Klarna Group (NYSE:KLAR) Shares Down 9.1% – What’s Next?
by Michael Walen · The Markets DailyKlarna Group plc (NYSE:KLAR – Get Free Report)’s stock price fell 9.1% on Thursday . The stock traded as low as $14.81 and last traded at $14.9410. 2,651,550 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 5,823,699 shares. The stock had previously closed at $16.43.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Klarna Group from $45.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Wall Street Zen upgraded Klarna Group from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Klarna Group in a report on Monday, December 29th. UBS Group reduced their price target on shares of Klarna Group from $46.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Klarna Group from $40.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.33.
Read Our Latest Report on Klarna Group
Klarna Group Stock Down 8.6%
The stock’s 50 day moving average price is $21.86. The stock has a market cap of $10.78 billion and a price-to-earnings ratio of -19.57.
Hedge Funds Weigh In On Klarna Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Walmart Inc. purchased a new stake in Klarna Group during the third quarter valued at $87,960,000. WCM Investment Management LLC bought a new stake in shares of Klarna Group during the 3rd quarter valued at about $16,040,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Klarna Group during the 3rd quarter valued at about $2,199,000. ARK Investment Management LLC purchased a new stake in shares of Klarna Group during the 3rd quarter valued at about $16,922,000. Finally, Dragoneer Investment Group LLC purchased a new position in shares of Klarna Group in the third quarter worth approximately $303,595,000.
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.