Pattern Group (NASDAQ:PTRN) Trading 7.1% Higher – What’s Next?

Pattern Group Inc. (NASDAQ:PTRN)’s share price rose 7.1% on Monday . The company traded as high as $15.45 and last traded at $15.29. Approximately 283,433 shares were traded during trading, a decline of 70% from the average daily volume of 942,399 shares. The stock had previously closed at $14.27.

Analyst Upgrades and Downgrades

Several research firms recently commented on PTRN. Weiss Ratings reiterated a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Robert W. Baird increased their price target on Pattern Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. The Goldman Sachs Group assumed coverage on Pattern Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $17.00 price objective on the stock. KeyCorp upped their price objective on shares of Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, William Blair assumed coverage on shares of Pattern Group in a research note on Tuesday, October 14th. They issued an “outperform” rating for the company. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Pattern Group Price Performance

The company has a market capitalization of $2.41 billion and a PE ratio of -7.13. The company has a fifty day simple moving average of $13.37.

Pattern Group (NASDAQ:PTRN) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $570.78 million.

Hedge Funds Weigh In On Pattern Group

Several hedge funds have recently bought and sold shares of PTRN. SG Americas Securities LLC purchased a new stake in Pattern Group in the 3rd quarter worth approximately $168,000. Steadview Capital Management LLC bought a new position in shares of Pattern Group in the third quarter worth $5,480,000. Teacher Retirement System of Texas purchased a new stake in shares of Pattern Group in the third quarter worth $2,740,000. Copia Wealth Management bought a new stake in Pattern Group during the third quarter valued at $294,000. Finally, Federated Hermes Inc. bought a new position in Pattern Group in the 3rd quarter worth about $247,000.

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.