Pattern Group (NASDAQ:PTRN) Trading 7.1% Higher – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms have issued reports on PTRN. William Blair started coverage on shares of Pattern Group in a report on Tuesday, October 14th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Wall Street Zen upgraded Pattern Group to a “hold” rating in a research note on Saturday, October 11th. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Pattern Group in a research note on Thursday, January 15th. Finally, Robert W. Baird upped their price objective on shares of Pattern Group from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pattern Group Price Performance

The business has a fifty day simple moving average of $13.35. The stock has a market capitalization of $2.48 billion and a PE ratio of -7.33.

Pattern Group (NASDAQ:PTRN) last posted its earnings results on Wednesday, November 5th. The company reported ($2.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.71) by $0.52. The firm had revenue of $639.66 million for the quarter, compared to analysts’ expectations of $570.78 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PTRN. PNC Financial Services Group Inc. purchased a new stake in Pattern Group in the 3rd quarter worth $89,000. FNY Investment Advisers LLC acquired a new stake in shares of Pattern Group in the third quarter valued at about $137,000. Susquehanna International Group LLP acquired a new stake in shares of Pattern Group in the third quarter valued at about $137,000. SG Americas Securities LLC purchased a new stake in shares of Pattern Group during the third quarter worth about $168,000. Finally, Greenland Capital Management LP acquired a new position in shares of Pattern Group during the 3rd quarter worth about $174,000.

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.