Pattern Group (NASDAQ:PTRN) Hits New 52-Week High - Still a Buy?

Key Points

• Pattern Group shares hit a new 52-week high on Monday, trading as high as $29.63 before last changing hands near $28.60. Despite the rally, the stock was only down slightly on the session.
• Analyst sentiment is mostly positive, with 10 Buy ratings versus one Hold and one Sell, though the consensus price target of $21.78 sits below the current share price. Recent calls included Buy ratings from Goldman Sachs and Needham, while JPMorgan kept an Overweight rating.
• Recent earnings showed strong growth, as Pattern Group reported $0.16 EPS versus $0.10 expected and revenue of $773.73 million, up 43.2% year over year. The company also saw a director sell shares, while institutional investors continued to add positions.

Shares of Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $29.63 and last traded at $28.6010, with a volume of 1731 shares. The stock had previously closed at $28.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $27.00 price objective on shares of Pattern Group in a research report on Monday, June 29th. Wall Street Zen upgraded shares of Pattern Group from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Pattern Group in a research note on Thursday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Needham & Company LLC lifted their target price on Pattern Group from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Pattern Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.78.

Pattern Group Trading Down 0.3%

The stock has a market capitalization of $4.48 billion and a P/E ratio of -15.34. The company has a 50-day moving average price of $20.48 and a 200 day moving average price of $15.26.

Pattern Group (NASDAQ:PTRN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $773.73 million for the quarter, compared to analysts' expectations of $715.90 million. During the same period in the previous year, the company posted $0.17 earnings per share. The business's quarterly revenue was up 43.2% compared to the same quarter last year. As a group, research analysts expect that Pattern Group Inc. will post 0.56 earnings per share for the current year.

Insider Transactions at Pattern Group

In other Pattern Group news, Director Ann Mather sold 5,301 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.51, for a total value of $87,519.51. Following the completion of the sale, the director directly owned 31,509 shares in the company, valued at approximately $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 70.97% of the stock is owned by corporate insiders.

Institutional Trading of Pattern Group

Large investors have recently bought and sold shares of the stock. Clearstead Advisors LLC raised its holdings in shares of Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company's stock worth $27,000 after buying an additional 1,636 shares during the last quarter. Roxbury Financial LLC purchased a new position in Pattern Group during the 1st quarter worth approximately $40,000. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Pattern Group in the fourth quarter worth about $58,000. FNY Investment Advisers LLC acquired a new stake in Pattern Group during the third quarter worth about $137,000. Finally, Susquehanna International Group LLP acquired a new stake in Pattern Group during the third quarter worth about $137,000.

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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