Latch, Inc. (NASDAQ:LTCH) Given Consensus Rating of “Hold” by Analysts

Latch, Inc. (NASDAQ:LTCH – Get Rating) has received a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $8.49.

Several equities analysts have recently weighed in on LTCH shares. Keefe, Bruyette & Woods started coverage on shares of Latch in a report on Monday, February 14th. They set a “market perform” rating and a $7.50 price objective on the stock. Colliers Securities started coverage on shares of Latch in a report on Tuesday, February 8th. They set a “buy” rating and a $8.00 price objective on the stock. DA Davidson started coverage on shares of Latch in a report on Friday, January 21st. They set a “buy” rating and a $11.50 price objective on the stock. Imperial Capital lowered shares of Latch from an “outperform” rating to an “in-line” rating in a report on Monday, February 28th. Finally, Robert W. Baird dropped their price objective on shares of Latch from $8.00 to $4.00 in a report on Monday, February 28th.

A number of hedge funds have recently modified their holdings of LTCH. Avenir Management Company LLC bought a new stake in Latch in the 4th quarter worth about $162,267,000. MFN Partners Management LP bought a new stake in Latch in the 1st quarter worth about $25,620,000. Spruce House Investment Management LLC grew its position in Latch by 33.3% in the 3rd quarter. Spruce House Investment Management LLC now owns 14,000,000 shares of the company’s stock worth $157,780,000 after purchasing an additional 3,500,000 shares in the last quarter. Morgan Stanley bought a new stake in Latch in the 2nd quarter worth about $38,967,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Latch during the 1st quarter valued at approximately $5,724,000. 54.31% of the stock is owned by institutional investors and hedge funds.

LTCH stock traded up $0.11 during midday trading on Monday, hitting $2.51. The stock had a trading volume of 3,733,194 shares, compared to its average volume of 1,213,125. The firm has a market cap of $360.49 million, a P/E ratio of -1.57 and a beta of 0.66. Latch has a 1-year low of $2.30 and a 1-year high of $14.83. The business has a fifty day moving average price of $3.69 and a two-hundred day moving average price of $5.87.

Latch (NASDAQ:LTCH – Get Rating) last released 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 analyst estimates of $13.25 million. Latch had a negative net margin of 356.40% and a negative return on equity of 38.26%. Analysts predict that Latch will post -1.55 EPS for the current fiscal year.

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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