Pattern Group Inc. (NASDAQ:PTRN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Pattern Group, with nine buy, two hold, and one sell rating among 12 brokerages. The average 12-month price target is $27.00, above the reported $20.59 share price.
• Recent coverage was mixed: Goldman Sachs reaffirmed a $31 buy target, while Jefferies downgraded the stock to hold but raised its target to $30; BMO Capital Markets maintained an outperform rating with a $28 target.
• Pattern Group exceeded quarterly EPS expectations, reporting $0.15 versus the $0.12 consensus, on $876.77 million in revenue. However, the company remains unprofitable, with a negative net margin of 4.57% and a negative return on equity of 318.79%.

Shares of Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.00.

Several brokerages recently issued reports on PTRN. Weiss Ratings upgraded Pattern Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Robert W. Baird set a $26.00 price objective on Pattern Group in a research note on Thursday, August 6th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $31.00 price objective on shares of Pattern Group in a report on Thursday, August 6th. Jefferies Financial Group downgraded Pattern Group from a "buy" rating to a "hold" rating and upped their target price for the company from $21.00 to $30.00 in a research report on Tuesday, July 14th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $28.00 target price on shares of Pattern Group in a report on Thursday, August 6th.

Institutional Investors Weigh In On Pattern Group

Large investors have recently bought and sold shares of the company. Clearstead Advisors LLC boosted its position in shares of Pattern Group by 222.0% during the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company's stock worth $27,000 after acquiring an additional 1,636 shares in the last quarter. Roxbury Financial LLC acquired a new position in Pattern Group during the first quarter valued at approximately $40,000. Barclays PLC boosted its holdings in shares of Pattern Group by 25.2% in the 4th quarter. Barclays PLC now owns 16,652 shares of the company's stock valued at $192,000 after purchasing an additional 3,352 shares in the last quarter. Federation des caisses Desjardins du Quebec bought a new position in shares of Pattern Group in the 4th quarter valued at $58,000. Finally, Susquehanna International Group LLP bought a new position in shares of Pattern Group in the 3rd quarter valued at $137,000.

Pattern Group Stock Performance

NASDAQ:PTRN opened at $20.59 on Friday. Pattern Group has a 52 week low of $8.92 and a 52 week high of $29.80. The firm's 50-day simple moving average is $23.92 and its 200 day simple moving average is $18.03. The firm has a market cap of $3.21 billion and a price-to-earnings ratio of -11.97.

Pattern Group (NASDAQ:PTRN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Sell-side analysts anticipate that Pattern Group will post 0.6 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.

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