WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $27.17 Consensus Target Price from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received an average rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.17.

WBTN has been the topic of several research analyst reports. The Goldman Sachs Group decreased their target price on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Morgan Stanley dropped their price objective on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Evercore ISI lowered their price target on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. assumed coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They set a “neutral” rating and a $23.00 target price for the company. Finally, HSBC initiated coverage on shares of WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price target on the stock.

WEBTOON Entertainment Stock Performance

WEBTOON Entertainment stock opened at $11.18 on Thursday. The business’s 50-day moving average price is $11.74. WEBTOON Entertainment has a 12-month low of $10.22 and a 12-month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million for the quarter, compared to analysts’ expectations of $340.72 million. During the same period in the prior year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts expect that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

Insider Activity

In other news, insider Yongsoo Kim purchased 7,800 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $100,776.00. Following the acquisition, the insider now owns 110,910 shares of the company’s stock, valued at $1,432,957.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other WEBTOON Entertainment news, insider Yongsoo Kim purchased 7,800 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the acquisition, the insider now owns 110,910 shares in the company, valued at approximately $1,432,957.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Namsun Kim bought 7,195 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the transaction, the director now owns 7,195 shares in the company, valued at $100,010.50. The disclosure for this purchase can be found here. Insiders acquired 56,526 shares of company stock worth $710,459 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WBTN. Federated Hermes Inc. acquired a new position in WEBTOON Entertainment in the second quarter worth approximately $32,145,000. Millennium Management LLC acquired a new stake in shares of WEBTOON Entertainment in the second quarter worth $18,346,000. Hood River Capital Management LLC acquired a new stake in shares of WEBTOON Entertainment in the second quarter worth $10,352,000. Ghisallo Capital Management LLC purchased a new position in shares of WEBTOON Entertainment during the second quarter valued at $2,055,000. Finally, Davidson Kempner Capital Management LP acquired a new position in WEBTOON Entertainment during the second quarter valued at $1,610,000.

WEBTOON Entertainment Company Profile

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.