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

Wall Street Zen upgraded shares of Klarna Group (NYSE:KLAR – Free Report) from a sell rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Wolfe Research downgraded Klarna Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. TD Cowen dropped their price objective on shares of Klarna Group from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. Monness Crespi & Hardt began coverage on shares of Klarna Group in a report on Monday, October 26th. They set a “buy” rating and a $20.00 target price for the company. BMO Capital Markets decreased their target price on shares of 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, Scotiabank initiated coverage on shares of Klarna Group in a report on Wednesday, September 2nd. They set a “sector perform” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.44.

Check Out Our Latest Analysis on Klarna Group

Klarna Group Trading Down 1.2%

NYSE KLAR opened at $13.22 on Friday. The stock has a 50-day simple moving average of $13.49 and a two-hundred day simple moving average of $16.34. Klarna Group has a fifty-two week low of $12.06 and a fifty-two week high of $38.19.

Klarna Group (NYSE:KLAR – Get Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%. The company’s revenue was up 26.6% compared to the same quarter last year. On average, research analysts anticipate that Klarna Group will post -0.01 earnings per share for the current year.

Insider Transactions at Klarna Group

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. lifted 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 valued at $115,335,000 after purchasing an additional 2,693,374 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 1,297,200 shares during the period. Amova Asset Management Americas Inc. increased its stake in shares of Klarna Group by 57.8% during the first quarter. Amova Asset Management Americas Inc. now owns 1,198,554 shares of the company’s stock worth $15,701,000 after purchasing an additional 438,930 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Klarna Group by 47.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,198,554 shares of the company’s stock worth $15,689,000 after purchasing an additional 385,811 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Klarna Group during the 2nd quarter worth about $11,848,000.

About Klarna Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Klarna Group (NYSE:KLAR)

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