Latch, Inc. (NASDAQ:LTCH) Expected to Announce Quarterly Sales of $13.85 Million

Equities research analysts predict that Latch, Inc. (NASDAQ:LTCHGet Rating) will announce $13.85 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Latch’s earnings, with estimates ranging from $13.80 million to $13.90 million. The company is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Latch will report full-year sales of $87.85 million for the current fiscal year, with estimates ranging from $87.30 million to $88.40 million. For the next fiscal year, analysts forecast that the business will report sales of $153.65 million, with estimates ranging from $152.30 million to $155.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Latch.

Latch (NASDAQ:LTCHGet Rating) last announced its earnings results on Thursday, February 24th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. The business had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $13.25 million.

LTCH has been the subject of several recent research reports. Robert W. Baird decreased their price objective on Latch from $8.00 to $4.00 in a report on Monday, February 28th. DA Davidson began coverage on Latch in a research note on Friday, January 21st. They issued a “buy” rating and a $11.50 target price for the company. Imperial Capital downgraded Latch from an “outperform” rating to an “in-line” rating in a research note on Monday, February 28th. Berenberg Bank assumed coverage on Latch in a research note on Tuesday, January 11th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Cantor Fitzgerald downgraded Latch from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $5.00 in a research report on Friday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Latch presently has a consensus rating of “Hold” and an average price target of $9.22.

Shares of LTCH opened at $3.29 on Friday. The business has a 50-day moving average of $3.98 and a 200 day moving average of $6.41. Latch has a fifty-two week low of $3.15 and a fifty-two week high of $14.83.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. raised its holdings in shares of Latch by 6.2% during the 3rd quarter. Advisor Group Holdings Inc. now owns 50,938 shares of the company’s stock valued at $573,000 after buying an additional 2,980 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Latch by 58.2% during the 4th quarter. Wolverine Asset Management LLC now owns 8,597 shares of the company’s stock valued at $65,000 after buying an additional 3,162 shares in the last quarter. M&T Bank Corp increased its stake in Latch by 10.7% in the 4th quarter. M&T Bank Corp now owns 33,805 shares of the company’s stock worth $256,000 after purchasing an additional 3,260 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Latch in the 4th quarter worth approximately $25,000. Finally, Bank of America Corp DE purchased a new position in Latch in the 2nd quarter worth approximately $43,000. 45.30% of the stock is currently owned by 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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