Latch (NASDAQ:LTCH) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Latch (NASDAQ:LTCHGet Rating) from a sell rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Latch Inc. is a maker of the full-building enterprise software-as-a-service platform LatchOS. Latch Inc., formerly known as TS Innovation Acquisitions Corp., is based in NEW YORK. “

A number of other equities analysts also recently commented on the company. Imperial Capital downgraded Latch from an outperform rating to an in-line rating in a report on Monday, February 28th. Cantor Fitzgerald downgraded Latch from an overweight rating to a neutral rating and decreased their target price for the company from $16.00 to $5.00 in a report on Friday, February 25th. DA Davidson initiated coverage on Latch in a report on Friday, January 21st. They set a buy rating and a $11.50 target price for the company. Colliers Securities initiated coverage on Latch in a report on Tuesday, February 8th. They issued a buy rating and a $8.00 price objective for the company. Finally, Keefe, Bruyette & Woods initiated coverage on Latch in a report on Monday, February 14th. They issued a market perform rating and a $7.50 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $9.22.

Shares of Latch stock opened at $3.67 on Thursday. The business has a 50 day moving average of $4.64 and a 200 day moving average of $7.11. Latch has a 52 week low of $3.30 and a 52 week high of $14.83.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LTCH. Bank of America Corp DE purchased a new stake in shares of Latch in the second quarter worth $43,000. Morgan Stanley purchased a new stake in shares of Latch in the second quarter worth $38,967,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Latch in the second quarter worth $1,061,000. Advisor Group Holdings Inc. grew its stake in shares of Latch by 6.2% in the third quarter. Advisor Group Holdings Inc. now owns 50,938 shares of the company’s stock worth $573,000 after acquiring an additional 2,980 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Latch in the third quarter worth $727,000. 45.30% of the stock is currently owned by hedge funds and other institutional investors.

About Latch (Get Rating)

Latch, Inc operates as an enterprise technology company in the United States and Canada. The company offers LatchOS, an operating system that extends smart access, delivery and guest management, smart home and sensors, connectivity, and personalization and services. Its software products include Latch Resident Mobile Applications, Latch Manager Web, and the Latch Manager Mobile Applications.

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