WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $17.33 Average Target Price from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.33.

Several equities analysts recently weighed in on WBTN shares. Morgan Stanley decreased their target price on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note 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, The Goldman Sachs Group lowered 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.

WEBTOON Entertainment Stock Down 1.8 %

Shares of WBTN opened at $8.80 on Friday. The company has a 50 day moving average of $10.78 and a 200-day moving average of $11.50. The stock has a market capitalization of $1.13 billion and a P/E ratio of 19.13. WEBTOON Entertainment has a twelve month low of $8.32 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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. On average, sell-side analysts anticipate that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at WEBTOON Entertainment

In other news, insider Junkoo Kim acquired 11,372 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $8.73 per share, with a total value of $99,277.56. Following the completion of the transaction, the insider now directly owns 498,812 shares of the company’s stock, valued at $4,354,628.76. This trade represents a 2.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of WEBTOON Entertainment

Several large investors have recently made changes to their positions in WBTN. Wells Fargo & Company MN lifted its stake in WEBTOON Entertainment by 37.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock worth $111,000 after purchasing an additional 2,240 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of WEBTOON Entertainment by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock worth $5,635,000 after acquiring an additional 2,755 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at approximately $45,000. Deutsche Bank AG acquired a new position in WEBTOON Entertainment during the 4th quarter worth approximately $54,000. Finally, Rhumbline Advisers boosted its position in WEBTOON Entertainment by 24.4% in the fourth quarter. Rhumbline Advisers now owns 21,423 shares of the company’s stock valued at $291,000 after buying an additional 4,206 shares in the last quarter.

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.