Pattern Group Inc. (PTRN) – What Are Researchers Saying About This Stock?

Pattern Group Inc. (NASDAQ:PTRN) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.00.

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group downgraded Pattern Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $21.00 to $30.00 in a research report on Tuesday, July 14th. BMO Capital Markets reiterated an “outperform” rating and set a $28.00 target price on shares of Pattern Group in a report on Thursday, August 6th. Robert W. Baird set a $26.00 target price on shares of Pattern Group in a research report on Thursday, August 6th. Needham & Company LLC boosted their price target on shares of Pattern Group from $24.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $31.00 price target on shares of Pattern Group in a research report on Thursday, August 6th.

Hedge Funds Weigh In On Pattern Group

Large investors have recently bought and sold shares of the business. Readystate Asset Management LP lifted its holdings in Pattern Group by 363.9% during the second quarter. Readystate Asset Management LP now owns 212,964 shares of the company’s stock worth $5,365,000 after buying an additional 167,053 shares during the period. Wasatch Advisors LP raised its position in shares of Pattern Group by 28.4% in the 2nd quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock worth $78,974,000 after acquiring an additional 692,735 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Pattern Group in the 1st quarter worth $3,212,000. Bank of New York Mellon Corp purchased a new stake in shares of Pattern Group during the 2nd quarter worth $1,849,000. Finally, Sylebra Capital LLC purchased a new stake in shares of Pattern Group during the 1st quarter worth $1,971,000.

Pattern Group Stock Down 2.1%

Shares of Pattern Group stock opened at $16.19 on Friday. The stock’s fifty day moving average is $19.05 and its two-hundred day moving average is $19.75. The company has a market capitalization of $2.52 billion and a PE ratio of -9.41. Pattern Group has a 52 week low of $8.92 and a 52 week high of $29.80.

Pattern Group (NASDAQ:PTRN) last issued its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $876.77 million for the quarter. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 318.79%. As a group, research analysts anticipate that Pattern Group will post 0.63 earnings per share for the current year.

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.