JPMorgan Chase & Co. Issues Positive Forecast for Pattern Group (NASDAQ:PTRN) Stock Price

Pattern Group (NASDAQ:PTRN) had its price objective lifted by analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 68.12% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $31.00 price target on shares of Pattern Group in a research note on Thursday, August 6th. KeyCorp dropped their price objective on shares of Pattern Group from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Monday. Weiss Ratings upgraded shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Needham & Company LLC increased their target price on Pattern Group from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $28.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Pattern Group Stock Performance

NASDAQ PTRN traded down $0.43 on Thursday, hitting $17.25. The stock had a trading volume of 1,567,053 shares, compared to its average volume of 1,458,631. The firm has a 50-day moving average of $18.40 and a 200-day moving average of $17.56. Pattern Group has a 52-week low of $8.92 and a 52-week high of $29.80. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.03 and a beta of 1.29.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 318.79%. The firm had revenue of $885.85 million for the quarter. During the same period in the previous year, the company posted ($2.19) EPS. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, research analysts anticipate that Pattern Group will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pattern Group during the third quarter valued at about $336,000. ProShare Advisors LLC bought a new position in shares of Pattern Group during the third quarter valued at about $1,785,000. State of Wyoming bought a new position in shares of Pattern Group during the third quarter valued at about $106,000. Sterling Capital Management LLC increased its holdings in shares of Pattern Group by 1,400.9% in the third quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock worth $29,000 after buying an additional 1,597 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Pattern Group in the third quarter worth about $223,000.

Key Headlines Impacting Pattern Group

Here are the key news stories impacting Pattern Group this week:

• Positive Sentiment: Q3 earnings were $0.18 per share, ahead of the $0.16 consensus and a loss of $2.19 a year earlier. Revenue rose 38.5% year over year to about $886 million. Q3 earnings and revenue beat estimates
• Positive Sentiment: Management forecast Q4 revenue of $965 million to $985 million and raised its full-year revenue outlook to about $3.5 billion, signaling continued growth. Q4 forecast and raised full-year outlook
• Positive Sentiment: Needham raised its price target to $32 from $29 and maintained a Buy rating, a bullish analyst signal. Needham price target update
• Negative Sentiment: Profitability remains a concern: the company reported a negative net margin and negative return on equity. KeyCorp also lowered its expectations for PTRN’s stock price, suggesting some analysts remain cautious. KeyCorp lowers stock price expectations

About Pattern Group

Pattern Group Inc (NASDAQ: PTRN) is an e-commerce technology and services company that helps brands grow and manage their online businesses. Its platform combines software, data, and operational services to support product distribution and sales across major digital marketplaces, retailer websites, and other e-commerce channels.

The company’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and assortment strategy, fulfillment coordination, and analytics.