Klarna Group (NYSE:KLAR) Stock Price Up 6.9% – Still a Buy?

Klarna Group plc (NYSE:KLAR)’s share price shot up 6.9% on Wednesday . The stock traded as high as $16.39 and last traded at $16.3560. 3,606,474 shares were traded during trading, a decline of 38% from the average session volume of 5,794,619 shares. The stock had previously closed at $15.30.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KLAR shares. Wolfe Research decreased their price target on Klarna Group from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Bank of America assumed coverage on shares of Klarna Group in a report on Thursday, March 5th. They issued a “buy” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Klarna Group from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Citigroup lowered their target price on shares of Klarna Group from $58.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Morgan Stanley reduced their price target on shares of Klarna Group from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Klarna Group Stock Up 8.6%

The firm’s 50-day simple moving average is $21.58. The stock has a market cap of $11.39 billion and a P/E ratio of -20.61.

Institutional Investors Weigh In On Klarna Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Walmart Inc. bought a new position in shares of Klarna Group during the 3rd quarter valued at about $87,960,000. WCM Investment Management LLC acquired a new stake in Klarna Group during the third quarter valued at approximately $16,040,000. Robeco Institutional Asset Management B.V. acquired a new stake in Klarna Group during the third quarter valued at approximately $2,199,000. ARK Investment Management LLC bought a new stake in Klarna Group during the third quarter worth approximately $16,922,000. Finally, Dragoneer Investment Group LLC acquired a new position in Klarna Group in the third quarter worth approximately $303,595,000.

Klarna Group Company Profile

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.