CS shares disco nose as legal technology company cuts revenue outlook.

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CS DISCO (LAW) shares It dropped to 36% In pre-market trading on Friday, Wall Street expressed sentiment about the legal documents software company lowering its full-year earnings forecast.

On Thursday, CS Disco (LAW) said it has. It now expects full-year 2022 sales to be between $132M and $136M, representing a 17% increase from the company’s mid-2021 revenue of $134M. Chief Financial Officer Michael Lafaire cut the outlook due to the company’s “volatility and valuation business” and “potential additional headwinds in the middle of the year.”

Jefferies analyst Brent Thiel cut his rating on CS Disco ( LAW ) to avoid buy, citing the company’s “limited visibility.” [revenue] growth” and the possibility of a slowdown, particularly in the small to mid-sized business sector. Till lowered his price target on CS Disco (LAW) stock to $25 a share from $35 a share.

Wall Street analysts and Seeking Alpha authors each have a consensus rating of Strong Buy on CS Disco (LAW) stock. However, CS Disco (LAW) regularly earns a sell rating based on the stock market’s superior alpha index.

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