Klarna Group (NYSE:KLAR) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Klarna Group (NYSE:KLAR) from an outperform rating to a peer perform rating in a report issued on Tuesday morning, Marketbeat reports.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price objective (down from $22.00) on shares of Klarna Group in a research report on Wednesday, August 19th. UBS Group downgraded shares of Klarna Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $16.00 in a research note on Monday. BMO Capital Markets reduced their price objective on Klarna Group from $19.00 to $15.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 19th. Barclays decreased their target price on Klarna Group from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. Finally, The Goldman Sachs Group boosted their target price on Klarna Group from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.39.

Klarna Group Stock Performance

Shares of Klarna Group stock opened at $14.02 on Tuesday. The business’s 50 day moving average price is $18.52 and its 200 day moving average price is $16.34. The company has a market cap of $5.29 billion and a price-to-earnings ratio of -37.88. Klarna Group has a one year low of $12.06 and a one year high of $57.20.

Klarna Group (NYSE:KLAR) last released its quarterly earnings data on Tuesday, August 18th. The company reported $0.01 earnings per share (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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $992.56 million. The firm’s revenue was up 26.6% on a year-over-year basis. On average, analysts predict that Klarna Group will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Klarna Group

Several institutional investors have recently added to or reduced their stakes in KLAR. Commonwealth Bank of Australia acquired a new position in Klarna Group in the fourth quarter valued at approximately $503,243,000. Wellington Management Group LLP acquired a new stake in Klarna Group during the third quarter worth approximately $348,834,000. BlackRock Inc. raised its holdings in Klarna Group by 89.6% during the second quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock worth $115,335,000 after purchasing an additional 2,693,374 shares in the last quarter. Scge Management L.P. purchased a new stake in shares of Klarna Group during the 3rd quarter worth approximately $193,018,000. Finally, MIC Capital Management UK LLP acquired a new position in shares of Klarna Group in the 3rd quarter valued at $99,502,000.

About Klarna Group

Klarna Group is a global payments provider specializing in “buy now, pay later” (BNPL) solutions for online and in-store shoppers. The company partners with merchants to offer flexible payment options, including interest-free installments and deferred payments, aiming to enhance conversion rates and customer loyalty. Klarna’s platform integrates risk assessment, fraud prevention, and a one-click checkout experience to streamline transactions for both retailers and consumers.

Through its digital wallet and mobile app, Klarna enables users to manage purchases, track spending and access exclusive shopping offers from partner merchants.