Analysts Set Pattern Group Inc. (NASDAQ:PTRN) Price Target at $22.89

Shares of Pattern Group Inc. (NASDAQ:PTRN) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.8889.

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Needham & Company LLC lifted their price target on shares of Pattern Group from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and issued a $27.00 price objective on shares of Pattern Group in a report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research note on Thursday, June 18th.

Insider Activity

In other news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.51, for a total transaction of $87,519.51. Following the transaction, the director directly owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 70.97% of the company’s stock.

Hedge Funds Weigh In On Pattern Group

Large investors have recently bought and sold shares of the stock. Capelight Capital Asset Management LP purchased a new position in shares of Pattern Group during the fourth quarter valued at approximately $923,000. Hudson Bay Capital Management LP bought a new stake in Pattern Group in the third quarter valued at $1,649,000. Allspring Global Investments Holdings LLC boosted its holdings 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 acquiring an additional 169,297 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Pattern Group during the 3rd quarter valued at $4,385,000. Finally, Knox Lane LP purchased a new position in Pattern Group during the 4th quarter valued at $325,157,000.

Pattern Group Trading Down 0.4%

Pattern Group stock opened at $28.01 on Thursday. The firm has a 50 day simple moving average of $22.09 and a 200 day simple moving average of $15.97. Pattern Group has a 1-year low of $8.92 and a 1-year high of $29.80. The firm has a market capitalization of $4.35 billion and a price-to-earnings ratio of -14.98.

Pattern Group (NASDAQ:PTRN) last announced its 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 company had revenue of $773.73 million during the quarter, compared to analysts’ expectations of $715.90 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue was up 43.2% on a year-over-year basis. On average, equities research analysts forecast that Pattern Group will post 0.56 EPS for the current year.

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.