WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $17.33 Consensus Price Target from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.33.

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

WEBTOON Entertainment Trading Down 1.7 %

WEBTOON Entertainment stock opened at $8.49 on Friday. The firm has a market capitalization of $1.09 billion and a price-to-earnings ratio of 18.46. The firm’s fifty day moving average price is $10.60 and its two-hundred day moving average price is $11.45. WEBTOON Entertainment has a 1-year low of $8.32 and a 1-year high of $25.66.

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

Insider Buying and Selling

In related news, insider Junkoo Kim purchased 11,372 shares of the stock in a transaction that occurred on 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 acquisition, the insider now 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of WEBTOON Entertainment

Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of WEBTOON Entertainment by 37.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock worth $111,000 after acquiring an additional 2,240 shares during the period. Geode Capital Management LLC lifted its holdings in WEBTOON Entertainment by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock valued at $5,635,000 after purchasing an additional 2,755 shares during the last quarter. BNP Paribas Financial Markets bought a new position in WEBTOON Entertainment during the third quarter worth about $45,000. Deutsche Bank AG purchased a new position in shares of WEBTOON Entertainment in the fourth quarter worth about $54,000. Finally, Rhumbline Advisers raised its position in shares of 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 purchasing an additional 4,206 shares during the period.

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.