Brokerages Expect Latch, Inc. (NASDAQ:LTCH) Will Post Quarterly Sales of $13.25 Million

Equities research analysts expect Latch, Inc. (NASDAQ:LTCH) to post sales of $13.25 million for the current quarter, Zacks reports. Two analysts have made estimates for Latch’s earnings, with the highest sales estimate coming in at $13.50 million and the lowest estimate coming in at $13.00 million. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 9th.

On average, analysts expect that Latch will report full-year sales of $40.10 million for the current year, with estimates ranging from $39.90 million to $40.30 million. For the next financial year, analysts expect that the company will post sales of $150.20 million, with estimates ranging from $143.90 million to $156.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Latch.

A number of research firms have recently weighed in on LTCH. Zacks Investment Research lowered Latch from a “buy” rating to a “hold” rating in a research note on Tuesday, November 16th. The Goldman Sachs Group lowered Latch from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $10.00 in a research note on Monday, October 18th. Bank of America initiated coverage on Latch in a research note on Tuesday, October 5th. They issued an “underperform” rating and a $10.00 price target for the company. KeyCorp initiated coverage on Latch in a research note on Tuesday, August 17th. They issued a “sector weight” rating for the company. Finally, Imperial Capital initiated coverage on Latch in a research note on Thursday, November 18th. They issued an “outperform” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Latch currently has a consensus rating of “Hold” and a consensus price target of $12.92.

Large investors have recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Latch during the second quarter valued at $43,000. Wolverine Asset Management LLC increased its holdings in shares of Latch by 151.9% during the third quarter. Wolverine Asset Management LLC now owns 5,435 shares of the company’s stock valued at $61,000 after acquiring an additional 3,277 shares in the last quarter. Pinz Capital Management LP bought a new position in shares of Latch during the second quarter valued at $123,000. Penserra Capital Management LLC bought a new stake in Latch in the 2nd quarter worth about $124,000. Finally, Citigroup Inc. bought a new stake in Latch in the 3rd quarter worth about $125,000. Hedge funds and other institutional investors own 68.71% of the company’s stock.

Shares of NASDAQ:LTCH traded up $0.40 during trading on Thursday, reaching $8.43. 840,775 shares of the company traded hands, compared to its average volume of 1,022,781. Latch has a 52-week low of $7.82 and a 52-week high of $19.70. The firm’s fifty day simple moving average is $10.17.

Latch Company Profile

Latch, Inc makes spaces better places to live, work, and visit through a system of software, devices, and services in the United States. Its products include LatchOS for Commercial Office, a commercial solution that would extend smart access, visitor and delivery management, smart device and sensor control, connectivity, and identity and personalization solutions to meet the needs of modern office spaces; Latch Visitor Express, a contactless visitor entry system; The Latch Lens Partner Program that enables access device partners to leverage Latch's software and Latch Lens; LatchID, an identification system that creates a network of users, across spaces, and devices; and Latch C2, a smart access solution for retrofits and new construction.

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