Latch (NASDAQ:LTCH) Upgraded to Hold by Zacks Investment Research

Latch (NASDAQ:LTCH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Latch Inc. is a maker of the full-building enterprise software-as-a-service platform LatchOS. Latch Inc., formerly known as TS Innovation Acquisitions Corp., is based in NEW YORK. “

Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald started coverage on Latch in a report on Thursday, July 1st. They issued an “overweight” rating and a $19.00 price objective for the company. Bank of America started coverage on Latch in a report on Tuesday, October 5th. They issued an “underperform” rating and a $10.00 price objective for the company. The Goldman Sachs Group started coverage on Latch in a report on Thursday, July 29th. They issued a “buy” rating and a $18.00 price objective for the company. KeyCorp initiated coverage on Latch in a report on Tuesday, August 17th. They issued a “sector weight” rating for the company. Finally, Robert W. Baird initiated coverage on Latch in a research note on Thursday, June 17th. They issued a “neutral” rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Latch has a consensus rating of “Hold” and a consensus price target of $14.69.

LTCH opened at $10.28 on Thursday. Latch has a 1 year low of $9.46 and a 1 year high of $19.70. The stock’s 50 day moving average is $12.12.

Latch (NASDAQ:LTCH) last released its quarterly earnings data on Friday, August 13th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The business had revenue of $9.01 million during the quarter, compared to analyst estimates of $9.30 million. On average, analysts predict that Latch will post -1.15 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Durable Capital Partners LP purchased a new position in Latch during the second quarter valued at $29,350,000. Alpha Paradigm Partners LLC purchased a new position in Latch during the second quarter valued at $758,000. Penserra Capital Management LLC purchased a new position in Latch during the second quarter valued at $124,000. Financial Architects Inc bought a new stake in shares of Latch in the 2nd quarter worth $6,135,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of Latch in the 2nd quarter worth $908,000. 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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