Pattern Group Inc. (PTRN) - What Are Analysts Saying About This Stock?

Key Points

• Analysts hold a moderately bullish view: Pattern Group has a consensus “Moderate Buy” rating from 10 analysts, including eight buys, one hold, and one sell. The average 12-month price target is $27, well above the stock’s reported $16.19 price.
• Recent quarterly results exceeded expectations: The company reported quarterly EPS of $0.15 versus the $0.12 consensus estimate, with revenue of $876.77 million. However, it posted a negative net margin of 4.57% and negative return on equity.
• Institutional interest has increased: Several funds recently initiated or expanded positions in Pattern Group, including Sterling Capital Management, which raised its stake by more than 1,400%.

Shares of Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $27.00.

A number of brokerages have recently commented on PTRN. The Goldman Sachs Group reiterated a "buy" rating and issued a $31.00 price target on shares of Pattern Group in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Pattern Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Robert W. Baird set a $26.00 target price on shares of Pattern Group in a report on Thursday, August 6th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $28.00 target price on shares of Pattern Group in a research report on Thursday, August 6th. Finally, Evercore reiterated an "outperform" rating and set a $29.00 target price on shares of Pattern Group in a research note on Thursday, August 6th.

Pattern Group Price Performance

PTRN stock opened at $16.19 on Friday. Pattern Group has a 1-year low of $8.92 and a 1-year high of $29.80. The business has a fifty day moving average price of $19.05 and a 200-day moving average price of $19.75. The stock has a market capitalization of $2.52 billion and a P/E ratio of -9.41.

Pattern Group (NASDAQ:PTRN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Pattern Group had a negative return on equity of 318.79% and a negative net margin of 4.57%. The company had revenue of $876.77 million for the quarter. As a group, analysts anticipate that Pattern Group will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in shares of Pattern Group by 1,400.9% during the 3rd quarter. Sterling Capital Management LLC now owns 1,711 shares of the company's stock valued at $29,000 after buying an additional 1,597 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Pattern Group in the third quarter worth about $148,000. Arizona State Retirement System bought a new stake in Pattern Group during the second quarter worth approximately $226,000. Corient Private Wealth LP bought a new stake in Pattern Group during the second quarter worth approximately $261,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Pattern Group during the third quarter worth approximately $223,000.

About Pattern Group

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.

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