TD Cowen Cuts Klarna Group (NYSE:KLAR) Price Target to $16.00

Klarna Group (NYSE:KLAR) had its price objective cut by TD Cowen from $18.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently commented on the stock. Zacks Research downgraded shares of Klarna Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Wolfe Research lowered shares of Klarna Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. Keefe, Bruyette & Woods reduced their price objective on Klarna Group from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 21st. 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 report on Thursday, July 2nd. Finally, Scotiabank assumed coverage on shares of Klarna Group in a research note on Wednesday, September 2nd. They set a “sector perform” rating and a $16.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.60.

Klarna Group Trading Up 1.7%

Shares of KLAR stock opened at $13.47 on Tuesday. Klarna Group has a 12 month low of $12.06 and a 12 month high of $44.75. The company has a 50 day simple moving average of $15.23 and a two-hundred day simple moving average of $15.97. The stock has a market cap of $5.09 billion and a P/E ratio of -36.42.

Klarna Group (NYSE:KLAR) last posted its quarterly earnings data 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 return on equity of 5.39% and a negative net margin of 3.54%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $992.56 million. Klarna Group’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts forecast that Klarna Group will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Klarna Group news, CEO Sebastian Siemiatkowski bought 692,506 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $14.37 per share, for a total transaction of $9,951,311.22. Following the acquisition, the chief executive officer directly owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. The trade was a 2.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Klarna Group

Several institutional investors have recently bought and sold shares of KLAR. Farther Finance Advisors LLC raised its stake in Klarna Group by 154.8% in the third quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock worth $42,000 after buying an additional 2,067 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Klarna Group during the 3rd quarter worth $105,000. State Street Corp grew its stake in Klarna Group by 1,428.3% in the second quarter. State Street Corp now owns 305,742 shares of the company’s stock valued at $6,188,000 after purchasing an additional 285,736 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Klarna Group during the second quarter valued at about $342,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Klarna Group in the 2nd quarter valued at about $2,713,000.

Klarna Group Company Profile

Klarna Group plc is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include buy now, pay later options, installment plans, and other flexible payment methods designed to give consumers greater choice at checkout.

The company also operates a shopping platform that helps consumers discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment acceptance, checkout solutions, customer acquisition tools, and related services intended to support online and in-store commerce.

Klarna was founded in Stockholm, Sweden, in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson.