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

Key Points

• Wall Street analysts rate Pattern Group “Moderate Buy”: Nine of 12 analysts recommend buying the stock, with an average 12-month price target of $27.00.
• Recent analysts raised their price targets to between $26 and $30, although Jefferies downgraded the shares from “buy” to “hold” while increasing its target to $30.
• Pattern Group shares opened at $16.77, down 1.5%, while the company’s latest quarterly earnings of $0.15 per share exceeded estimates of $0.12; however, it reported a negative net margin of 4.57%.

Shares of Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $27.00.

PTRN has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Pattern Group from a "buy" rating to a "hold" rating and boosted their price objective for the company from $21.00 to $30.00 in a research report on Tuesday, July 14th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $28.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. Needham & Company LLC boosted their price target on Pattern Group from $24.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, August 6th. KeyCorp lifted their price objective on Pattern Group from $20.00 to $30.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Finally, Robert W. Baird set a $26.00 target price on Pattern Group in a research note on Thursday, August 6th.

Pattern Group Stock Down 1.5%

Shares of NASDAQ:PTRN opened at $16.77 on Tuesday. The company has a market capitalization of $2.61 billion and a P/E ratio of -9.75. Pattern Group has a 52-week low of $8.92 and a 52-week high of $29.80. The stock's fifty day simple moving average is $21.20 and its 200-day simple moving average is $19.07.

Pattern Group (NASDAQ:PTRN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating 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. On average, sell-side analysts anticipate that Pattern Group will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Clearstead Advisors LLC grew its holdings in Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company's stock valued at $27,000 after purchasing an additional 1,636 shares during the period. Roxbury Financial LLC purchased a new position in Pattern Group during the first quarter worth approximately $40,000. Arizona State Retirement System acquired a new position in shares of Pattern Group in the 2nd quarter valued at $226,000. Corient Private Wealth LP acquired a new position in shares of Pattern Group in the 2nd quarter valued at $261,000. Finally, Jacobs Equity LLC purchased a new stake in shares of Pattern Group during the 4th quarter valued at $151,000.

About Pattern Group

Pattern Group Inc is an e-commerce technology and services company that helps brands grow and manage their businesses across online marketplaces and other digital retail channels. The company combines technology, data analytics and operational services to support brands throughout the e-commerce lifecycle, from marketplace strategy and product content to advertising, sales management and fulfillment.

Pattern Group's services are designed to help consumer brands improve their digital presence, expand distribution and optimize performance on platforms such as Amazon and other major online marketplaces.

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