Zacks: Analysts Expect Latch, Inc. (NASDAQ:LTCH) Will Announce Quarterly Sales of $10.45 Million

Wall Street analysts expect Latch, Inc. (NASDAQ:LTCH) to post $10.45 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Latch’s earnings. The highest sales estimate is $10.60 million and the lowest is $10.30 million. The business is expected to report its next quarterly earnings results on Friday, November 12th.

According to Zacks, analysts expect that Latch will report full year sales of $39.50 million for the current financial year, with estimates ranging from $38.40 million to $40.60 million. For the next year, analysts anticipate that the company will post sales of $147.40 million, with estimates ranging from $138.80 million to $156.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Latch.

LTCH has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Latch in a research report on Thursday, July 1st. They set an “overweight” rating and a $19.00 price objective for the company. William Blair initiated coverage on Latch in a research report on Friday, July 9th. They issued an “outperform” rating and a $12.43 price target for the company. Zacks Investment Research lowered Latch from a “hold” rating to a “sell” rating in a research report on Wednesday, September 1st. The Goldman Sachs Group initiated coverage on Latch in a research report on Thursday, July 29th. They issued a “buy” rating and a $18.00 price target for the company. Finally, KeyCorp initiated coverage on Latch in a research report on Tuesday, August 17th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.86.

Shares of Latch stock opened at $13.56 on Tuesday. The business has a 50 day moving average price of $12.31. Latch has a 52-week low of $9.46 and a 52-week high of $19.70.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LTCH. Bank of America Corp DE bought a new stake in shares of Latch during the 2nd quarter valued at about $43,000. Pinz Capital Management LP bought a new stake in shares of Latch during the 2nd quarter valued at about $123,000. Penserra Capital Management LLC bought a new stake in shares of Latch during the 2nd quarter valued at about $124,000. Virtu Financial LLC bought a new stake in shares of Latch during the 2nd quarter valued at about $241,000. Finally, Jacobi Capital Management LLC bought a new stake in shares of Latch during the 2nd quarter valued at about $268,000. Institutional investors own 33.70% of the company’s stock.

About Latch

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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