Analysts Set Pattern Group Inc. (NASDAQ:PTRN) Price Target at $21.00

Shares of Pattern Group Inc. (NASDAQ:PTRN) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several brokerages recently issued reports on PTRN. Weiss Ratings reiterated a “sell (d)” rating on shares of Pattern Group in a research report on Wednesday, December 24th. William Blair assumed coverage on shares of Pattern Group in a research note on Tuesday, October 14th. They set an “outperform” rating for the company. Stifel Nicolaus set a $22.00 price target on shares of Pattern Group in a research report on Thursday, November 6th. Wall Street Zen raised Pattern Group to a “hold” rating in a research note on Saturday, October 11th. Finally, JPMorgan Chase & Co. lifted their target price on Pattern Group from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th.

Hedge Funds Weigh In On Pattern Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors acquired a new position in shares of Pattern Group in the third quarter valued at approximately $23,975,000. Vanguard Group Inc. acquired a new stake in shares of Pattern Group during the third quarter worth $20,640,000. Woodline Partners LP purchased a new position in shares of Pattern Group during the 3rd quarter worth approximately $19,678,000. Alyeska Investment Group L.P. acquired a new position in shares of Pattern Group during the 3rd quarter worth $15,755,000. Finally, Westfield Capital Management Co. LP purchased a new position in Pattern Group in the 3rd quarter valued at approximately $15,562,000.

Pattern Group Stock Down 4.4%

Shares of NASDAQ PTRN opened at $11.84 on Friday. The firm’s 50-day moving average is $14.75. The firm has a market capitalization of $1.83 billion and a price-to-earnings ratio of -5.41. Pattern Group has a 1-year low of $11.30 and a 1-year high of $20.10.

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

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.