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

Shares of Pattern Group Inc. (NASDAQ:PTRN) have earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $22.8889.

Several analysts recently commented on PTRN shares. JPMorgan Chase & Co. boosted their price target on Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Jefferies Financial Group lowered Pattern Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $21.00 to $30.00 in a report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $27.00 target price on shares of Pattern Group in a research note on Monday, June 29th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Needham & Company LLC increased their target price on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, May 7th.

Insiders Place Their Bets

In related news, Director Ann Mather sold 5,301 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the sale, the director owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. This represents a 14.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 70.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PTRN. Clearstead Advisors LLC grew its position in shares of Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock valued at $27,000 after purchasing an additional 1,636 shares in the last quarter. Roxbury Financial LLC purchased a new position in Pattern Group during the first quarter worth approximately $40,000. Federation des caisses Desjardins du Quebec acquired a new position in Pattern Group during the fourth quarter worth $58,000. FNY Investment Advisers LLC purchased a new stake in Pattern Group in the 3rd quarter valued at $137,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Pattern Group in the 3rd quarter worth $137,000.

Pattern Group Trading Down 2.8%

PTRN stock opened at $28.11 on Thursday. Pattern Group has a 12-month low of $8.92 and a 12-month high of $29.80. The business’s 50-day moving average is $21.85 and its 200 day moving average is $15.83. The stock has a market cap of $4.36 billion and a price-to-earnings ratio of -15.03.

Pattern Group (NASDAQ:PTRN) last announced its 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 firm had revenue of $773.73 million for the quarter, compared to analyst estimates of $715.90 million. Pattern Group’s revenue was up 43.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. As a group, equities analysts forecast that Pattern Group will post 0.56 EPS for the current fiscal year.

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.