CS Disco, Inc. (NYSE:LAW) reported results for the second quarter and issued weak Q3 guidance.
CS Disco said it sees Q3 revenue of $32 million to $34 million, versus analysts’ estimates of $38.29 million.
CS Disco shares dipped 33% to $19.40 in pre-market trading.
Several analysts made changes to their price targets on CS Disco today.
- Piper Sandler cut price target on the stock from $28 to $25. However, Piper Sandler analyst Arvind Ramnani maintained CS Disco with an Overweight.
- Cowen & Co. lowered CS Disco’s price target from $35 to $20. Cowen & Co. analyst J. Derrick Wood also downgraded the stock from Outperform to Market Perform.
- Jefferies cut the price target on the stock from $35 to $25. Jefferies analyst Brent Thill also downgraded CS Disco from Buy to Hold.
- B of A Securities reduced the price target on CS Disco from $34 to $25. B of A Securities analyst Koji Ikeda also downgraded the stock from Buy to Neutral.