Klarna Group (NYSE:KLAR) Stock Rating Upgraded by Wall Street Zen

Klarna Group (NYSE:KLAR) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Morgan Stanley lowered their price objective on Klarna Group from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Wolfe Research downgraded Klarna Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. TD Cowen reduced their target price on Klarna Group from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, August 19th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price target (down from $22.00) on shares of Klarna Group in a research report on Wednesday, August 19th. Finally, Zacks Research cut shares of Klarna Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.79.

Klarna Group Stock Up 0.2%

NYSE KLAR opened at $13.82 on Friday. The firm has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $16.10. Klarna Group has a 12-month low of $12.06 and a 12-month high of $45.28. The company has a market capitalization of $5.22 billion and a P/E ratio of -37.36.

Klarna Group (NYSE:KLAR) last announced its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, topping 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 company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities analysts expect that Klarna Group will post -0.01 EPS for the current year.

Insider Activity 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 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 of the company’s stock, valued at approximately $364,197,907.14. This represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia bought a new position in shares of Klarna Group in the fourth quarter worth about $503,243,000. BlackRock Inc. grew its holdings in shares of Klarna Group by 89.6% during the 2nd 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 last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Klarna Group during the 4th quarter worth approximately $72,323,000. Renaissance Technologies LLC boosted its position in Klarna Group by 173.9% in the first 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. Finally, Norges Bank bought a new stake in shares of Klarna Group during the fourth quarter worth $51,384,000.

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.