Pattern Group (NASDAQ:PTRN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Pattern Group (NASDAQ:PTRN) had its price target lifted by stock analysts at Needham & Company LLC from $24.00 to $29.00 in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 31.52% from the stock’s previous close.

Several other research analysts also recently weighed in on PTRN. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a report on Thursday, June 18th. Jefferies Financial Group cut shares of Pattern Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $21.00 to $30.00 in a report on Tuesday, July 14th. KeyCorp boosted their target price on shares of Pattern Group from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $27.00 price target on shares of Pattern Group in a research report on Monday, June 29th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Pattern Group presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Pattern Group Stock Performance

Shares of Pattern Group stock opened at $22.05 on Thursday. The stock has a market capitalization of $3.42 billion and a PE ratio of -12.82. Pattern Group has a 52 week low of $8.92 and a 52 week high of $29.80. The stock has a 50 day moving average price of $23.70 and a two-hundred day moving average price of $16.96.

Pattern Group (NASDAQ:PTRN) last issued its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Pattern Group had a negative return on equity of 475.61% and a negative net margin of 4.57%.The company had revenue of $876.77 million for the quarter. Research analysts forecast that Pattern Group will post 0.58 EPS for the current year.

Insider Transactions at Pattern Group

In other Pattern Group news, Director Ann Mather sold 5,301 shares of Pattern Group stock in a transaction 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 transaction, the director directly owned 31,509 shares of the company’s stock, valued at $520,213.59. The trade was a 14.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 70.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC grew 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 worth $27,000 after purchasing an additional 1,636 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Pattern Group during the 1st quarter worth approximately $40,000. Federation des caisses Desjardins du Quebec purchased a new position in shares of Pattern Group in the 4th quarter worth approximately $58,000. Susquehanna International Group LLP purchased a new position in shares of Pattern Group in the 3rd quarter worth approximately $137,000. Finally, Jacobs Equity LLC bought a new position in shares of Pattern Group in the fourth quarter valued at approximately $151,000.

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.