William Blair starts coverage of Latch with 'outperform', shares up

Latch

09/07/2021 13:16

** Shares of smart-lock maker  LTCH.O  up 1.07% at $12.31 in
premarket trading after William Blair starts coverage with
"outperform" rating 
    ** Brokerage expects more product expansion by co over time
that could increase unit monetization and establish LTCH as an
integrated provider of smart access technology 
    ** Says co has an attractive business model with long-term
contracts and solid up-sell potential
    ** Says co's solutions should drive natural renter
engagement, with average app usage of 4.6 times daily that could
give co an opportunity to facilitate more e-commerce activity 
    ** Up to Thursday's close, stock had risen ~20% this year

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))