TLDR
- Klarna CEO Sebastian Siemiatkowski bought 692,506 KLAR stock on August 26 for $9.95 million at $14.37 per share.
- KLAR stock has fallen roughly 51% in 2026 following Q2 results and reduced full-year guidance.
- Q2 revenue came in at $1.04 billion, up 27% year-over-year, beating Wall Street estimates.
- Three analysts downgraded KLAR to Hold following the results, citing CFO transition and lowered GMV outlook.
- Wall Street has a Moderate Buy consensus on KLAR with an average price target of $19.64, implying 38% upside.
Klarna CEO Sebastian Siemiatkowski spent $9.95 million buying KLAR stock last week, a move that caught investor attention after a rough stretch for the buy now, pay later firm.
The purchase was made on August 26, with Siemiatkowski acquiring 692,506 stock at a weighted average price of $14.37. The transaction was completed through Flat Capital, an investment vehicle he co-founded with his wife. Flat Capital now holds more than 25 million KLAR stock, representing about 6.7% of the company.
KLAR stock is down roughly 51% in 2026. The CEO buying at these levels sends a clear message that he sees value here.
Q2 Results: Beat on Revenue, Cut on Guidance
Klarna posted Q2 revenue of $1.04 billion, up 27% year-over-year and ahead of Wall Street estimates. Earnings per share came in at $0.01, beating the expected loss of $0.06.
Despite the beat, Klarna cut its full-year 2026 revenue guidance to between $4.08 billion and $4.16 billion. The company cited $600 million in foreign exchange headwinds and weaker-than-expected volumes in Germany.
Management pointed to U.S. strength as a bright spot. Gross merchandise value in the U.S. hit $7.9 billion in Q2, up 27% year-on-year, while transaction margin dollars came in at $88 million, up 126% year-over-year. CFO Niclas Neglén said the U.S. is “continuing to really chug along on all engines.”
Klarna also flagged that its Apple Upgrade program, announced in July, is expected to be adjusted-operating-income accretive in 2026 and is viewed as a multi-year opportunity.
Analyst Downgrades Follow Results
Wall Street did not take the guidance cut lightly. Wolfe Research’s Darrin Peller downgraded KLAR from Buy to Hold, calling it a “show-me story.” He pointed to the lowered GMV outlook and said investors would need time to assess the CFO transition.
UBS analyst Timothy Chiodo and JPMorgan’s Tien Tsin Huang also downgraded KLAR to Hold. Several other analysts cut their price targets.
Adding to the management uncertainty, Klarna’s CFO and CMO are both set to leave in early 2027. That announcement alone sent KLAR stock down 22.8%.
On TipRanks, KLAR holds a Moderate Buy consensus rating based on seven Buy ratings and 10 Hold ratings. The average price target sits at $19.64, implying about 38% upside from current levels.
CFO Neglén is scheduled to present at the Goldman Sachs Communacopia and Technology Conference on September 9, where investors are hoping for operational updates and potentially a revised forecast.
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