Zacks Investment Research Downgrades Latch (NASDAQ:LTCH) to Sell

Latch (NASDAQ:LTCHGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, 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. “

Other analysts have also recently issued research reports about the stock. Colliers Securities began coverage on shares of Latch in a research note on Tuesday, February 8th. They set a “buy” rating and a $8.00 target price for the company. DA Davidson began coverage on shares of Latch in a research note on Friday, January 21st. They set a “buy” rating and a $11.50 target price for the company. Keefe, Bruyette & Woods began coverage on shares of Latch in a research note on Monday, February 14th. They set a “market perform” rating and a $7.50 target price for the company. Cantor Fitzgerald cut shares of Latch from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $5.00 in a research note on Friday, February 25th. Finally, Berenberg Bank started coverage on shares of Latch in a research report on Tuesday, January 11th. They set a “buy” rating and a $8.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.22.

LTCH opened at $3.94 on Friday. Latch has a fifty-two week low of $3.30 and a fifty-two week high of $14.83. The company has a fifty day moving average of $4.40 and a two-hundred day moving average of $6.86.

Latch (NASDAQ:LTCHGet Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The firm had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $13.25 million. As a group, equities analysts anticipate that Latch will post -1.56 EPS for the current year.

A number of large investors have recently bought and sold shares of LTCH. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Latch in the 4th quarter valued at about $25,000. Wells Fargo & Company MN boosted its holdings in Latch by 435.1% in the 4th quarter. Wells Fargo & Company MN now owns 5,105 shares of the company’s stock valued at $38,000 after purchasing an additional 4,151 shares during the last quarter. Bank of America Corp DE acquired a new position in Latch in the 2nd quarter valued at about $43,000. Wolverine Asset Management LLC boosted its holdings in Latch by 151.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 5,435 shares of the company’s stock valued at $61,000 after purchasing an additional 3,277 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new position in Latch in the 4th quarter valued at about $111,000. Institutional investors own 45.30% of the company’s stock.

Latch Company Profile (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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