Pattern Group’s (PTRN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Pattern Group (NASDAQ:PTRN) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $22.00 price objective on the stock.

Several other research analysts have also weighed in on PTRN. Wall Street Zen upgraded shares of Pattern Group to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Zacks Research upgraded shares of Pattern Group to a “hold” rating in a research report on Wednesday, October 15th. KeyCorp increased their price objective on shares of Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Pattern Group in a research report on Tuesday, October 14th. They set a “buy” rating and a $17.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pattern Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Pattern Group Price Performance

Shares of PTRN stock opened at $13.88 on Thursday. The business’s fifty day simple moving average is $13.75. The firm has a market capitalization of $2.14 billion and a price-to-earnings ratio of -6.34. Pattern Group has a 1-year low of $11.21 and a 1-year high of $20.10.

Pattern Group (NASDAQ:PTRN) last issued its earnings results on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, topping the consensus estimate 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 large investors have recently added to or reduced their stakes in PTRN. Dragoneer Investment Group LLC purchased a new position in shares of Pattern Group in the 3rd quarter valued at $6,709,000. Altimeter Capital Management LP acquired a new position in shares of Pattern Group in the third quarter worth about $9,884,000. Ghisallo Capital Management LLC purchased a new position in shares of Pattern Group during the 3rd quarter valued at approximately $2,740,000. Capital World Investors acquired a new stake in shares of Pattern Group during the third quarter worth approximately $23,975,000. Finally, Monashee Investment Management LLC bought a new stake in shares of Pattern Group in the third quarter worth $2,055,000.

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.