Klarna Group (NYSE:KLAR) Earns Hold Rating from Analysts at Loop Capital

Loop Capital started coverage on shares of Klarna Group (NYSE:KLAR) in a report issued on Wednesday, MarketBeat reports. The brokerage issued a hold rating and a $18.00 price target on the stock.

KLAR has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price (down from $22.00) on shares of Klarna Group in a research report on Wednesday, August 19th. Morgan Stanley dropped their target price on shares of Klarna Group from $21.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. Bank of America raised their price target on shares of Klarna Group from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Klarna Group in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Klarna Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.05.

Klarna Group Price Performance

Shares of NYSE:KLAR opened at $13.80 on Wednesday. Klarna Group has a 1 year low of $12.06 and a 1 year high of $47.48. The stock has a market capitalization of $5.21 billion and a price-to-earnings ratio of -37.29. The company’s 50 day simple moving average is $17.40 and its 200 day simple moving average is $16.07.

Klarna Group (NYSE:KLAR) last released its earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $992.56 million. Klarna Group’s revenue was up 26.6% compared to the same quarter last year. As a group, analysts anticipate that Klarna Group will post -0.01 EPS for the current fiscal year.

Insider Activity

In other Klarna Group news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Klarna Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia bought a new position in shares of Klarna Group during the fourth quarter valued at $503,243,000. Wellington Management Group LLP acquired a new stake in Klarna Group in the third quarter valued at $348,834,000. BlackRock Inc. raised its position in Klarna Group by 89.6% during the 2nd quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock worth $115,335,000 after purchasing an additional 2,693,374 shares during the last quarter. Scge Management L.P. bought a new position in Klarna Group during the 3rd quarter worth $193,018,000. Finally, MIC Capital Management UK LLP acquired a new position in Klarna Group during the 3rd quarter worth about $99,502,000.

Klarna Group Company Profile

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.