Klarna Group (NYSE:KLAR) Stock Rating Lowered by Zacks Research

Klarna Group (NYSE:KLAR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Citizens Jmp started coverage on Klarna Group in a research note on Tuesday, June 30th. They issued a “market perform” rating on the stock. Wall Street Zen raised shares of Klarna Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. The Goldman Sachs Group lifted their price objective on shares of Klarna Group from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Morgan Stanley increased their target price on shares of Klarna Group from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, May 18th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Klarna Group from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Klarna Group currently has an average rating of “Moderate Buy” and a consensus price target of $32.11.

Klarna Group Price Performance

KLAR opened at $20.24 on Wednesday. The company has a market capitalization of $7.64 billion and a price-to-earnings ratio of -38.92. The business’s 50-day moving average price is $18.61 and its two-hundred day moving average price is $17.19. Klarna Group has a 1 year low of $12.06 and a 1 year high of $57.20.

Klarna Group (NYSE:KLAR) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($0.01) earnings per share 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 company’s revenue for the quarter was up 42.7% compared to the same quarter last year. Sell-side analysts anticipate that Klarna Group will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Klarna Group by 443.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,929 shares of the company’s stock worth $2,650,000 after purchasing an additional 106,818 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Klarna Group in the 2nd quarter valued at approximately $606,000. AlTi Global Inc. bought a new position in shares of Klarna Group in the second quarter valued at $551,000. Renaissance Capital LLC grew its stake in shares of Klarna Group by 532.5% in the second quarter. Renaissance Capital LLC now owns 103,656 shares of the company’s stock valued at $2,098,000 after buying an additional 87,267 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in Klarna Group during the second quarter worth $745,000.

About Klarna Group

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.