Klarna Group (NYSE:KLAR) Raised to Hold at Wall Street Zen

Klarna Group (NYSE:KLAR) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Monday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of Klarna Group from $21.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Klarna Group from $18.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods cut their price objective on shares of Klarna Group from $26.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, August 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price objective (down from $22.00) on shares of Klarna Group in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company lowered their target price on Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.60.

Klarna Group Stock Performance

Klarna Group stock opened at $13.25 on Monday. Klarna Group has a one year low of $12.06 and a one year high of $44.75. The stock has a fifty day moving average of $15.45 and a 200 day moving average of $15.96. The stock has a market cap of $5.00 billion and a PE ratio of -35.80.

Klarna Group (NYSE:KLAR) last announced its earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.07. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. Klarna Group’s revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts predict that Klarna Group will post -0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $14.37 per share, for a total transaction of $9,951,311.22. Following the completion of the transaction, the chief executive officer directly owned 25,344,322 shares in the company, valued at $364,197,907.14. This trade represents a 2.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of Klarna Group

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Bank of Australia bought a new position in shares of Klarna Group in the fourth quarter worth about $503,243,000. BlackRock Inc. raised its stake in Klarna Group by 89.6% during the 2nd quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock valued at $115,335,000 after purchasing an additional 2,693,374 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Klarna Group during the 4th quarter valued at approximately $72,323,000. Norges Bank purchased a new position in Klarna Group in the 4th quarter worth approximately $51,384,000. Finally, Pictet Asset Management Holding SA bought a new position in Klarna Group in the 1st quarter worth approximately $18,872,000.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include buy now, pay later options, installment plans, and other flexible payment methods designed to give consumers greater choice at checkout.

The company also operates a shopping platform that helps consumers discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment acceptance, checkout solutions, customer acquisition tools, and related services intended to support online and in-store commerce.

Klarna was founded in Stockholm, Sweden, in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson.