Klarna Group (NYSE:KLAR) Shares Gap Up – Here’s What Happened

Shares of Klarna Group plc (NYSE:KLAR) gapped up before the market opened on Wednesday . The stock had previously closed at $20.24, but opened at $21.99. Klarna Group shares last traded at $21.3580, with a volume of 3,063,826 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KLAR. TD Cowen initiated coverage on Klarna Group in a research report on Monday, May 11th. They issued a “hold” rating and a $16.00 target price for the company. The Goldman Sachs Group raised their price objective on Klarna Group from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Freedom Capital upgraded Klarna Group to a “strong-buy” rating in a report on Wednesday, June 24th. Citizens Jmp began coverage on Klarna Group in a research report on Tuesday. They set a “market perform” rating on the stock. Finally, Bank of America increased their target price on Klarna Group from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Klarna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.35.

Klarna Group Stock Performance

The firm has a market cap of $7.81 billion and a price-to-earnings ratio of -40.00. The business has a 50 day simple moving average of $16.35 and a 200-day simple moving average of $19.25.

Klarna Group (NYSE:KLAR) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.12. Klarna Group had a negative return on equity of 7.62% and a negative net margin of 5.21%.The firm’s revenue was up 42.7% compared to the same quarter last year. As a group, research analysts anticipate that Klarna Group plc will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Klarna Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA boosted its holdings in Klarna Group by 43.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,650 shares of the company’s stock worth $48,000 after acquiring an additional 500 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Klarna Group by 44.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,659 shares of the company’s stock valued at $48,000 after purchasing an additional 509 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Klarna Group by 19.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,053 shares of the company’s stock valued at $117,000 after purchasing an additional 665 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Klarna Group by 800.0% during the fourth quarter. Global Retirement Partners LLC now owns 900 shares of the company’s stock worth $26,000 after purchasing an additional 800 shares during the last quarter. Finally, US Bancorp DE bought a new stake in Klarna Group in the 3rd quarter worth about $30,000.

Klarna Group Company Profile

Klarna Group is a global payments provider specializing in “buy now, pay later” (BNPL) solutions for online and in-store shoppers. The company partners with merchants to offer flexible payment options, including interest-free installments and deferred payments, aiming to enhance conversion rates and customer loyalty. Klarna’s platform integrates risk assessment, fraud prevention, and a one-click checkout experience to streamline transactions for both retailers and consumers.

Through its digital wallet and mobile app, Klarna enables users to manage purchases, track spending and access exclusive shopping offers from partner merchants.