---
title: "Moshe Orenbuch Maintains Hold on Solid but Non-Repeatable Q1 Beat, Lifts Price Target to $17 Amid Cautious 2026 Outlook"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286459904.md"
description: "Moshe Orenbuch from TD Cowen has maintained a Hold rating on Klarna Group Plc, raising the price target to $17. The decision follows a solid Q1 performance that exceeded revenue expectations but resulted in a small loss per share. While transaction margins improved, the growth was driven by high loan repayments rather than sustainable factors. The 2026 outlook remains unchanged, and second-quarter guidance is below previous expectations, leading Orenbuch to adopt a cautious stance until clearer signs of consistent growth emerge."
datetime: "2026-05-14T20:05:27.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286459904.md)
  - [en](https://longbridge.com/en/news/286459904.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286459904.md)
---

# Moshe Orenbuch Maintains Hold on Solid but Non-Repeatable Q1 Beat, Lifts Price Target to $17 Amid Cautious 2026 Outlook

In a report released today, Moshe Orenbuch from TD Cowen maintained a Hold rating on Klarna Group Plc, with a price target of $17.00.

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Moshe Orenbuch has given his Hold rating due to a combination of factors, including a solid first-quarter performance that exceeded expectations on revenue and provisions, yet still produced a small loss per share. While transaction margins were stronger and credit trends remained broadly steady, a portion of the upside came from unusually high loan repayments rather than from underlying, repeatable growth drivers.

Management kept its 2026 outlook unchanged and issued second-quarter guidance that falls short of his prior assumptions for GMV, revenue and adjusted operating profit, tempering the significance of the recent beat. Orenbuch raised his price target to $17, based on a multiple of projected 2027 earnings, but maintains a neutral stance as he awaits clearer evidence of sustained transaction-margin expansion supported by increased loan sales and more normalized prepayment patterns.

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