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

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

PTRN has been the topic of several other research reports. Needham & Company LLC lifted their price target on shares of Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. BMO Capital Markets reissued an “outperform” rating and set a $28.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Pattern Group in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $31.00 price target on shares of Pattern Group in a report on Thursday, August 6th. Eight 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. Based on data from MarketBeat.com, Pattern Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.44.

Pattern Group Stock Performance

PTRN opened at $16.59 on Monday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -9.65 and a beta of 1.29. Pattern Group has a fifty-two week low of $8.92 and a fifty-two week high of $29.80. The company has a fifty day moving average of $18.65 and a two-hundred day moving average of $17.51.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 318.79%. The company had revenue of $876.77 million during the quarter. On average, equities research analysts forecast that Pattern Group will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pattern Group in the 3rd quarter valued at $336,000. ProShare Advisors LLC acquired a new position in Pattern Group in the 3rd quarter valued at $1,785,000. State of Wyoming purchased a new position in Pattern Group during the 3rd quarter worth $106,000. Sterling Capital Management LLC raised its position in Pattern Group by 1,400.9% during the 3rd quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock worth $29,000 after buying an additional 1,597 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Pattern Group in the 3rd quarter worth $223,000.

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.