Needham & Company LLC Reiterates Buy Rating for Pattern Group (NASDAQ:PTRN)

Pattern Group (NASDAQ:PTRN)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $22.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 58.50% from the company’s current price.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group initiated coverage on Pattern Group in a report on Tuesday, October 14th. They issued a “buy” rating and a $17.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Jefferies Financial Group set a $20.00 price objective on Pattern Group in a research report on Thursday, December 11th. Zacks Research upgraded Pattern Group to a “hold” rating in a report on Wednesday, October 15th. Finally, William Blair assumed coverage on shares of Pattern Group in a research report on Tuesday, October 14th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pattern Group has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Pattern Group Stock Down 2.3%

Shares of PTRN stock opened at $13.88 on Thursday. The firm has a market capitalization of $2.14 billion and a price-to-earnings ratio of -6.34. The company’s 50-day moving average price is $13.75. Pattern Group has a 12 month low of $11.21 and a 12 month high of $20.10.

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

Institutional Investors Weigh In On Pattern Group

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in Pattern Group by 8.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,077,956 shares of the company’s stock valued at $23,896,000 after purchasing an additional 169,297 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Pattern Group in the 3rd quarter valued at about $4,385,000. FNY Investment Advisers LLC bought a new stake in Pattern Group in the 3rd quarter valued at about $137,000. Hudson Bay Capital Management LP bought a new stake in Pattern Group in the 3rd quarter valued at about $1,649,000. Finally, Woodline Partners LP acquired a new position in Pattern Group during the 3rd quarter worth approximately $19,678,000.

About Pattern Group

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.