Analysts Set WEBTOON Entertainment Inc. (NASDAQ:WBTN) Target Price at $27.17

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $27.17.

WBTN has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. initiated coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They set a “neutral” rating and a $23.00 price target on the stock. Morgan Stanley dropped their price target 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. Finally, Evercore ISI dropped their price target on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th.

WEBTOON Entertainment Stock Up 0.7 %

Shares of NASDAQ WBTN opened at $10.81 on Thursday. The firm’s 50-day simple moving average is $11.57. WEBTOON Entertainment has a 1 year low of $10.22 and a 1 year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million for the quarter, compared to analyst estimates of $340.72 million. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. As a group, research analysts anticipate that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Namsun Kim acquired 7,195 shares of the stock in a transaction on Wednesday, August 21st. The shares were acquired at an average price of $13.90 per share, with a total value of $100,010.50. Following the completion of the transaction, 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 SEC, which is accessible through this link. In other WEBTOON Entertainment news, insider Junkoo Kim bought 22,596 shares of WEBTOON Entertainment stock in a transaction dated Friday, August 16th. The stock was purchased at an average price 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Namsun Kim bought 7,195 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of $13.90 per share, with a total value of $100,010.50. Following the purchase, the director now directly owns 7,195 shares of the company’s stock, valued at approximately $100,010.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 56,526 shares of company stock valued at $710,459.

Hedge Funds Weigh In On WEBTOON Entertainment

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in shares of WEBTOON Entertainment in the second quarter worth about $32,145,000. Millennium Management LLC purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $18,346,000. Hood River Capital Management LLC purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $10,352,000. Ghisallo Capital Management LLC purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $2,055,000. Finally, Davidson Kempner Capital Management LP purchased a new position in WEBTOON Entertainment during the second quarter valued at approximately $1,610,000.

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.