Equities research analysts at Monness Crespi & Hardt started coverage on shares of Klarna Group (NYSE:KLAR – Get Free Report) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Monness Crespi & Hardt‘s price target points to a potential upside of 55.67% from the stock’s current price.
Several other equities analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Klarna Group in a report on Thursday, August 13th. Wells Fargo & Company dropped their price objective on Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Scotiabank initiated coverage on Klarna Group in a report on Wednesday, September 2nd. They set a “sector perform” rating and a $16.00 target price on the stock. BMO Capital Markets decreased their target price on Klarna Group from $19.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday, August 19th. Finally, The Goldman Sachs Group boosted their target price on Klarna Group from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.44.
Read Our Latest Stock Analysis on Klarna Group
Klarna Group Stock Performance
Shares of NYSE KLAR opened at $12.85 on Monday. Klarna Group has a 52-week low of $12.06 and a 52-week high of $40.05. The stock has a market cap of $4.85 billion and a P/E ratio of -34.72. The firm has a 50 day moving average price of $13.78 and a 200 day moving average price of $15.99.
Klarna Group (NYSE:KLAR – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $992.56 million. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. Klarna Group’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts predict that Klarna Group will post -0.01 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the purchase, the chief executive officer owned 25,344,322 shares in the company, valued at $364,197,907.14. This represents a 2.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Institutional Investors Weigh In On Klarna Group
Large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Klarna Group during the second quarter worth $35,000. Farther Finance Advisors LLC lifted its position in Klarna Group by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock valued at $42,000 after acquiring an additional 2,067 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Klarna Group in the 2nd quarter worth $86,000. Banque Cantonale Vaudoise boosted its stake in Klarna Group by 176.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company’s stock worth $94,000 after purchasing an additional 4,595 shares during the period. Finally, Byrne Asset Management LLC bought a new position in Klarna Group during the 3rd quarter worth about $105,000.
Klarna Group Company Profile
Klarna Group is a global financial technology company that provides digital payment and consumer-finance services. Its platform enables shoppers to pay immediately, later, or over time, while giving merchants tools to process payments, manage checkout experiences, and engage customers.
The company’s products include buy now, pay later options, installment plans, direct payments, digital checkout services, and the Klarna Card. Klarna also operates a consumer shopping platform that allows users to discover products, compare offers, track purchases, and manage payments.
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