Latch, Inc. (NASDAQ:LTCH) Expected to Post Quarterly Sales of $10.45 Million

Wall Street analysts expect Latch, Inc. (NASDAQ:LTCH) to report $10.45 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Latch’s earnings. The lowest sales estimate is $10.30 million and the highest is $10.60 million. The firm is expected to issue its next 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 year, with estimates ranging from $38.40 million to $40.60 million. For the next financial year, analysts anticipate that the company will report sales of $147.40 million, with estimates ranging from $138.80 million to $156.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Latch.

Latch (NASDAQ:LTCH) last posted its quarterly earnings data on Friday, August 13th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The business had revenue of $9.01 million for the quarter, compared to the consensus estimate of $9.30 million.

Several analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Latch in a report on Thursday, July 1st. They issued an “overweight” rating and a $19.00 price objective for the company. KeyCorp started coverage on Latch in a report on Tuesday, August 17th. They issued a “sector weight” rating for the company. Bank of America started coverage on shares of Latch in a report on Tuesday, October 5th. They issued an “underperform” rating and a $10.00 target price for the company. Zacks Investment Research upgraded shares of Latch from a “sell” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group started coverage on shares of Latch in a report on Thursday, July 29th. They issued a “buy” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.69.

Shares of NASDAQ:LTCH traded up $0.94 on Monday, hitting $11.22. 15,254 shares of the company’s stock were exchanged, compared to its average volume of 1,373,857. Latch has a 12 month low of $9.46 and a 12 month high of $19.70. The stock’s 50 day simple moving average is $12.12.

Several hedge funds have recently modified their holdings of the company. Spruce House Investment Management LLC acquired a new position in Latch in the second quarter valued at approximately $128,835,000. FMR LLC acquired a new position in Latch in the second quarter valued at approximately $57,159,000. Brookfield Asset Management Inc. acquired a new position in Latch in the second quarter valued at approximately $58,083,000. BlackRock Inc. acquired a new position in Latch in the second quarter valued at approximately $44,244,000. Finally, Morgan Stanley acquired a new position in shares of Latch during the 2nd quarter worth approximately $38,967,000. Institutional investors and hedge funds 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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