Analysts Anticipate Latch, Inc. (NASDAQ:LTCH) Will Announce Quarterly Sales of $13.25 Million

Brokerages expect Latch, Inc. (NASDAQ:LTCH) to report sales of $13.25 million for the current quarter, according to Zacks Investment Research. Two analysts have provided 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 report 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 fiscal year, analysts forecast that the business will post sales of $150.20 million, with estimates ranging from $143.90 million to $156.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Latch.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE bought a new position in shares of Latch during the second quarter worth approximately $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 worth $61,000 after purchasing an additional 3,277 shares during the period. Pinz Capital Management LP bought a new position in shares of Latch during the second quarter worth approximately $123,000. Penserra Capital Management LLC bought a new position in shares of Latch during the second quarter worth approximately $124,000. Finally, Citigroup Inc. bought a new position in shares of Latch during the third quarter worth approximately $125,000. 68.71% of the stock is currently owned by institutional investors.

NASDAQ:LTCH traded up $0.40 during mid-day trading 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 twelve month low of $7.82 and a twelve month high of $19.70. The stock has a 50 day simple moving average of $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.

Featured Article: Are we seeing the beginning of a new bubble?

Get a free copy of the Zacks research report on Latch (LTCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Latch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Latch and related companies with MarketBeat.com's FREE daily email newsletter.