Klarna Group plc (NYSE:KLAR) Stock Rated “Hold” by Sell-Side Brokerages

Klarna Group plc (NYSE:KLAR) has earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.60.

Several analysts have commented on KLAR shares. Scotiabank assumed coverage on Klarna Group in a report on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 price target for the company. Wolfe Research lowered shares of Klarna Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. TD Cowen cut their price objective on shares of Klarna Group from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Klarna Group from $18.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Freedom Capital upgraded shares of Klarna Group to a “strong-buy” rating in a report on Wednesday, June 24th.

Insider Transactions at Klarna Group

In other Klarna Group news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the transaction, the chief executive officer directly owned 25,344,322 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in Klarna Group in the 2nd quarter valued at about $35,000. Farther Finance Advisors LLC grew its stake in shares of Klarna Group by 154.8% during the third quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock valued at $42,000 after acquiring an additional 2,067 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Klarna Group during the second quarter valued at about $86,000. Banque Cantonale Vaudoise increased its position in shares of Klarna Group by 176.6% during the first quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company’s stock worth $94,000 after acquiring an additional 4,595 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Klarna Group by 72.1% during the first quarter. Royal Bank of Canada now owns 11,007 shares of the company’s stock worth $145,000 after acquiring an additional 4,612 shares during the last quarter.

Klarna Group Trading Up 2.5%

NYSE:KLAR opened at $13.49 on Friday. Klarna Group has a 12-month low of $12.06 and a 12-month high of $40.05. The firm has a market cap of $5.09 billion and a price-to-earnings ratio of -36.47. The company’s 50-day moving average is $14.59 and its two-hundred day moving average is $15.99.

Klarna Group (NYSE:KLAR) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. On average, equities research analysts forecast that Klarna Group will post -0.01 earnings per share for the current fiscal year.

About Klarna Group

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.