Pattern Group Inc. (NASDAQ:PTRN) Stock Has Consensus Price Target of $27.00 According to Analysts

Shares of Pattern Group Inc. (NASDAQ:PTRN) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.00.

PTRN has been the subject of several research analyst reports. Jefferies Financial Group downgraded shares of Pattern Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $21.00 to $30.00 in a report on Tuesday, July 14th. KeyCorp increased their target price on shares of Pattern Group from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $31.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. BMO Capital Markets restated an “outperform” rating and set a $28.00 price target on shares of Pattern Group in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $26.00 price target on shares of Pattern Group in a research note on Thursday, August 6th.

Institutional Investors Weigh In On Pattern Group

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in shares of Pattern Group by 28.4% in the second quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock valued at $78,974,000 after buying an additional 692,735 shares during the period. Weiss Asset Management LP acquired a new position in Pattern Group during the first quarter worth about $3,212,000. Readystate Asset Management LP grew its holdings in Pattern Group by 363.9% during the second quarter. Readystate Asset Management LP now owns 212,964 shares of the company’s stock worth $5,365,000 after acquiring an additional 167,053 shares during the period. Sylebra Capital LLC acquired a new position in Pattern Group during the first quarter worth about $1,971,000. Finally, ProShare Advisors LLC bought a new stake in Pattern Group in the third quarter worth about $1,785,000.

Pattern Group Stock Down 1.8%

Shares of Pattern Group stock opened at $16.59 on Friday. The business’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $17.51. Pattern Group has a 1-year low of $8.92 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $876.77 million during the quarter. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%. On average, analysts predict that Pattern Group will post 0.63 EPS for the current fiscal year.

Pattern Group Company Profile

Pattern Group Inc (NASDAQ: PTRN) is an e-commerce technology and services company that helps brands grow and manage their online businesses. Its platform combines software, data, and operational services to support product distribution and sales across major digital marketplaces, retailer websites, and other e-commerce channels.

The company’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and assortment strategy, fulfillment coordination, and analytics.