Analysts Set WEBTOON Entertainment Inc. (NASDAQ:WBTN) Price Target at $17.33

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.33.

Several research analysts have commented on WBTN shares. JPMorgan Chase & Co. cut their price target 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. The Goldman Sachs Group reduced their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered 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.

Insider Buying and Selling

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

Institutional Inflows and Outflows

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

WEBTOON Entertainment Stock Performance

Shares of WBTN opened at $8.49 on Friday. The stock has a market capitalization of $1.09 billion and a price-to-earnings ratio of 18.46. WEBTOON Entertainment has a 52-week low of $8.32 and a 52-week high of $25.66. The stock’s 50-day simple moving average is $10.60 and its 200 day simple moving average is $11.45.

WEBTOON Entertainment (NASDAQ:WBTN) last released 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, research analysts forecast that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

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.