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

Shares of Pattern Group Inc. (NASDAQ:PTRN) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $21.00.

A number of research firms have weighed in on PTRN. William Blair assumed coverage on shares of Pattern Group in a research note on Tuesday, October 14th. They issued an “outperform” rating on the stock. BMO Capital Markets raised their price target on shares of Pattern Group from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded Pattern Group to a “hold” rating in a research note on Saturday, October 11th. Robert W. Baird increased their price objective on Pattern Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Zacks Research raised Pattern Group to a “hold” rating in a research report on Wednesday, October 15th.

Pattern Group Trading Down 1.0%

PTRN stock opened at $15.62 on Thursday. The business’s 50 day moving average price is $13.37. The firm has a market cap of $2.41 billion and a P/E ratio of -7.13. Pattern Group has a fifty-two week low of $11.21 and a fifty-two week high of $20.10.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, beating the consensus estimate of ($2.71) by $0.52. The firm had revenue of $639.66 million for the quarter, compared to the consensus estimate of $570.78 million.

Institutional Trading of Pattern Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Pattern Group by 8.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,077,956 shares of the company’s stock valued at $23,896,000 after purchasing an additional 169,297 shares in the last quarter. Capital World Investors purchased a new stake in Pattern Group in the 3rd quarter valued at about $23,975,000. Vanguard Group Inc. bought a new position in shares of Pattern Group during the 3rd quarter worth approximately $20,640,000. Woodline Partners LP purchased a new position in shares of Pattern Group in the 3rd quarter worth approximately $19,678,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Pattern Group in the third quarter valued at approximately $15,755,000.

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.