Analysts Set Pattern Group Inc. (NASDAQ:PTRN) PT at $20.67

Pattern Group Inc. (NASDAQ:PTRN) has been given an average rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.6667.

PTRN has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research report on Monday, March 23rd. Stifel Nicolaus cut their price objective on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Needham & Company LLC increased their price objective on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Insiders Place Their Bets

In other Pattern Group news, Director Ann Mather sold 5,301 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.51, for a total value of $87,519.51. Following the completion of the transaction, the director owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. The trade was a 14.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 70.97% of the company’s stock.

Hedge Funds Weigh In On Pattern Group

A number of hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC raised its position in Pattern Group by 222.0% in the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock worth $27,000 after buying an additional 1,636 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Pattern Group during the 1st quarter valued at about $40,000. Barclays PLC increased its position in shares of Pattern Group by 25.2% during the 4th quarter. Barclays PLC now owns 16,652 shares of the company’s stock valued at $192,000 after purchasing an additional 3,352 shares during the last quarter. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Pattern Group during the 4th quarter valued at about $58,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Pattern Group during the 3rd quarter valued at about $89,000.

Pattern Group Trading Up 4.4%

Shares of PTRN stock opened at $20.45 on Wednesday. Pattern Group has a 12 month low of $8.92 and a 12 month high of $20.57. The stock has a market cap of $3.17 billion and a PE ratio of -10.94. The company’s fifty day moving average price is $14.58 and its 200-day moving average price is $13.46.

Pattern Group (NASDAQ:PTRN) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $773.73 million for the quarter, compared to the consensus estimate of $715.90 million. The business’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. On average, sell-side analysts forecast that Pattern Group will post 0.56 earnings per share for the current fiscal year.

Pattern Group announced that its Board of Directors has approved a stock buyback plan on Thursday, March 5th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.