Pattern Group Inc. (NASDAQ:PTRN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Pattern Group Inc. (NASDAQ:PTRN) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.00.

A number of equities analysts have commented on PTRN shares. Weiss Ratings raised Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. KeyCorp lifted their price target on Pattern Group from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group lowered Pattern Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $21.00 to $30.00 in a research note on Tuesday, July 14th. Evercore reiterated an “outperform” rating and set a $29.00 price target on shares of Pattern Group in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $31.00 price objective on shares of Pattern Group in a research note on Thursday, August 6th.

Institutional Investors Weigh In On Pattern Group

A number of hedge funds have recently modified their holdings of the business. Knox Lane LP acquired a new position in Pattern Group during the fourth quarter worth about $325,157,000. Wasatch Advisors LP raised its holdings in shares of Pattern Group by 28.4% during 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 during the period. Norges Bank acquired a new position in shares of Pattern Group during the 4th quarter valued at about $25,965,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Pattern Group by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,101,545 shares of the company’s stock valued at $25,723,000 after purchasing an additional 23,589 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Pattern Group by 4.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,184,716 shares of the company’s stock valued at $13,672,000 after purchasing an additional 48,837 shares during the period.

Pattern Group Stock Down 0.4%

Shares of NASDAQ PTRN opened at $17.33 on Tuesday. The firm has a market cap of $2.70 billion and a price-to-earnings ratio of -10.08. The company’s 50-day simple moving average is $20.65 and its 200-day simple moving average is $19.16. Pattern Group has a 52-week low of $8.92 and a 52-week high of $29.80.

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

About Pattern Group

Pattern Group Inc is a global e-commerce acceleration company that helps consumer brands grow and manage their businesses across online marketplaces and other digital sales channels. The company combines technology, data analytics and operational services to support brands throughout the e-commerce lifecycle.

Pattern’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and channel strategy, fulfillment and logistics, and brand protection.