Zacks: Analysts Anticipate Latch, Inc. (NASDAQ:LTCH) Will Announce Earnings of -$0.34 Per Share

Wall Street brokerages expect that Latch, Inc. (NASDAQ:LTCHGet Rating) will post ($0.34) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Latch’s earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.36). Latch posted earnings of ($0.41) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 17.1%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Latch will report full year earnings of ($1.55) per share for the current financial year, with EPS estimates ranging from ($1.71) to ($1.44). For the next financial year, analysts expect that the business will report earnings of ($1.39) per share, with EPS estimates ranging from ($1.46) to ($1.22). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Latch.

LTCH has been the topic of several research reports. Keefe, Bruyette & Woods initiated coverage on shares of Latch in a research report on Monday, February 14th. They issued a “market perform” rating and a $7.50 price objective on the stock. Robert W. Baird lowered their price target on shares of Latch from $8.00 to $4.00 in a research report on Monday, February 28th. Colliers Securities initiated coverage on shares of Latch in a research report on Tuesday, February 8th. They issued a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald lowered shares of Latch from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $5.00 in a research report on Friday, February 25th. Finally, Imperial Capital cut shares of Latch from an “outperform” rating to an “in-line” rating in a research note on Monday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Latch has a consensus rating of “Hold” and a consensus target price of $9.22.

Latch stock traded down $0.13 during midday trading on Wednesday, hitting $1.74. 4,196,179 shares of the stock were exchanged, compared to its average volume of 1,944,470. Latch has a 52-week low of $1.72 and a 52-week high of $14.83. The stock has a market capitalization of $249.90 million, a price-to-earnings ratio of -1.09 and a beta of 0.71. The business’s 50-day moving average price is $3.04 and its 200-day moving average price is $5.03.

Several institutional investors have recently added to or reduced their stakes in LTCH. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Latch in the fourth quarter valued at about $25,000. Bank of America Corp DE purchased a new stake in Latch in the second quarter valued at approximately $43,000. Wells Fargo & Company MN boosted its position in Latch by 435.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,105 shares of the company’s stock valued at $38,000 after buying an additional 4,151 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Latch by 58.2% in the fourth 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 during the last quarter. Finally, Citigroup Inc. purchased a new stake in Latch in the third quarter valued at approximately $125,000. Hedge funds and other institutional investors own 54.31% of the company’s stock.

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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