WEBTOON Entertainment (NASDAQ:WBTN) Given New $16.00 Price Target at Deutsche Bank Aktiengesellschaft

WEBTOON Entertainment (NASDAQ:WBTN) had its price target reduced by Deutsche Bank Aktiengesellschaft from $18.00 to $16.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on WBTN. The Goldman Sachs Group reduced their target price on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Evercore ISI cut their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 12th. HSBC assumed coverage on shares of WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of WEBTOON Entertainment in a research note on Monday, July 22nd. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Morgan Stanley lowered their price objective on shares of WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.83.

WEBTOON Entertainment Trading Up 2.4 %

Shares of WEBTOON Entertainment stock opened at $11.73 on Tuesday. The stock has a 50-day moving average price of $11.29. WEBTOON Entertainment has a 12-month low of $10.22 and a 12-month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.72) by $0.92. The firm had revenue of $320.97 million during the quarter, compared to the consensus estimate of $340.72 million. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. On average, analysts anticipate that WEBTOON Entertainment will post -1.3 earnings per share for the current year.

Insider Transactions at WEBTOON Entertainment

In other WEBTOON Entertainment news, Director Namsun Kim bought 7,195 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $13.90 per share, with a total value of $100,010.50. Following the acquisition, the director now owns 7,195 shares in the company, valued at approximately $100,010.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other WEBTOON Entertainment news, Director Namsun Kim purchased 7,195 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the transaction, the director now directly owns 7,195 shares in the company, valued at approximately $100,010.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Junkoo Kim acquired 22,596 shares of WEBTOON Entertainment stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $11.88 per share, for a total transaction of $268,440.48. Following the completion of the purchase, the insider now directly owns 905,070 shares of the company’s stock, valued at approximately $10,752,231.60. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 56,526 shares of company stock worth $710,459.

Institutional Trading of WEBTOON Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of WBTN. Sandia Investment Management LP purchased a new position in shares of WEBTOON Entertainment in the second quarter worth $114,000. WINTON GROUP Ltd purchased a new position in shares of WEBTOON Entertainment in the second quarter valued at about $413,000. Point72 Asset Management L.P. bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $816,000. Squarepoint Ops LLC purchased a new stake in shares of WEBTOON Entertainment during the second quarter worth about $1,256,000. Finally, Marshall Wace LLP bought a new stake in shares of WEBTOON Entertainment in the second quarter worth about $1,516,000.

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.