Klarna Group plc (NYSE:KLAR) Stock Has Average Price Target of $22.60 According to Analysts

Shares of Klarna Group plc (NYSE:KLAR) have been assigned a consensus rating of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.60.

KLAR has been the topic of several research analyst reports. Citizens Jmp initiated coverage on shares of Klarna Group in a report on Tuesday, June 30th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Klarna Group from $18.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wolfe Research cut shares of Klarna Group from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Keefe, Bruyette & Woods reduced their price target on shares of Klarna Group from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 21st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Klarna Group in a research note on Thursday, August 13th.

Klarna Group Stock Performance

NYSE:KLAR opened at $13.22 on Friday. Klarna Group has a 52 week low of $12.06 and a 52 week high of $40.05. The stock’s fifty day moving average is $13.94 and its two-hundred day moving average is $15.99.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. The business 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 revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities research analysts anticipate that Klarna Group will post -0.01 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Klarna Group in the second quarter valued at $35,000. Farther Finance Advisors LLC raised its holdings in shares of Klarna Group by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock valued at $42,000 after buying an additional 2,067 shares during the period. Wedbush Securities Inc. lifted its stake in Klarna Group by 23.5% during the 3rd quarter. Wedbush Securities Inc. now owns 15,770 shares of the company’s stock worth $195,000 after acquiring an additional 3,000 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Klarna Group during the 2nd quarter worth about $86,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Klarna Group by 176.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company’s stock valued at $94,000 after acquiring an additional 4,595 shares during the period.

Klarna Group Company Profile

Klarna Group is a global financial technology company that provides digital payment and consumer-finance services. Its platform enables shoppers to pay immediately, later, or over time, while giving merchants tools to process payments, manage checkout experiences, and engage customers.

The company’s products include buy now, pay later options, installment plans, direct payments, digital checkout services, and the Klarna Card. Klarna also operates a consumer shopping platform that allows users to discover products, compare offers, track purchases, and manage payments.