Wall Street Zen upgraded shares of Klarna Group (NYSE:KLAR – Free Report) from a sell rating to a hold rating in a report released on Monday morning,Wall Street Zen reports.
Several other equities analysts have also recently weighed in on KLAR. Scotiabank started coverage on Klarna Group in a research note on Wednesday, September 2nd. They set a “sector perform” rating and a $16.00 price objective on the stock. Loop Capital initiated coverage on shares of Klarna Group in a research note on Wednesday, September 9th. They issued a “hold” rating and a $18.00 target price for the company. Wolfe Research downgraded shares of Klarna Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. Wells Fargo & Company dropped their price target on shares of Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Finally, TD Cowen cut their price target on shares of Klarna Group from $19.00 to $18.00 and set a “hold” rating on the stock in a 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.73.
Read Our Latest Stock Analysis on Klarna Group
Klarna Group Stock Up 4.8%
Klarna Group (NYSE:KLAR – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. The business’s revenue was up 26.6% on a year-over-year basis. As a group, research analysts anticipate that Klarna Group will post -0.01 EPS for the current year.
Insiders Place Their Bets
In other Klarna Group news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the transaction, the chief executive officer owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. This trade represents a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Institutional Investors Weigh In On Klarna Group
Hedge funds have recently made changes to their positions in the business. Commonwealth Bank of Australia purchased a new position in shares of Klarna Group in the 4th quarter worth about $503,243,000. BlackRock Inc. increased its holdings in Klarna Group by 89.6% during the second quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock worth $115,335,000 after buying an additional 2,693,374 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Klarna Group in the fourth quarter worth about $72,323,000. Renaissance Technologies LLC boosted its stake in Klarna Group by 173.9% in the first quarter. Renaissance Technologies LLC now owns 2,043,100 shares of the company’s stock valued at $26,744,000 after acquiring an additional 1,297,200 shares during the last quarter. Finally, Norges Bank purchased a new position in Klarna Group in the fourth quarter valued at about $51,384,000.
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.
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