Wall Street Zen Downgrades Klarna Group (NYSE:KLAR) to Sell

Klarna Group (NYSE:KLAR) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Citizens Jmp initiated coverage on shares of Klarna Group in a research note on Tuesday, June 30th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Klarna Group from $18.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group boosted their price target on Klarna Group from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Barclays dropped their price objective on Klarna Group from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Finally, Freedom Capital raised Klarna Group to a “strong-buy” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.79.

Klarna Group Trading Down 3.0%

Shares of KLAR opened at $12.41 on Friday. The firm has a fifty day moving average price of $16.11 and a 200-day moving average price of $16.06. The firm has a market capitalization of $4.68 billion and a P/E ratio of -33.54. Klarna Group has a 12-month low of $12.06 and a 12-month high of $44.75.

Klarna Group (NYSE:KLAR) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $992.56 million. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. Analysts predict that Klarna Group will post -0.01 earnings per share for the current year.

Insider Activity at Klarna Group

In other Klarna Group news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the transaction, the chief executive officer owned 25,344,322 shares of the company’s stock, valued at approximately $364,197,907.14. This trade represents a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Klarna Group

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Klarna Group by 19.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,053 shares of the company’s stock worth $117,000 after purchasing an additional 665 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Klarna Group in the 2nd quarter worth approximately $35,000. Atwood & Palmer Inc. bought a new position in shares of Klarna Group during the 2nd quarter worth approximately $86,000. Banque Cantonale Vaudoise lifted its position in Klarna Group by 176.6% during the first quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company’s stock valued at $94,000 after acquiring an additional 4,595 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Klarna Group by 72.1% during the first quarter. Royal Bank of Canada now owns 11,007 shares of the company’s stock valued at $145,000 after acquiring an additional 4,612 shares during the last quarter.

Klarna Group Company Profile

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.