Pattern Group Inc. (NASDAQ:PTRN) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Moderate Buy consensus from 12 analysts (10 buy, 1 hold, 1 sell) with an average 12‑month price target of $20.22, implying material upside from Friday's open around $13.79.
• Pattern Group beat quarterly estimates with EPS of $0.16 vs. $0.12 expected and revenue of $723.1M (up 40.3% year‑over‑year versus $691.35M consensus).
• The company's board approved a $100 million share buyback (up to ~5.6% of shares), even as several analysts trimmed price targets recently (JPMorgan to $17, Stifel and Baird modestly lower).

Shares of Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.2222.

A number of research analysts recently weighed in on PTRN shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Pattern Group in a research note on Monday, March 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price target on shares of Pattern Group in a research note on Thursday, January 15th. Stifel Nicolaus decreased their price target on shares of Pattern Group from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Friday, March 6th. Robert W. Baird decreased their price target on shares of Pattern Group from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Pattern Group from $21.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, March 6th.

Pattern Group Trading Up 2.4%

Shares of Pattern Group stock opened at $13.79 on Friday. The firm has a market capitalization of $2.14 billion and a PE ratio of -6.79. Pattern Group has a twelve month low of $8.92 and a twelve month high of $20.10. The firm's 50-day moving average price is $12.10 and its 200 day moving average price is $13.33.

Pattern Group (NASDAQ:PTRN - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. The company had revenue of $723.10 million during the quarter, compared to analysts' expectations of $691.35 million. The firm's revenue was up 40.3% on a year-over-year basis. On average, sell-side analysts predict that Pattern Group will post 0.46 EPS for the current fiscal year.

Pattern Group declared that its board has authorized a share buyback program on Thursday, March 5th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC lifted its stake in Pattern Group by 222.0% in the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company's stock worth $27,000 after purchasing an additional 1,636 shares in the last quarter. Roxbury Financial LLC purchased a new position in Pattern Group in the 1st quarter worth approximately $40,000. Barclays PLC lifted its stake in Pattern Group by 25.2% in the 4th quarter. Barclays PLC now owns 16,652 shares of the company's stock worth $192,000 after purchasing an additional 3,352 shares in the last quarter. Federation des caisses Desjardins du Quebec purchased a new position in Pattern Group in the 4th quarter worth approximately $58,000. Finally, PNC Financial Services Group Inc. purchased a new position in Pattern Group in the 3rd quarter worth approximately $89,000.

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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