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

Key Points

• Wall Street Zen upgraded Klarna Group from “sell” to “hold.” The broader analyst consensus is also “hold,” with an average price target of $27.79.
• Klarna shares opened at $13.82, well below their 52-week high of $45.28, giving the company a market capitalization of approximately $5.22 billion.
• The company exceeded quarterly expectations, reporting $0.01 in earnings per share and $1.04 billion in revenue, up 26.6% year over year. CEO Sebastian Siemiatkowski also purchased 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 report released on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on KLAR. Deutsche Bank Aktiengesellschaft lifted their price objective on Klarna Group from $18.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Freedom Capital raised Klarna Group to a "strong-buy" rating in a research note on Wednesday, June 24th. Loop Capital assumed coverage on Klarna Group in a research note on Wednesday, September 9th. They issued a "hold" rating and a $18.00 price objective for the company. UBS Group lowered Klarna Group from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $16.00 in a report on Monday, August 24th. Finally, Wolfe Research lowered shares of Klarna Group from an "outperform" rating to a "peer perform" rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $27.79.

Klarna Group Price Performance

Shares of NYSE:KLAR opened at $13.82 on Friday. The business's 50 day moving average price is $16.85 and its 200-day moving average price is $16.08. Klarna Group has a 1 year low of $12.06 and a 1 year high of $45.28. The firm has a market capitalization of $5.22 billion and a price-to-earnings ratio of -37.36.

Klarna Group (NYSE:KLAR - Get Free Report) last announced its 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. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $992.56 million. The business's revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts expect that Klarna Group will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Klarna Group

In other Klarna Group news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average cost of $14.37 per share, for a total transaction 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. This trade represents a 2.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new stake in shares of Klarna Group in the 4th quarter valued at approximately $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of Klarna Group during the 2nd quarter worth approximately $35,000. Banque Cantonale Vaudoise acquired a new stake in Klarna Group in the 4th quarter valued at approximately $75,000. Caitong International Asset Management Co. Ltd raised its position in Klarna Group by 19.6% in the fourth 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 during the period. Finally, Atwood & Palmer Inc. acquired a new position in Klarna Group during the second quarter worth $86,000.

About Klarna Group

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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