Needham & Company LLC Issues Positive Forecast for Pattern Group (NASDAQ:PTRN) Stock Price

Pattern Group (NASDAQ:PTRN) had its price objective boosted by research analysts at Needham & Company LLC from $24.00 to $29.00 in a report released on Thursday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 22.73% from the stock’s current price.

Several other brokerages have also issued reports on PTRN. JPMorgan Chase & Co. upped their target price on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and set a $27.00 price target on shares of Pattern Group in a research report on Monday, June 29th. KeyCorp upped their price objective on Pattern Group from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Pattern Group in a research report on Thursday, June 18th. Finally, Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.56.

Pattern Group Price Performance

Shares of Pattern Group stock opened at $23.63 on Thursday. Pattern Group has a 1 year low of $8.92 and a 1 year high of $29.80. The firm has a market cap of $3.67 billion and a PE ratio of -12.64. The company has a 50 day simple moving average of $23.57 and a two-hundred day simple moving average of $16.87.

Pattern Group (NASDAQ:PTRN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $876.77 million during the quarter. As a group, research analysts anticipate that Pattern Group will post 0.56 earnings per share for the current year.

Insider Activity at Pattern Group

In related news, Director Ann Mather sold 5,301 shares of Pattern Group stock in a transaction on Friday, May 15th. The shares were sold at an average price of $16.51, for a total value of $87,519.51. Following the transaction, the director owned 31,509 shares in the company, valued at $520,213.59. This trade represents a 14.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 70.97% of the company’s stock.

Institutional Trading of Pattern Group

Several institutional investors have recently added to or reduced their stakes in PTRN. Clearstead Advisors LLC grew its stake in shares of Pattern Group by 222.0% during the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock valued at $27,000 after buying an additional 1,636 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Pattern Group in the 1st quarter valued at about $40,000. Federation des caisses Desjardins du Quebec purchased a new stake in Pattern Group during the 4th quarter valued at about $58,000. Susquehanna International Group LLP purchased a new stake in Pattern Group during the 3rd quarter valued at about $137,000. Finally, Jacobs Equity LLC bought a new position in Pattern Group during the 4th quarter worth approximately $151,000.

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.