Pattern Group Inc. (NASDAQ:PTRN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Pattern Group Inc. (NASDAQ:PTRN) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $27.00.

PTRN has been the topic of a number of recent research reports. Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $31.00 price target on shares of Pattern Group in a research report on Thursday, August 6th. Robert W. Baird set a $26.00 price target on shares of Pattern Group in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $28.00 price objective on shares of Pattern Group in a research report on Thursday, August 6th.

Pattern Group Stock Performance

PTRN stock opened at $21.44 on Monday. The stock has a 50-day moving average price of $23.90 and a two-hundred day moving average price of $17.25. Pattern Group has a 1 year low of $8.92 and a 1 year high of $29.80. The stock has a market cap of $3.34 billion and a PE ratio of -12.47.

Pattern Group (NASDAQ:PTRN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company 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%. On average, analysts forecast that Pattern Group will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pattern Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTRN. Knox Lane LP acquired a new position in shares of Pattern Group during the 4th quarter worth about $325,157,000. Wasatch Advisors LP increased its position in shares of Pattern Group by 28.4% in the second 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. Norges Bank acquired a new stake in shares of Pattern Group in the fourth quarter valued at about $25,965,000. Loomis Sayles & Co. L P raised its holdings in Pattern Group by 28.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,135,163 shares of the company’s stock worth $24,640,000 after acquiring an additional 476,122 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Pattern Group by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,101,545 shares of the company’s stock worth $25,723,000 after acquiring an additional 23,589 shares in the last quarter.

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.