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

Pattern Group Inc. (NASDAQ:PTRN) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $21.00.

A number of analysts have recently weighed in on PTRN shares. Wall Street Zen raised shares of Pattern Group to a “hold” rating in a report on Saturday, October 11th. KeyCorp raised their target price on Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. BMO Capital Markets boosted their price target on Pattern Group from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Baird R W raised Pattern Group to a “strong-buy” rating in a research note on Tuesday, October 14th. Finally, Evercore ISI set a $23.00 target price on Pattern Group and gave the stock an “outperform” rating in a research note on Thursday, November 6th.

Pattern Group Trading Up 3.1%

PTRN opened at $11.84 on Friday. Pattern Group has a 52-week low of $11.30 and a 52-week high of $20.10. The stock’s fifty day moving average is $14.81.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, beating analysts’ consensus estimates of ($2.71) by $0.52. The company had revenue of $639.66 million during the quarter, compared to analyst estimates of $570.78 million.

Institutional Trading of Pattern Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. bought a new position in Pattern Group in the third quarter valued at about $13,685,000. Schonfeld Strategic Advisors LLC bought a new position in Pattern Group in the 3rd quarter valued at approximately $14,680,000. Freestone Grove Partners LP acquired a new stake in Pattern Group during the 3rd quarter worth approximately $3,051,000. Burkehill Global Management LP bought a new stake in Pattern Group during the 3rd quarter worth approximately $3,425,000. Finally, Longaeva Partners L.P. acquired a new position in Pattern Group in the 3rd quarter valued at approximately $2,009,000.

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.