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

Latch, Inc. (NASDAQ:LTCHGet Rating) has earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.49.

A number of equities analysts have recently commented on LTCH shares. Keefe, Bruyette & Woods started coverage on Latch in a report on Monday, February 14th. They issued a “market perform” rating and a $7.50 price objective on the stock. Zacks Investment Research downgraded Latch from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. Cantor Fitzgerald downgraded Latch from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $5.00 in a report on Friday, February 25th. Robert W. Baird dropped their target price on Latch from $8.00 to $4.00 in a report on Monday, February 28th. Finally, Imperial Capital downgraded Latch from an “outperform” rating to an “in-line” rating in a report on Monday, February 28th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Latch in the 1st quarter worth $1,442,000. Royal Bank of Canada grew its holdings in shares of Latch by 244.4% in the 1st quarter. Royal Bank of Canada now owns 343,818 shares of the company’s stock worth $1,469,000 after acquiring an additional 243,982 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Latch in the 1st quarter worth $53,000. Goldman Sachs Group Inc. grew its holdings in shares of Latch by 10,730.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,487,951 shares of the company’s stock worth $49,054,000 after acquiring an additional 11,381,884 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Latch by 16.3% in the 1st quarter. State Street Corp now owns 1,172,066 shares of the company’s stock worth $5,005,000 after acquiring an additional 164,381 shares during the last quarter. 54.31% of the stock is currently owned by institutional investors.

Latch stock opened at $2.18 on Friday. The stock’s 50-day moving average is $3.20 and its 200-day moving average is $5.20. The company has a market cap of $313.09 million, a price-to-earnings ratio of -1.36 and a beta of 0.73. Latch has a 12 month low of $2.01 and a 12 month high of $14.83.

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.

Further Reading

Analyst Recommendations for Latch (NASDAQ:LTCH)

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