Klarna Group (NYSE:KLAR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Klarna Group (NYSE:KLAR) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Zacks Research lowered Klarna Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Scotiabank initiated coverage on Klarna Group in a research note on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 price objective for the company. Loop Capital initiated coverage on Klarna Group in a report on Wednesday, September 9th. They issued a “hold” rating and a $18.00 target price on the stock. Finally, Barclays cut their target price on Klarna Group from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.79.

Klarna Group Stock Down 0.9%

Shares of KLAR opened at $13.68 on Friday. The business’s fifty day moving average is $16.74 and its 200 day moving average is $16.10. Klarna Group has a 12-month low of $12.06 and a 12-month high of $44.75. The stock has a market cap of $5.16 billion and a P/E ratio of -36.97.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $992.56 million. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts expect that Klarna Group will post -0.01 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was purchased at an average price of $14.37 per share, for a total transaction of $9,951,311.22. Following the purchase, the chief executive officer owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. This represents a 2.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia bought a new stake in shares of Klarna Group during the 4th quarter worth $503,243,000. BlackRock Inc. grew its position in Klarna Group by 89.6% during the second quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock valued at $115,335,000 after buying an additional 2,693,374 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Klarna Group during the fourth quarter worth about $72,323,000. Norges Bank bought a new stake in Klarna Group in the fourth quarter worth about $51,384,000. Finally, Moore Capital Management LP bought a new stake in Klarna Group in the fourth quarter worth about $28,746,000.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payments and shopping services for consumers and merchants. Its offerings include flexible payment options such as pay now, pay later and installment plans, along with digital checkout tools designed to help merchants accept and manage online and in-store transactions.

The company also operates a consumer shopping platform and mobile application that allow users to search for products, compare offerings, make purchases and manage payments.