Klarna Group (NYSE:KLAR) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Klarna Group (NYSE:KLAR) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently commented on KLAR. Wells Fargo & Company lowered their price target on shares of Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Barclays reduced their price objective on Klarna Group from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Klarna Group from $18.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Freedom Capital raised Klarna Group to a “strong-buy” rating in a research report on Wednesday, June 24th. Finally, TD Cowen reduced their price target on Klarna Group from $19.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.79.

Klarna Group Price Performance

NYSE KLAR opened at $13.82 on Friday. The company has a 50 day simple moving average of $16.85 and a 200-day simple moving average of $16.08. The firm has a market capitalization of $5.22 billion and a price-to-earnings ratio of -37.36. Klarna Group has a 52-week low of $12.06 and a 52-week high of $45.28.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $992.56 million. Klarna Group’s revenue was up 26.6% compared to the same quarter last year. On average, analysts predict that Klarna Group will post -0.01 EPS for the current year.

Insider Activity

In related news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the acquisition, the chief executive officer owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. The trade was a 2.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Klarna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new stake in shares of Klarna Group in the second quarter worth $342,000. Engineers Gate Manager LP acquired a new position in Klarna Group in the 2nd quarter valued at $2,713,000. Integrated Wealth Concepts LLC acquired a new position in Klarna Group in the 2nd quarter valued at $35,000. NewEdge Advisors LLC raised its holdings in Klarna Group by 1,269.7% in the 2nd quarter. NewEdge Advisors LLC now owns 12,683 shares of the company’s stock worth $257,000 after acquiring an additional 11,757 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Klarna Group during the 2nd quarter worth $11,848,000.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payments and shopping services for consumers and merchants. Its offerings include flexible payment options such as pay now, pay later and installment plans, along with digital checkout tools designed to help merchants accept and manage online and in-store transactions.

The company also operates a consumer shopping platform and mobile application that allow users to search for products, compare offerings, make purchases and manage payments.