Klarna Group (NYSE:KLAR) Stock Moved Up to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded Klarna Group from “sell” to “hold,” aligning with MarketBeat’s overall consensus “Hold” rating and average price target of $27.79.
• Klarna shares opened at $12.55, near their 12-month low of $12.06, with a market capitalization of $4.74 billion. The stock is down notably from its 12-month high of $44.75.
• The company beat quarterly expectations, reporting $0.01 in earnings per share versus a forecasted loss of $0.06 and $1.04 billion in revenue, up 26.6% year over year; CEO Sebastian Siemiatkowski also bought nearly $10 million of shares.

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

A number of other research analysts also recently weighed in on KLAR. Zacks Research downgraded shares of Klarna Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Scotiabank initiated coverage on shares of Klarna Group in a research note on Wednesday, September 2nd. They issued a "sector perform" rating and a $16.00 price objective for the company. Citizens Jmp assumed coverage on shares of Klarna Group in a report on Tuesday, June 30th. They set a "market perform" rating for the company. BMO Capital Markets dropped their target price on shares of Klarna Group from $19.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, August 19th. Finally, Wells Fargo & Company cut their target price on shares of Klarna Group from $26.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.79.

Klarna Group Stock Up 0.3%

KLAR opened at $12.55 on Monday. The stock has a fifty day moving average of $15.67 and a 200-day moving average of $15.98. The firm has a market capitalization of $4.74 billion and a P/E ratio of -33.91. Klarna Group has a 12-month low of $12.06 and a 12-month high of $44.75.

Klarna Group (NYSE:KLAR - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm 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%. The company's quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts expect that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sebastian Siemiatkowski acquired 692,506 shares of Klarna Group stock in a transaction on Wednesday, August 26th. The stock was bought at an average price of $14.37 per share, for a total transaction of $9,951,311.22. Following the transaction, the chief executive officer owned 25,344,322 shares of the company's stock, valued at $364,197,907.14. The trade was a 2.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Klarna Group

A number of institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in Klarna Group in the second quarter valued at approximately $35,000. Atwood & Palmer Inc. bought a new stake in Klarna Group in the second quarter valued at about $86,000. Banque Cantonale Vaudoise lifted its stake in Klarna Group by 176.6% in the first quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company's stock valued at $94,000 after buying an additional 4,595 shares during the period. 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 acquiring an additional 665 shares during the period. Finally, Royal Bank of Canada grew its holdings in Klarna Group by 72.1% during the first quarter. Royal Bank of Canada now owns 11,007 shares of the company's stock valued at $145,000 after purchasing an additional 4,612 shares during the period.

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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