JPMorgan Chase & Co. Issues Pessimistic Forecast for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $10.00 to $9.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 13.64% from the stock’s current price.

A number of other analysts have also commented on the company. Morgan Stanley dropped 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, February 26th. The Goldman Sachs Group lowered their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, WEBTOON Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

WEBTOON Entertainment Stock Performance

Shares of NASDAQ WBTN opened at $7.92 on Tuesday. The stock has a market cap of $1.02 billion and a price-to-earnings ratio of 17.22. WEBTOON Entertainment has a fifty-two week low of $6.75 and a fifty-two week high of $25.66. The firm’s 50-day simple moving average is $9.41 and its 200 day simple moving average is $11.21.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its 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 company had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. On average, sell-side analysts predict that WEBTOON Entertainment will post -0.26 EPS for the current year.

Insider Buying and Selling at WEBTOON Entertainment

In other WEBTOON Entertainment news, insider Junkoo Kim purchased 11,372 shares of the stock in a transaction dated Wednesday, March 19th. The shares were bought 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 in the company, valued at approximately $4,354,628.76. This trade represents a 2.33 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its position in shares of WEBTOON Entertainment by 30.9% during the fourth quarter. FMR LLC now owns 8,034,524 shares of the company’s stock worth $109,109,000 after acquiring an additional 1,897,659 shares in the last quarter. Norges Bank bought a new position in WEBTOON Entertainment in the 4th quarter worth about $11,862,000. Barclays PLC grew its holdings in WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after buying an additional 488,779 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at about $5,033,000. Finally, Geode Capital Management LLC lifted its holdings in shares of WEBTOON Entertainment by 290.1% in the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after buying an additional 306,496 shares in the last quarter.

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.