Pattern Group Inc. (NASDAQ:PTRN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Pattern Group Inc. (NASDAQ:PTRN) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.00.

Several analysts have issued reports on PTRN shares. William Blair started coverage on Pattern Group in a research note on Tuesday, October 14th. They issued an “outperform” rating on the stock. Robert W. Baird increased their price target on Pattern Group from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. The Goldman Sachs Group began coverage on shares of Pattern Group in a research report on Tuesday, October 14th. They set a “buy” rating and a $17.00 price objective for the company. Zacks Research upgraded shares of Pattern Group to a “hold” rating in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group set a $20.00 target price on shares of Pattern Group in a report on Thursday, December 11th.

Institutional Trading of Pattern Group

Several hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Pattern Group in the 3rd quarter valued at $137,000. Hudson Bay Capital Management LP bought a new position in Pattern Group during the third quarter worth about $1,649,000. Tudor Investment Corp ET AL acquired a new position in shares of Pattern Group during the 3rd quarter worth approximately $4,385,000. Woodline Partners LP bought a new position in shares of Pattern Group during the third quarter worth approximately $19,678,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Pattern Group in the third quarter valued at approximately $15,755,000.

Pattern Group Stock Up 3.1%

PTRN stock opened at $11.84 on Friday. The business’s fifty day moving average price is $14.81. Pattern Group has a twelve month low of $11.30 and a twelve month high of $20.10.

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, beating analysts’ consensus estimates of ($2.71) by $0.52. The firm had revenue of $639.66 million during the quarter, compared to the consensus estimate of $570.78 million.

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.