$13.25 Million in Sales Expected for Latch, Inc. (NASDAQ:LTCH) This Quarter

Wall Street analysts expect Latch, Inc. (NASDAQ:LTCH) to post sales of $13.25 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Latch’s earnings, with the lowest sales estimate coming in at $13.00 million and the highest estimate coming in at $13.50 million. The business is scheduled to issue its next earnings report on Wednesday, February 9th.

On average, analysts expect that Latch will report full-year sales of $40.10 million for the current financial year, with estimates ranging from $39.90 million to $40.30 million. For the next fiscal year, analysts anticipate that the firm will post sales of $150.20 million, with estimates ranging from $143.90 million to $156.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Latch.

Several research analysts have recently issued reports on LTCH shares. The Goldman Sachs Group cut shares of Latch from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $10.00 in a report on Monday, October 18th. Zacks Investment Research cut shares of Latch from a “buy” rating to a “hold” rating in a report on Tuesday, November 16th. KeyCorp began coverage on shares of Latch in a report on Tuesday, August 17th. They issued a “sector weight” rating on the stock. Imperial Capital began coverage on shares of Latch in a report on Thursday, November 18th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Bank of America began coverage on shares of Latch in a report on Tuesday, October 5th. They issued an “underperform” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Latch has an average rating of “Hold” and an average target price of $12.92.

Shares of Latch stock traded up $0.40 on Thursday, hitting $8.43. The stock had a trading volume of 840,775 shares, compared to its average volume of 1,022,781. Latch has a one year low of $7.82 and a one year high of $19.70. The firm has a 50-day moving average of $10.17.

Several large investors have recently added to or reduced their stakes in LTCH. Spruce House Investment Management LLC grew its holdings in Latch by 33.3% in the third quarter. Spruce House Investment Management LLC now owns 14,000,000 shares of the company’s stock worth $157,780,000 after purchasing an additional 3,500,000 shares during the period. Morgan Stanley grew its holdings in Latch by 77.9% in the third quarter. Morgan Stanley now owns 5,651,055 shares of the company’s stock worth $63,688,000 after purchasing an additional 2,475,333 shares during the period. FMR LLC purchased a new stake in Latch in the second quarter worth about $57,159,000. Brookfield Asset Management Inc. purchased a new stake in Latch in the second quarter worth about $58,083,000. Finally, BlackRock Inc. grew its holdings in Latch by 29.1% in the third quarter. BlackRock Inc. now owns 4,654,890 shares of the company’s stock worth $52,461,000 after purchasing an additional 1,048,986 shares during the period. 68.71% of the stock is currently owned by hedge funds and other institutional investors.

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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