Pattern Group Inc. (NASDAQ:PTRN) Receives Average Recommendation of “Moderate Buy” from Analysts

Pattern Group Inc. (NASDAQ:PTRN) has received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.6667.

PTRN has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Pattern Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Needham & Company LLC boosted their target price on shares of Pattern Group from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research report on Monday, March 23rd. Finally, Stifel Nicolaus dropped their target price on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 6th.

Insider Buying and Selling at Pattern Group

In other news, Director Ann Mather sold 5,301 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.51, for a total value of $87,519.51. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 70.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capelight Capital Asset Management LP acquired a new position in shares of Pattern Group in the 4th quarter valued at about $923,000. Hudson Bay Capital Management LP acquired a new position in shares of Pattern Group in the 3rd quarter valued at about $1,649,000. Monashee Investment Management LLC acquired a new position in shares of Pattern Group in the 3rd quarter valued at about $2,055,000. Dragoneer Investment Group LLC acquired a new position in shares of Pattern Group in the 3rd quarter valued at about $6,709,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Pattern Group in the 3rd quarter valued at about $15,562,000.

Pattern Group Price Performance

Pattern Group stock opened at $21.36 on Friday. Pattern Group has a 12-month low of $8.92 and a 12-month high of $21.92. The company has a market capitalization of $3.31 billion and a price-to-earnings ratio of -11.42. The firm’s fifty day moving average price is $16.88 and its 200 day moving average price is $13.94.

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

Pattern Group announced that its board has authorized a stock buyback program on Thursday, March 5th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are 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.