Pattern Group (NASDAQ:PTRN) Releases Earnings Results, Beats Estimates By $0.02 EPS

Pattern Group (NASDAQ:PTRN) announced its earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02, FiscalAI reports. The business had revenue of $885.85 million for the quarter. Pattern Group had a return on equity of 203.14% and a net margin of 3.61%. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.19) EPS.

Pattern Group Stock Up 4.3%

Shares of NASDAQ:PTRN traded up $0.74 during midday trading on Friday, hitting $17.99. The stock had a trading volume of 463,878 shares, compared to its average volume of 1,453,846. Pattern Group has a 12 month low of $8.92 and a 12 month high of $29.80. The business’s 50-day simple moving average is $18.32 and its 200-day simple moving average is $17.58. The company has a market cap of $2.80 billion, a P/E ratio of 27.57 and a beta of 1.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in Pattern Group by 1,400.9% in the third quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock valued at $29,000 after buying an additional 1,597 shares during the period. State of Wyoming acquired a new position in shares of Pattern Group in the third quarter valued at $106,000. State of Alaska Department of Revenue acquired a new position in shares of Pattern Group in the third quarter valued at $148,000. Arizona State Retirement System bought a new position in shares of Pattern Group in the second quarter valued at about $226,000. Finally, Corient Private Wealth LP bought a new position in shares of Pattern Group in the second quarter valued at about $261,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. KeyCorp reduced their price target on Pattern Group from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday. Evercore reiterated an “outperform” rating and issued a $29.00 price objective on shares of Pattern Group in a report on Thursday, August 6th. Weiss Ratings raised shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $31.00 price objective on shares of Pattern Group in a research report on Thursday, August 6th. Finally, BMO Capital Markets restated an “outperform” rating and set a $28.00 target price on shares of Pattern Group in a report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.89.

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.