Klarna Group (NYSE:KLAR) Stock Rated “Buy” in New Coverage at Monness Crespi & Hardt

Monness Crespi & Hardt initiated coverage on shares of Klarna Group (NYSE:KLAR) in a report released on Monday, Marketbeat reports. The firm issued a buy rating and a $20.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Loop Capital initiated coverage on Klarna Group in a research note on Wednesday, September 9th. They set a “hold” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. downgraded Klarna Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $18.00 in a research note on Wednesday, August 19th. Wells Fargo & Company reduced their price target on Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Klarna Group from $18.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, UBS Group cut shares of Klarna Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $16.00 in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Klarna Group has a consensus rating of “Hold” and an average target price of $22.44.

Klarna Group Price Performance

Shares of Klarna Group stock opened at $13.16 on Monday. The stock has a market cap of $4.97 billion and a P/E ratio of -35.57. The stock’s 50 day simple moving average is $13.56 and its 200-day simple moving average is $16.68. Klarna Group has a 1-year low of $12.06 and a 1-year high of $38.81.

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

Insider Activity

In other news, CEO Sebastian Siemiatkowski purchased 692,506 shares of Klarna Group stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the transaction, the chief executive officer owned 25,344,322 shares in the company, valued at $364,197,907.14. This represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. lifted its stake in shares of Klarna Group by 4.6% in the 3rd quarter. D.A. Davidson & CO. now owns 24,850 shares of the company’s stock valued at $308,000 after purchasing an additional 1,100 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Klarna Group by 39.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 3,235 shares of the company’s stock worth $40,000 after purchasing an additional 922 shares during the period. Wedbush Securities Inc. grew its holdings in shares of 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 purchasing an additional 3,000 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Klarna Group by 154.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock worth $42,000 after purchasing an additional 2,067 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in shares of Klarna Group during the 3rd quarter worth about $105,000.

About Klarna Group

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.