Klarna Group (NYSE:KLAR) Stock Price Down 8.4% – Here’s Why

Klarna Group plc (NYSE:KLAR) dropped 8.4% during trading on Wednesday . The stock traded as low as $13.63 and last traded at $13.5640. Approximately 7,408,876 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 5,991,667 shares. The stock had previously closed at $14.80.

Analysts Set New Price Targets

Several brokerages have issued reports on KLAR. Keefe, Bruyette & Woods lowered their target price on shares of Klarna Group from $45.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Wells Fargo & Company dropped their price objective on shares of Klarna Group from $45.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. UBS Group decreased their target price on shares of Klarna Group from $46.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Morgan Stanley dropped their price target on Klarna Group from $39.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Finally, Bank of America initiated coverage on Klarna Group in a report on Thursday, March 5th. They issued a “buy” rating and a $21.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.33.

Klarna Group Stock Down 9.5%

The stock’s fifty day moving average price is $20.74. The stock has a market cap of $9.61 billion and a P/E ratio of -17.39.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KLAR. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Klarna Group in the fourth quarter valued at $72,323,000. Delta Global Management LP purchased a new position in shares of Klarna Group during the 4th quarter worth $2,308,000. XTX Topco Ltd increased its position in shares of Klarna Group by 132.8% during the 4th quarter. XTX Topco Ltd now owns 87,353 shares of the company’s stock worth $2,525,000 after purchasing an additional 49,837 shares during the last quarter. Prana Capital Management LP acquired a new stake in shares of Klarna Group during the 4th quarter worth about $629,000. Finally, Quadrature Capital Ltd purchased a new stake in Klarna Group in the 4th quarter valued at about $1,120,000.

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.