Zacks Research Downgrades Klarna Group (NYSE:KLAR) to Hold

Klarna Group (NYSE:KLAR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Bank of America raised their price objective on shares of Klarna Group from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Freedom Capital upgraded shares of Klarna Group to a “strong-buy” rating in a research report on Wednesday, June 24th. Wells Fargo & Company dropped their target price on shares of Klarna Group from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, May 15th. JPMorgan Chase & Co. boosted their price target on Klarna Group from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price target on Klarna Group from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.11.

Klarna Group Price Performance

Shares of KLAR stock opened at $20.24 on Wednesday. The business’s fifty day moving average price is $18.61 and its 200 day moving average price is $17.19. The firm has a market capitalization of $7.64 billion and a PE ratio of -38.92. Klarna Group has a 1-year low of $12.06 and a 1-year high of $57.20.

Klarna Group (NYSE:KLAR) last released its earnings results on Wednesday, May 20th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.12. Klarna Group had a negative return on equity of 7.62% and a negative net margin of 5.21%.Klarna Group’s revenue for the quarter was up 42.7% compared to the same quarter last year. Equities research analysts expect that Klarna Group will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Klarna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Klarna Group by 53.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 812,743 shares of the company’s stock valued at $23,496,000 after purchasing an additional 283,261 shares in the last quarter. Renaissance Technologies LLC increased its stake 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 in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Klarna Group during the 1st quarter worth approximately $1,964,000. Robeco Institutional Asset Management B.V. raised its position in shares of Klarna Group by 150.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 150,000 shares of the company’s stock worth $4,336,000 after purchasing an additional 90,000 shares during the last quarter. Finally, UBS Group AG lifted its stake in Klarna Group by 32.9% in the 4th quarter. UBS Group AG now owns 1,376,248 shares of the company’s stock valued at $39,787,000 after buying an additional 340,562 shares in the last quarter.

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.