Klarna Group plc (NYSE:KLAR) Receives Average Rating of “Hold” from Analysts

Klarna Group plc (NYSE:KLAR) has been assigned a consensus recommendation of “Hold” from the twenty-three research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.79.

A number of brokerages have weighed in on KLAR. Keefe, Bruyette & Woods lowered their price objective on Klarna Group from $26.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, August 21st. Wolfe Research cut Klarna Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group raised their price target on shares of Klarna Group from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. TD Cowen dropped their price target on shares of Klarna Group from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, August 19th. Finally, Scotiabank assumed coverage on shares of Klarna Group in a report on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 price target on the stock.

Klarna Group Price Performance

Shares of KLAR stock opened at $12.77 on Monday. The company’s fifty day moving average price is $16.24 and its two-hundred day moving average price is $16.08. The firm has a market capitalization of $4.82 billion and a P/E ratio of -34.50. Klarna Group has a 12 month low of $12.06 and a 12 month high of $44.75.

Klarna Group (NYSE:KLAR) last announced its earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $992.56 million. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Klarna Group will post -0.01 EPS for the current year.

Insider Activity

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

Institutional Trading of Klarna Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Bank of Australia bought a new position in Klarna Group during the 4th quarter worth approximately $503,243,000. BlackRock Inc. raised its position in shares of Klarna Group by 89.6% during the 2nd 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. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Klarna Group during the fourth quarter worth $72,323,000. Renaissance Technologies LLC boosted its holdings in Klarna Group by 173.9% in the first 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. Finally, Norges Bank acquired a new position in Klarna Group in the fourth quarter worth $51,384,000.

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.