Needham analyst Bernie McTernan reiterated a Buy rating on Pattern Group, Inc. Class A today and set a price target of $22.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Bernie McTernan’s rating is based on several compelling factors that highlight the potential of Pattern Group, Inc. Class A. The company has demonstrated impressive performance in the third quarter, surpassing expectations with a notable 46% revenue growth and achieving a record net revenue retention rate. This strong financial performance has led to an increase in adjusted EBITDA estimates for the coming years, indicating a positive outlook for the company’s profitability and cash flow generation.
Additionally, the evolving landscape of agentic commerce presents new challenges for brands, which enhances the value of Pattern Group’s expertise as a third-party service provider. This positions the company well to strengthen its relationships with existing clients and attract new customers. As a result, McTernan has raised the price target to $22, reflecting confidence in the company’s growth trajectory and the potential for further upside.
In another report released on November 4, Evercore ISI also maintained a Buy rating on the stock with a $19.00 price target.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTRN in relation to earlier this year.