Brokerages Set Pattern Group Inc. (NASDAQ:PTRN) Target Price at $22.89

Shares of Pattern Group Inc. (NASDAQ:PTRN) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.8889.

Several brokerages have commented on PTRN. JPMorgan Chase & Co. upped their target price on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Jefferies Financial Group cut shares of Pattern Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $21.00 to $30.00 in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $27.00 price target on shares of Pattern Group in a report on Monday, June 29th. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research report on Thursday, June 18th. Finally, Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th.

Pattern Group Trading Down 5.5%

Shares of PTRN opened at $24.81 on Thursday. The stock has a market cap of $3.85 billion and a P/E ratio of -13.27. Pattern Group has a 1 year low of $8.92 and a 1 year high of $29.80. The stock’s 50-day moving average price is $22.44 and its two-hundred day moving average price is $16.17.

Pattern Group (NASDAQ:PTRN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company had revenue of $773.73 million during the quarter, compared to the consensus estimate of $715.90 million. The business’s revenue was up 43.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. As a group, equities analysts forecast that Pattern Group will post 0.56 EPS for the current year.

Insider Activity

In other news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.51, for a total transaction of $87,519.51. Following the sale, the director owned 31,509 shares of the company’s stock, valued at $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 70.97% of the stock is owned by company insiders.

Institutional Trading of Pattern Group

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