Pattern Group (NASDAQ:PTRN) Price Target Cut to $25.00 by Analysts at KeyCorp

Pattern Group (NASDAQ:PTRN) had its target price cut by equities research analysts at KeyCorp from $30.00 to $25.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp‘s target price points to a potential upside of 50.69% from the company’s current price.

PTRN has been the subject of several other reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $31.00 price objective on shares of Pattern Group in a research note 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 stock a “buy” rating in a research note on Thursday, August 6th. BMO Capital Markets reiterated an “outperform” rating and set a $28.00 price target on shares of Pattern Group in a report on Thursday, August 6th. Jefferies Financial Group downgraded shares of Pattern Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $21.00 to $30.00 in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Pattern Group has an average rating of “Moderate Buy” and an average price target of $26.44.

Pattern Group Price Performance

NASDAQ PTRN opened at $16.59 on Monday. Pattern Group has a 52 week low of $8.92 and a 52 week high of $29.80. The company has a market capitalization of $2.58 billion, a P/E ratio of -9.65 and a beta of 1.29. The stock’s 50-day moving average price is $18.65 and its 200-day moving average price is $17.51.

Pattern Group (NASDAQ:PTRN) last announced 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. The business had revenue of $876.77 million for the quarter. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%. Research analysts anticipate that Pattern Group will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Pattern Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTRN. Sterling Capital Management LLC grew its stake in shares of Pattern Group by 1,400.9% during the third quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock worth $29,000 after acquiring an additional 1,597 shares during the last quarter. State of Wyoming acquired a new stake in shares of Pattern Group during the third quarter worth $106,000. State of Alaska Department of Revenue acquired a new stake in shares of Pattern Group during the third quarter worth $148,000. Arizona State Retirement System purchased a new stake in shares of Pattern Group during the second quarter valued at $226,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Pattern Group during the second quarter valued at $261,000.

About Pattern Group

Pattern Group Inc (NASDAQ: PTRN) is an e-commerce technology and services company that helps brands grow and manage their online businesses. Its platform combines software, data, and operational services to support product distribution and sales across major digital marketplaces, retailer websites, and other e-commerce channels.

The company’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and assortment strategy, fulfillment coordination, and analytics.