Klarna Group (NYSE:KLAR) Stock Jumps 4.6% – Still a Buy?

Klarna Group plc (NYSE:KLAR)’s stock price rose 4.6% during mid-day trading on Friday. The company traded as high as $13.21 and last traded at $13.30. 557,687 shares changed hands during trading, a decline of 90% from the average daily volume of 5,727,024 shares. The stock had previously closed at $12.71.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KLAR. Scotiabank began coverage on Klarna Group in a research report on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Klarna Group from $26.00 to $21.00 and set an “outperform” rating for the company in a report on Friday, August 21st. Loop Capital initiated coverage on shares of Klarna Group in a research report on Wednesday, September 9th. They set a “hold” rating and a $18.00 price target for the company. JPMorgan Chase & Co. lowered shares of Klarna Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $18.00 in a research report on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Klarna Group in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.44.

Klarna Group Stock Performance

The firm has a market capitalization of $5.21 billion, a P/E ratio of -37.33 and a beta of 1.62. The business has a fifty day moving average of $13.35 and a 200-day moving average of $15.77.

Klarna Group (NYSE:KLAR) last posted its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%. Klarna Group’s quarterly revenue was up 26.6% on a year-over-year basis. On average, equities research analysts forecast that Klarna Group plc will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other Klarna Group news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the stock in a transaction dated Wednesday, August 26th. The shares were bought at an average cost of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the acquisition, the chief executive officer owned 25,344,322 shares of the company’s stock, valued at approximately $364,197,907.14. This trade represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Klarna Group

Institutional investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. raised its stake in shares of Klarna Group by 39.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 3,235 shares of the company’s stock worth $40,000 after buying an additional 922 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Klarna Group by 4.6% in the third quarter. D.A. Davidson & CO. now owns 24,850 shares of the company’s stock valued at $308,000 after buying an additional 1,100 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Klarna Group in the second quarter valued at $35,000. Commonwealth Equity Services LLC boosted its stake in Klarna Group by 13.7% during the third quarter. Commonwealth Equity Services LLC now owns 14,591 shares of the company’s stock valued at $181,000 after buying an additional 1,755 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Klarna Group by 154.8% during the third quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock valued at $42,000 after buying an additional 2,067 shares in the last quarter.

Klarna Group Company Profile

Klarna Group is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include checkout payments, installment plans, and options to pay immediately or at a later date, subject to availability and terms. The company also operates a shopping app where users can discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment processing and related tools designed to support online and in-store commerce.