Klarna Group (NYSE:KLAR) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Klarna Group from “sell” to “hold,” while the broader analyst consensus remains “Hold,” with a consensus price target of $22.44.
• Klarna shares opened at $13.33, near their 52-week low of $12.06 and below both the 50-day and 200-day moving averages. The company has a $5.03 billion market capitalization and a negative price-to-earnings ratio.
• Klarna exceeded quarterly expectations, reporting $1.04 billion in revenue—up 26.6% year over year—and EPS of $0.01 versus the expected loss of $0.06. CEO Sebastian Siemiatkowski also bought roughly $9.95 million of company stock.

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

Several other equities analysts have also weighed in on KLAR. Keefe, Bruyette & Woods reduced their price target on shares of Klarna Group from $26.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, August 21st. Barclays lowered their price objective on shares of Klarna Group from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 19th. Wells Fargo & Company dropped their target price on shares of Klarna Group from $26.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 19th. Zacks Research downgraded shares of Klarna Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley reduced their target price on shares of Klarna Group from $21.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Klarna Group currently has an average rating of "Hold" and a consensus price target of $22.44.

Klarna Group Stock Performance

Shares of Klarna Group stock opened at $13.33 on Friday. The firm has a 50-day moving average of $13.53 and a 200-day moving average of $16.51. Klarna Group has a 52-week low of $12.06 and a 52-week high of $38.19. The stock has a market cap of $5.03 billion and a PE ratio of -36.03.

Klarna Group (NYSE:KLAR - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $992.56 million. The company's revenue for the quarter was up 26.6% compared to the same quarter last year. Equities research analysts predict that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Klarna Group

In other news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Klarna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Klarna Group by 89.6% in 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 during the period. Renaissance Technologies LLC grew its stake in Klarna Group by 173.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,043,100 shares of the company's stock valued at $26,744,000 after buying an additional 1,297,200 shares in the last quarter. Amova Asset Management Americas Inc. grew its stake in Klarna Group by 57.8% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,198,554 shares of the company's stock valued at $15,701,000 after buying an additional 438,930 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Klarna Group by 47.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,198,554 shares of the company's stock valued at $15,689,000 after buying an additional 385,811 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Klarna Group during the 2nd quarter valued at $11,848,000.

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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