Pattern Group Inc. (NASDAQ:PTRN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Pattern Group Inc. (NASDAQ:PTRN) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.2222.

PTRN has been the topic of several analyst reports. Stifel Nicolaus reduced their price target on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. JPMorgan Chase & Co. reduced their price target on shares of Pattern Group from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Pattern Group in a research report on Thursday, January 15th. Robert W. Baird reduced their price target on shares of Pattern Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research report on Monday, March 23rd.

Institutional Trading of Pattern Group

Institutional investors have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC increased its holdings in Pattern Group by 222.0% in the 4th 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 during the last quarter. Roxbury Financial LLC acquired a new stake in Pattern Group in the 1st quarter valued at approximately $40,000. Federation des caisses Desjardins du Quebec acquired a new stake in Pattern Group in the 4th quarter valued at approximately $58,000. PNC Financial Services Group Inc. acquired a new stake in Pattern Group in the 3rd quarter valued at approximately $89,000. Finally, FNY Investment Advisers LLC acquired a new stake in Pattern Group in the 3rd quarter valued at approximately $137,000.

Pattern Group Stock Performance

PTRN stock opened at $13.79 on Friday. The firm has a market cap of $2.14 billion and a PE ratio of -6.79. The firm’s 50 day moving average price is $12.10 and its 200-day moving average price is $13.33. Pattern Group has a one year low of $8.92 and a one year high of $20.10.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $723.10 million for the quarter, compared to analysts’ expectations of $691.35 million. The firm’s revenue was up 40.3% on a year-over-year basis. Equities research analysts predict that Pattern Group will post 0.46 EPS for the current fiscal year.

Pattern Group announced that its board has authorized a stock buyback plan on Thursday, March 5th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.