Klarna Group (NYSE:KLAR) Shares Down 4.6% – Here’s What Happened

Shares of Klarna Group plc (NYSE:KLAR) fell 4.6% during mid-day trading on Wednesday . The company traded as low as $12.96 and last traded at $12.9280. 4,258,341 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 6,081,570 shares. The stock had previously closed at $13.55.

Analyst Upgrades and Downgrades

A number of research firms have commented on KLAR. Bank of America assumed coverage on Klarna Group in a research report on Thursday, March 5th. They set a “buy” rating and a $21.00 price target for the company. Morgan Stanley dropped their price target on Klarna Group from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Keefe, Bruyette & Woods decreased their price objective on shares of Klarna Group from $45.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Wells Fargo & Company dropped their target price on shares of Klarna Group from $45.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Klarna Group from $40.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Klarna Group Stock Performance

The company has a market capitalization of $4.64 billion and a PE ratio of -15.95. The business’s 50-day moving average is $18.32 and its 200-day moving average is $29.10.

Klarna Group (NYSE:KLAR) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Klarna Group had a negative return on equity of 11.62% and a negative net margin of 8.41%.The company had revenue of $0.87 million during the quarter. The company’s revenue was up 38.5% compared to the same quarter last year.

Institutional Trading of Klarna Group

Several hedge funds have recently bought and sold shares of KLAR. Global Retirement Partners LLC lifted its position in shares of Klarna Group by 800.0% during the 4th quarter. Global Retirement Partners LLC now owns 900 shares of the company’s stock valued at $26,000 after buying an additional 800 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Klarna Group in the 4th quarter worth $29,000. US Bancorp DE bought a new stake in shares of Klarna Group in the 3rd quarter worth about $30,000. BIT Capital GmbH purchased a new stake in Klarna Group during the third quarter valued at approximately $37,000. Finally, Allworth Financial LP purchased a new stake in Klarna Group during the third quarter valued at approximately $37,000.

About Klarna Group

Klarna Group is a global payments provider specializing in “buy now, pay later” (BNPL) solutions for online and in-store shoppers. The company partners with merchants to offer flexible payment options, including interest-free installments and deferred payments, aiming to enhance conversion rates and customer loyalty. Klarna’s platform integrates risk assessment, fraud prevention, and a one-click checkout experience to streamline transactions for both retailers and consumers.

Through its digital wallet and mobile app, Klarna enables users to manage purchases, track spending and access exclusive shopping offers from partner merchants.