Pattern Group Inc. (NASDAQ:PTRN) Receives $27.00 Consensus PT from Analysts

Pattern Group Inc. (NASDAQ:PTRN) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $27.00.

PTRN has been the topic of several research analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $28.00 target price on shares of Pattern Group in a report on Thursday, August 6th. Needham & Company LLC lifted their price target on shares of Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. KeyCorp increased their price objective on shares of Pattern Group from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $31.00 price objective on shares of Pattern Group in a research report on Thursday, August 6th.

Hedge Funds Weigh In On Pattern Group

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its position in shares of Pattern Group by 28.4% during the 2nd quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock valued at $78,974,000 after acquiring an additional 692,735 shares during the last quarter. Weiss Asset Management LP bought a new stake in Pattern Group in the first quarter worth $3,212,000. Knox Lane LP purchased a new stake in Pattern Group during the fourth quarter valued at $325,157,000. Readystate Asset Management LP raised its stake in Pattern Group by 363.9% during the second quarter. Readystate Asset Management LP now owns 212,964 shares of the company’s stock valued at $5,365,000 after purchasing an additional 167,053 shares in the last quarter. Finally, Sylebra Capital LLC bought a new position in Pattern Group during the first quarter valued at $1,971,000.

Pattern Group Trading Up 1.1%

Shares of PTRN opened at $19.86 on Friday. The business’s 50 day moving average is $23.40 and its 200 day moving average is $18.36. Pattern Group has a 12-month low of $8.92 and a 12-month high of $29.80. The company has a market capitalization of $3.09 billion and a PE ratio of -11.55.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%.The business had revenue of $876.77 million during the quarter. Equities research analysts predict that Pattern Group will post 0.63 earnings per share for the current year.

Pattern Group Company Profile

At Pattern, we are on a mission to help brands accelerate profitable growth on global ecommerce marketplaces. Today, our proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI”) models, we strive to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service.