Brokerages Set WEBTOON Entertainment Inc. (NASDAQ:WBTN) PT at $17.33

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.33.

A number of equities research analysts have recently commented on WBTN shares. The Goldman Sachs Group dropped their price target on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th.

Insider Transactions at WEBTOON Entertainment

In other WEBTOON Entertainment news, insider Junkoo Kim purchased 11,372 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average cost of $8.73 per share, with a total value of $99,277.56. Following the transaction, the insider now directly owns 498,812 shares of the company’s stock, valued at $4,354,628.76. This represents a 2.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Trading of WEBTOON Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of WBTN. BNP Paribas Financial Markets acquired a new position in shares of WEBTOON Entertainment during the 3rd quarter worth approximately $45,000. Deutsche Bank AG acquired a new position in WEBTOON Entertainment during the fourth quarter worth $54,000. New York State Common Retirement Fund acquired a new position in WEBTOON Entertainment during the fourth quarter worth $60,000. JPMorgan Chase & Co. bought a new stake in WEBTOON Entertainment during the third quarter worth $75,000. Finally, MetLife Investment Management LLC acquired a new stake in WEBTOON Entertainment in the third quarter valued at $107,000.

WEBTOON Entertainment Stock Performance

Shares of NASDAQ WBTN opened at $8.04 on Friday. WEBTOON Entertainment has a 52-week low of $8.03 and a 52-week high of $25.66. The stock has a market cap of $1.04 billion and a P/E ratio of 17.48. The firm has a 50 day moving average price of $10.50 and a 200 day moving average price of $11.44.

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

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.