Klarna Group plc (NYSE:KLAR) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts rate Klarna Group “Hold” on average: Of 23 analysts, 14 recommend holding, seven recommend buying, one strongly recommends buying and one recommends selling. The average 12-month price target is $27.79.
• Klarna reported quarterly revenue of $1.04 billion, up 26.6% year over year, and earnings of $0.01 per share, exceeding expectations for a $0.06 loss. Analysts expect a slight full-year loss of $0.01 per share.
• CEO Sebastian Siemiatkowski purchased 692,506 shares for approximately $9.95 million, increasing his ownership by 2.81%. The stock opened at $13.82, compared with a 52-week range of $12.06 to $45.28.

Klarna Group plc (NYSE:KLAR - Get Free Report) has earned an average rating of "Hold" from the twenty-three analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $27.7895.

A number of equities research analysts have recently weighed in on KLAR shares. Wall Street Zen upgraded Klarna Group from a "sell" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group increased their price objective on shares of Klarna Group from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Barclays dropped their target price 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 cut their price target 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. Finally, BMO Capital Markets lowered their price objective 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.

Klarna Group Stock Up 0.2%

NYSE KLAR opened at $13.82 on Monday. Klarna Group has a 52 week low of $12.06 and a 52 week high of $45.28. The company has a 50 day moving average price of $16.85 and a 200 day moving average price of $16.10. The firm has a market cap of $5.22 billion and a PE ratio of -37.36.

Klarna Group (NYSE:KLAR - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, topping 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 analysts' expectations of $992.56 million. The company's revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts anticipate that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Klarna Group

In other news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Klarna Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Leonteq Securities AG purchased a new position in Klarna Group during the 4th quarter worth approximately $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of Klarna Group during the second quarter worth $35,000. Banque Cantonale Vaudoise acquired a new position in Klarna Group during the fourth quarter valued at $75,000. Atwood & Palmer Inc. purchased a new stake in Klarna Group in the second quarter valued at $86,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings 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 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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