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

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

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Klarna Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $18.00 in a research note on Wednesday, August 19th. 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 target on the stock. Scotiabank assumed coverage on Klarna Group in a report on Wednesday, September 2nd. They set a “sector perform” rating and a $16.00 price target on the stock. Morgan Stanley reduced their price objective 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. Finally, Barclays lowered their price objective on shares of Klarna Group from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.44.

Klarna Group Stock Up 0.9%

Shares of NYSE KLAR opened at $13.43 on Friday. Klarna Group has a twelve month low of $12.06 and a twelve month high of $38.19. The firm has a fifty day simple moving average of $13.51 and a 200 day simple moving average of $16.43. The company has a market capitalization of $5.07 billion and a PE ratio of -36.28.

Klarna Group (NYSE:KLAR) last released 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. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $992.56 million. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The company’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts expect that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sebastian Siemiatkowski bought 692,506 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $14.37 per share, with a total value of $9,951,311.22. Following the transaction, the chief executive officer directly 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Klarna Group

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Klarna Group by 89.6% during the second quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock valued at $115,335,000 after acquiring an additional 2,693,374 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Klarna Group by 173.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,043,100 shares of the company’s stock worth $26,744,000 after purchasing an additional 1,297,200 shares in the last quarter. Amova Asset Management Americas Inc. lifted its holdings in shares of 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 worth $15,701,000 after purchasing an additional 438,930 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position 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 purchasing an additional 385,811 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in Klarna Group in 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.