Klarna Group (NYSE:KLAR) Cut to Neutral at UBS Group

UBS Group cut shares of Klarna Group (NYSE:KLAR) from a buy rating to a neutral rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $16.00 target price on the stock, down from their prior target price of $23.00.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of Klarna Group from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Citizens Jmp assumed coverage on Klarna Group in a research note on Tuesday, June 30th. They issued a “market perform” rating for the company. The Goldman Sachs Group raised their price target on Klarna Group from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Barclays dropped their price objective on Klarna Group from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. Finally, Freedom Capital upgraded Klarna Group to a “strong-buy” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.39.

Klarna Group Trading Down 0.1%

Shares of NYSE:KLAR opened at $14.26 on Monday. Klarna Group has a 12-month low of $12.06 and a 12-month high of $57.20. The company has a market cap of $5.38 billion and a PE ratio of -38.54. The stock has a 50 day moving average of $18.61 and a 200 day moving average of $16.39.

Klarna Group (NYSE:KLAR) last posted its quarterly earnings results on Tuesday, August 18th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $1.04 billion during 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%. Klarna Group’s revenue was up 26.6% on a year-over-year basis. Equities research analysts predict that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of Klarna Group

Several hedge funds have recently bought and sold shares of KLAR. Commonwealth Bank of Australia bought a new position in shares of Klarna Group during the 4th quarter valued at about $503,243,000. Wellington Management Group LLP bought a new stake in shares of Klarna Group in the third quarter worth about $348,834,000. BlackRock Inc. lifted its position in shares of Klarna Group by 89.6% in the second quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock worth $115,335,000 after buying an additional 2,693,374 shares in the last quarter. Scge Management L.P. bought a new position in Klarna Group during the third quarter valued at approximately $193,018,000. Finally, MIC Capital Management UK LLP bought a new position in Klarna Group during the third quarter valued at approximately $99,502,000.

Klarna Group Company Profile

Klarna Group is a global payments provider specializing in “buy now, pay later” (BNPL) solutions for online and in-store shoppers. The company partners with merchants to offer flexible payment options, including interest-free installments and deferred payments, aiming to enhance conversion rates and customer loyalty. Klarna’s platform integrates risk assessment, fraud prevention, and a one-click checkout experience to streamline transactions for both retailers and consumers.

Through its digital wallet and mobile app, Klarna enables users to manage purchases, track spending and access exclusive shopping offers from partner merchants.