Klarna Group (NYSE:KLAR) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Klarna Group to “sell” from “hold,” while the broader analyst consensus remains “hold,” with 14 hold, seven buy, one strong-buy and one sell rating.
• Klarna shares opened at $12.77, near their 12-month low of $12.06 and well below the $27.79 consensus price target; the stock’s market capitalization was approximately $4.82 billion.
• The company exceeded quarterly expectations, reporting $0.01 in EPS versus a projected loss of $0.06 and $1.04 billion in revenue, up 26.6% year over year. CEO Sebastian Siemiatkowski also purchased nearly $10 million of company stock.

Klarna Group (NYSE:KLAR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. The Goldman Sachs Group upped their target price on Klarna Group from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Morgan Stanley reduced their price target on Klarna Group from $21.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 19th. Freedom Capital upgraded Klarna Group to a "strong-buy" rating in a report on Wednesday, June 24th. Wolfe Research downgraded shares of Klarna Group from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, August 25th. Finally, TD Cowen dropped their price objective on shares of Klarna Group from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Klarna Group currently has an average rating of "Hold" and a consensus price target of $27.79.

Klarna Group Trading Down 0.8%

NYSE:KLAR opened at $12.77 on Friday. The firm's fifty day simple moving average is $16.24 and its 200 day simple moving average is $16.07. Klarna Group has a twelve month low of $12.06 and a twelve month high of $44.75. The firm has a market capitalization of $4.82 billion and a price-to-earnings ratio of -34.50.

Klarna Group (NYSE:KLAR - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.04 billion during 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%.Klarna Group's quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts predict that Klarna Group will post -0.01 earnings per share for the current year.

Insider Activity

In other Klarna Group news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average price of $14.37 per share, for a total transaction 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. The trade was a 2.81% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Klarna Group

A number of hedge funds have recently bought and sold shares of KLAR. Caitong International Asset Management Co. Ltd raised its position in shares of Klarna Group by 19.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,053 shares of the company's stock valued at $117,000 after purchasing an additional 665 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Klarna Group during the second quarter worth approximately $35,000. Atwood & Palmer Inc. bought a new stake in shares of Klarna Group in the second quarter worth $86,000. Banque Cantonale Vaudoise increased its stake in shares of Klarna Group by 176.6% in the first quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company's stock worth $94,000 after buying an additional 4,595 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Klarna Group by 72.1% in the first quarter. Royal Bank of Canada now owns 11,007 shares of the company's stock valued at $145,000 after acquiring an additional 4,612 shares in the last quarter.

Klarna Group Company Profile

Klarna Group plc is a financial technology company that provides digital payments and shopping services for consumers and merchants. Its offerings include flexible payment options such as pay now, pay later and installment plans, along with digital checkout tools designed to help merchants accept and manage online and in-store transactions.

The company also operates a consumer shopping platform and mobile application that allow users to search for products, compare offerings, make purchases and manage payments.

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