Wall Street Zen cut shares of Pattern Group (NASDAQ:PTRN – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
PTRN has been the topic of a number of other reports. Jefferies Financial Group lowered Pattern Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $21.00 to $30.00 in a research note on Tuesday, July 14th. Needham & Company LLC upped their price objective on Pattern Group from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird set a $26.00 price objective on Pattern Group in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $28.00 target price on shares of Pattern Group in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.89.
Read Our Latest Stock Report on Pattern Group
Pattern Group Stock Performance
NASDAQ PTRN opened at $18.27 on Friday. The firm’s fifty day moving average price is $18.25 and its two-hundred day moving average price is $17.60. The stock has a market cap of $2.84 billion, a PE ratio of 28.11 and a beta of 1.29. Pattern Group has a fifty-two week low of $8.92 and a fifty-two week high of $29.80.
Pattern Group (NASDAQ:PTRN – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Pattern Group had a return on equity of 203.14% and a net margin of 3.61%. The company had revenue of $885.85 million during the quarter. During the same quarter in the previous year, the company posted ($2.19) earnings per share. The firm’s revenue was up 38.5% on a year-over-year basis. As a group, sell-side analysts predict that Pattern Group will post 0.64 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in PTRN. Sterling Capital Management LLC boosted its stake in shares of Pattern Group by 1,400.9% in the 3rd quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock valued at $29,000 after purchasing an additional 1,597 shares during the last quarter. State of Wyoming bought a new position in Pattern Group during the third quarter worth $106,000. State of Alaska Department of Revenue bought a new position in Pattern Group during the third quarter worth $148,000. Counterpoint Mutual Funds LLC acquired a new position in Pattern Group in the third quarter valued at $223,000. Finally, Arizona State Retirement System acquired a new position in Pattern Group in the second quarter valued at $226,000.
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.
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