Klarna Group (NYSE:KLAR) Given New $16.00 Price Target at TD Cowen

Klarna Group (NYSE:KLAR) had its target price cut by TD Cowen from $18.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also weighed in on KLAR. Freedom Capital raised Klarna Group to a “strong-buy” rating in a research note on Wednesday, June 24th. The Goldman Sachs Group lifted their price objective on Klarna Group from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. BMO Capital Markets dropped their target price on 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. Loop Capital started coverage on Klarna Group in a research report on Wednesday, September 9th. They set a “hold” rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price target (down from $22.00) on shares of Klarna Group in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Klarna Group presently has a consensus rating of “Hold” and a consensus target price of $22.60.

Klarna Group Price Performance

Klarna Group stock opened at $13.25 on Tuesday. Klarna Group has a 12-month low of $12.06 and a 12-month high of $44.75. The stock has a market capitalization of $5.00 billion and a P/E ratio of -35.80. The firm’s 50-day moving average is $15.45 and its two-hundred day moving average is $15.96.

Klarna Group (NYSE:KLAR) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $1.04 billion during 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 business’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, analysts forecast that Klarna Group will post -0.01 EPS for the current year.

Insider Buying and Selling at Klarna Group

In related news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $14.37 per share, with a total value of $9,951,311.22. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia acquired a new stake in Klarna Group during the fourth quarter worth about $503,243,000. BlackRock Inc. raised its holdings in shares of Klarna Group by 89.6% in the 2nd 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 during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Klarna Group in the 4th quarter valued at about $72,323,000. Pictet Asset Management Holding SA purchased a new stake in shares of Klarna Group during the 1st quarter worth about $18,872,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Klarna Group by 173.9% during 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 during the period.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include buy now, pay later options, installment plans, and other flexible payment methods designed to give consumers greater choice at checkout.

The company also operates a shopping platform that helps consumers discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment acceptance, checkout solutions, customer acquisition tools, and related services intended to support online and in-store commerce.

Klarna was founded in Stockholm, Sweden, in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson.