Klarna Group plc (NYSE:KLAR) Stock Has Average Target Price of $22.44 According to Brokerages

Shares of Klarna Group plc (NYSE:KLAR) have received a consensus recommendation of “Hold” from the twenty analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.44.

KLAR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of Klarna Group from $26.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, August 21st. TD Cowen lowered their target price on Klarna Group from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. BMO Capital Markets dropped their target price on Klarna Group from $19.00 to $15.00 and set a “market perform” rating on the stock in a report on Wednesday, August 19th. Morgan Stanley reduced their price target on Klarna Group from $21.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. Finally, Wolfe Research downgraded Klarna Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th.

Insider Activity

In related news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the acquisition, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Klarna Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP grew its position in shares of Klarna Group by 60.4% in the 3rd quarter. Marshall Wace LLP now owns 7,965,893 shares of the company’s stock valued at $98,697,000 after acquiring an additional 3,000,822 shares during the period. BlackRock Inc. raised its holdings in shares of Klarna Group by 89.6% in the 2nd quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock valued at $115,335,000 after purchasing an additional 2,693,374 shares during the period. Renaissance Technologies LLC lifted its stake 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Klarna Group by 47.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,198,554 shares of the company’s stock valued at $15,689,000 after purchasing an additional 385,811 shares during the last quarter. Finally, Amova Asset Management Americas Inc. lifted its stake in Klarna Group by 57.8% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,198,554 shares of the company’s stock valued at $15,701,000 after purchasing an additional 438,930 shares during the last quarter.

Klarna Group Trading Up 8.7%

Shares of NYSE KLAR traded up $1.10 during midday trading on Tuesday, reaching $13.81. The company’s stock had a trading volume of 12,507,806 shares, compared to its average volume of 5,201,346. Klarna Group has a fifty-two week low of $12.06 and a fifty-two week high of $35.35. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of -37.33 and a beta of 1.62. The stock has a 50 day simple moving average of $13.35 and a 200-day simple moving average of $15.77.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.54% and a negative return on equity of 5.39%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities analysts anticipate that Klarna Group will post -0.01 EPS for the current year.

Klarna Group Company Profile

Klarna Group is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include checkout payments, installment plans, and options to pay immediately or at a later date, subject to availability and terms. The company also operates a shopping app where users can discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment processing and related tools designed to support online and in-store commerce.