Klarna Group (NYSE:KLAR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Klarna Group (NYSE:KLAR) from a sell rating to a hold rating in a research report sent to investors on Monday morning,Wall Street Zen reports.

Several other equities analysts have also weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Klarna Group in a research note on Thursday, August 13th. Citizens Jmp started coverage on Klarna Group in a research report on Tuesday, June 30th. They set a “market perform” rating on the stock. Freedom Capital raised Klarna Group to a “strong-buy” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price objective (down from $22.00) on shares of Klarna Group in a research report on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Klarna Group from $18.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.60.

Klarna Group Stock Performance

KLAR stock opened at $13.26 on Monday. The firm has a market cap of $5.00 billion and a PE ratio of -35.82. The firm’s fifty day moving average is $15.34 and its 200 day moving average is $15.96. Klarna Group has a one year low of $12.06 and a one year high of $44.75.

Klarna Group (NYSE:KLAR) last released its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $992.56 million. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The company’s revenue was up 26.6% compared to the same quarter last year. Research analysts predict that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Klarna Group

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

Hedge Funds Weigh In On Klarna Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Capital LLC boosted 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 worth $2,098,000 after acquiring an additional 87,267 shares during the last quarter. State Street Corp raised its stake in Klarna Group by 1,428.3% in the 2nd 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. Renaissance Technologies LLC lifted its holdings in Klarna Group by 173.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,043,100 shares of the company’s stock valued at $26,744,000 after purchasing an additional 1,297,200 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Klarna Group during the 1st quarter worth $1,964,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Klarna Group by 47.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,198,554 shares of the company’s stock worth $15,689,000 after purchasing an additional 385,811 shares during the last quarter.

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.