Klarna Group plc (NYSE:KLAR) Receives $27.79 Consensus PT from Analysts

Klarna Group plc (NYSE:KLAR) has been given an average recommendation of “Hold” by the twenty-three brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.7895.

Several equities research analysts have recently commented on KLAR shares. Wells Fargo & Company cut their price objective on Klarna Group from $26.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. BMO Capital Markets cut their price target on shares of Klarna Group from $19.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday, August 19th. Morgan Stanley decreased their price objective on shares of 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. Loop Capital assumed coverage on shares of Klarna Group in a research note on Wednesday, September 9th. They issued a “hold” rating and a $18.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Klarna Group in a report on Thursday, August 13th.

Insider Activity at Klarna Group

In other Klarna Group news, CEO Sebastian Siemiatkowski bought 692,506 shares of Klarna Group stock in a transaction dated 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 of the company’s stock, valued at $364,197,907.14. The trade was a 2.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Klarna Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLAR. Commonwealth Bank of Australia bought a new position in shares of Klarna Group in the fourth quarter valued at about $503,243,000. BlackRock Inc. grew its stake in 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 buying an additional 2,693,374 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Klarna Group in the 4th quarter valued at about $72,323,000. Norges Bank bought a new position in Klarna Group in the 4th quarter valued at about $51,384,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Klarna Group during the first quarter worth approximately $18,872,000.

Klarna Group Stock Performance

NYSE:KLAR opened at $12.94 on Monday. The stock’s 50-day simple moving average is $16.48 and its 200 day simple moving average is $16.10. The company has a market cap of $4.88 billion and a P/E ratio of -34.97. Klarna Group has a 52-week low of $12.06 and a 52-week high of $44.75.

Klarna Group (NYSE:KLAR) last issued 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%.The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts predict that Klarna Group will post -0.01 earnings per share for the current fiscal year.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payments and shopping services for consumers and merchants. Its offerings include flexible payment options such as pay now, pay later and installment plans, along with digital checkout tools designed to help merchants accept and manage online and in-store transactions.

The company also operates a consumer shopping platform and mobile application that allow users to search for products, compare offerings, make purchases and manage payments.