LTCH

Latch Inc

TMT


Presented:09/17/2021
Price:$14.05
Cap:$1.98B
Current Price:$0.46
Cap:$0.08B

Presented

Date09/17/2021
Price$14.05
Market Cap$1.98B
Ent Value$0.16B
P/E RatioN/A
Book Value$3.22
Div Yield0%
Shares O/S141.27M
Ave Daily Vol1,167,036
Short IntN/A

Current

Price$0.46
Market Cap$0.08B
Latch, Inc. is an enterprise technology company, which provides security systems design and software services. The firm's operating system, LatchOS, involve in streamlining building operations, enhancing the resident experience, and enabling interactions with service providers. Its product offerings are designed to optimize the resident experience, and include smart access, delivery and guest management, smart home and sensors, connectivity, and resident experience. The firm combines hardware, software, and services into a holistic system that helps for residents, building operators, and service providers. The company was founded by Luke Schoenfelder, Michael Brain Jones, Dhruva Rajendra, and Thomas Meyerhoffer in 2014 and is headquartered in New York, NY.

Publicly traded companies mentioned herein: Alphabet Inc (GOOGL), Latch Inc (LTCH), SmartRent Inc (SMRT)

Highlights

The presenter is long shares of Latch Inc (LTCH), a vertically integrated hardware and software provider of smart home technology centered around unit and building access and sold to property developers and managers. Beyond residential unit access, other products include delivery management, guest/visitor management (i.e., intercom and cameras combined with the associated software platform), and various third-party smart home integrations (e.g., Google Nest, ecobee, Jasco). LTCH was a Tishman Speyer SPAC that de-SPAC’d in June with an $11 share price, and has experienced consistent volatility since, bouncing around from $10 to the current $14. The presenter values LTCH in the low- to mid-$30 range a few years out but notes that he needs a higher IRR given the current size of the company. He expects there will be opportunities to buy the stock at a lower price and likes it at $12 per share and below.

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Idea Discussion

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