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

Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are covering the company, MarketBeat.com reports. One 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 twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.00.

Several research analysts have recently commented on the company. Evercore reissued an "outperform" rating and issued a $29.00 price target on shares of Pattern Group in a research report on Thursday. Needham & Company LLC raised their price objective on Pattern Group from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group reiterated a "buy" rating and issued a $31.00 target price on shares of Pattern Group in a research note on Thursday. KeyCorp increased their price target 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. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Pattern Group in a research report on Thursday, June 18th.

Pattern Group Price Performance

Shares of PTRN stock opened at $22.05 on Monday. The firm has a market cap of $3.43 billion and a price-to-earnings ratio of -12.82. Pattern Group has a 52-week low of $8.92 and a 52-week high of $29.80. The company's 50 day moving average is $23.70 and its 200 day moving average is $16.98.

Pattern Group (NASDAQ:PTRN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates 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 475.61% and a negative net margin of 4.57%. Analysts anticipate that Pattern Group will post 0.6 EPS for the current fiscal year.

Insider Activity at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the sale, the director owned 31,509 shares of the company's stock, valued at $520,213.59. This represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 70.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pattern Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Knox Lane LP purchased a new stake in shares of Pattern Group during the 4th quarter valued at $325,157,000. Norges Bank purchased a new position in Pattern Group during the 4th quarter worth $25,965,000. Wasatch Advisors LP purchased a new position in Pattern Group during the 4th quarter worth $23,144,000. Vanguard Group Inc. acquired a new position in Pattern Group during the 3rd quarter valued at about $20,640,000. Finally, Woodline Partners LP acquired a new position in Pattern Group during the 3rd quarter valued at about $19,678,000.

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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