WEBTOON Entertainment (NASDAQ:WBTN) Given New $25.00 Price Target at The Goldman Sachs Group

WEBTOON Entertainment (NASDAQ:WBTN) had its price target decreased by The Goldman Sachs Group from $48.00 to $25.00 in a research report report published on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley cut their price objective on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

WEBTOON Entertainment Stock Performance

WEBTOON Entertainment stock opened at $12.66 on Monday. The company has a 50-day simple moving average of $12.87 and a 200-day simple moving average of $13.43. WEBTOON Entertainment has a one year low of $10.05 and a one year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its earnings results on Thursday, November 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.48) by $0.70. The firm had revenue of $347.92 million during the quarter, compared to the consensus estimate of $336.43 million. On average, research analysts predict that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WEBTOON Entertainment

Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of WEBTOON Entertainment by 45.0% in the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after buying an additional 1,905,231 shares during the period. Millennium Management LLC acquired a new stake in WEBTOON Entertainment in the 2nd quarter valued at about $18,346,000. Barclays PLC boosted its position in shares of 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 purchasing an additional 488,779 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of WEBTOON Entertainment by 290.1% in the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after purchasing an additional 306,496 shares during the last quarter. Finally, Potrero Capital Research LLC acquired a new position in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $4,176,000.

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.