Pattern Group Inc. (NASDAQ:PTRN) Stock Rated “Moderate Buy” by Sell-Side Analysts

Pattern Group Inc. (NASDAQ:PTRN) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $27.00.

A number of equities research analysts have commented on the company. Needham & Company LLC increased their price target on Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $31.00 price objective on shares of Pattern Group in a report on Thursday, August 6th. 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 research report on Monday, August 3rd. Jefferies Financial Group downgraded shares of Pattern Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $21.00 to $30.00 in a research report on Tuesday, July 14th. Finally, 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.

Pattern Group Trading Up 0.5%

NASDAQ PTRN opened at $17.41 on Tuesday. The firm’s fifty day simple moving average is $20.53 and its two-hundred day simple moving average is $19.26. The firm has a market capitalization of $2.71 billion and a P/E ratio of -10.12. Pattern Group has a 12-month low of $8.92 and a 12-month high of $29.80.

Pattern Group (NASDAQ:PTRN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating 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 firm had revenue of $876.77 million during the quarter. As a group, sell-side analysts predict that Pattern Group will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Pattern Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP boosted its position in Pattern Group by 363.9% in the second quarter. Readystate Asset Management LP now owns 212,964 shares of the company’s stock valued at $5,365,000 after buying an additional 167,053 shares during the last quarter. Wasatch Advisors LP raised its position in Pattern Group by 28.4% during the 2nd quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock worth $78,974,000 after buying an additional 692,735 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Pattern Group during the 1st quarter valued at approximately $3,212,000. Bank of New York Mellon Corp purchased a new stake in shares of Pattern Group in the 2nd quarter valued at $1,849,000. Finally, Knox Lane LP purchased a new position in shares of Pattern Group during the fourth quarter worth $325,157,000.

About Pattern Group

Pattern Group Inc is a global e-commerce acceleration company that helps consumer brands grow and manage their businesses across online marketplaces and other digital sales channels. The company combines technology, data analytics and operational services to support brands throughout the e-commerce lifecycle.

Pattern’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and channel strategy, fulfillment and logistics, and brand protection.