Pattern Group’s (PTRN) “Buy” Rating Reaffirmed at Needham & Company LLC

Pattern Group (NASDAQ:PTRN)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $22.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 69.10% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Stifel Nicolaus set a $22.00 target price on shares of Pattern Group in a report on Thursday, November 6th. The Goldman Sachs Group assumed coverage on shares of Pattern Group in a report on Tuesday, October 14th. They set a “buy” rating and a $17.00 price target on the stock. BMO Capital Markets upped their price target on shares of Pattern Group from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group set a $20.00 price objective on shares of Pattern Group in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pattern Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Pattern Group Price Performance

NASDAQ PTRN opened at $13.01 on Thursday. Pattern Group has a 1 year low of $11.21 and a 1 year high of $20.10. The firm has a fifty day moving average of $13.90. The company has a market capitalization of $2.01 billion and a PE ratio of -5.94.

Pattern Group (NASDAQ:PTRN) last issued its earnings results on Wednesday, November 5th. The company reported ($2.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.71) by $0.52. The company had revenue of $639.66 million during the quarter, compared to analyst estimates of $570.78 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors acquired a new position in Pattern Group in the 3rd quarter valued at approximately $23,975,000. Vanguard Group Inc. purchased a new position in shares of Pattern Group during the 3rd quarter valued at $20,640,000. Woodline Partners LP acquired a new position in shares of Pattern Group in the third quarter worth $19,678,000. Alyeska Investment Group L.P. purchased a new stake in shares of Pattern Group during the third quarter worth $15,755,000. Finally, Westfield Capital Management Co. LP acquired a new stake in Pattern Group during the third quarter valued at $15,562,000.

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.