Pattern Group (NASDAQ:PTRN) Upgraded at Wall Street Zen

Pattern Group (NASDAQ:PTRN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. Stifel Nicolaus lowered their target price on Pattern Group from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Friday, March 6th. JPMorgan Chase & Co. lifted their price target on shares of Pattern Group from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of Pattern Group in a research note on Monday, March 23rd. Needham & Company LLC upped their price objective on shares of Pattern Group from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Robert W. Baird dropped their price objective 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. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.67.

Pattern Group Price Performance

Shares of Pattern Group stock opened at $15.92 on Friday. The business has a 50-day simple moving average of $12.42 and a 200 day simple moving average of $13.35. Pattern Group has a one year low of $8.92 and a one year high of $20.10. The firm has a market capitalization of $2.47 billion and a price-to-earnings ratio of -7.84.

Pattern Group (NASDAQ:PTRN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. The firm had revenue of $773.73 million during the quarter, compared to the consensus estimate of $715.90 million. During the same quarter in the previous year, the company posted $0.17 EPS. The firm's revenue was up 43.2% on a year-over-year basis. On average, sell-side analysts expect that Pattern Group will post 0.46 EPS for the current year.

Pattern Group announced that its Board of Directors has approved a stock repurchase program on Thursday, March 5th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Pattern Group

Several institutional investors have recently bought and sold shares of the stock. Clearstead Advisors LLC raised its position in Pattern Group by 222.0% in the 4th quarter. Clearstead Advisors LLC now owns 2,373 shares of the company's stock valued at $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 $40,000. Federation des caisses Desjardins du Quebec purchased a new position in Pattern Group during the 4th quarter worth $58,000. PNC Financial Services Group Inc. bought a new stake in shares of Pattern Group in the 3rd quarter worth $89,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Pattern Group in the 3rd quarter worth $137,000.

Pattern Group Company Profile

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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