WEBTOON Entertainment (NASDAQ:WBTN) Price Target Lowered to $15.00 at The Goldman Sachs Group

WEBTOON Entertainment (NASDAQ:WBTN) had its price target decreased by The Goldman Sachs Group from $25.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research firms have also recently commented on WBTN. Deutsche Bank Aktiengesellschaft decreased their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Morgan Stanley decreased their price target on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.33.

WEBTOON Entertainment Stock Down 10.5 %

Shares of WEBTOON Entertainment stock opened at $8.98 on Wednesday. WEBTOON Entertainment has a one year low of $8.97 and a one year high of $25.66. The stock’s fifty day moving average is $12.47 and its 200 day moving average is $12.05.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The company had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. On average, equities analysts expect that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WEBTOON Entertainment

Several large investors have recently made changes to their positions in WBTN. FMR LLC increased its holdings in shares of WEBTOON Entertainment by 45.0% in the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after purchasing an additional 1,905,231 shares during the last quarter. Norges Bank bought a new stake in shares of WEBTOON Entertainment in the fourth quarter worth about $11,862,000. Barclays PLC increased its holdings in shares of WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after purchasing an additional 488,779 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of WEBTOON Entertainment in the fourth quarter worth about $5,033,000. Finally, Potrero Capital Research LLC bought a new stake in shares of WEBTOON Entertainment in the third quarter worth about $4,176,000.

About WEBTOON Entertainment

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company’s platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.