WEBTOON Entertainment (NASDAQ:WBTN) Given New $15.00 Price Target at The Goldman Sachs Group

WEBTOON Entertainment (NASDAQ:WBTN) had its target price decreased by The Goldman Sachs Group from $25.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 63.93% from the stock’s current price.

Several other brokerages have also commented on WBTN. Deutsche Bank Aktiengesellschaft lowered their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.33.

WEBTOON Entertainment Stock Up 1.9 %

Shares of NASDAQ:WBTN opened at $9.15 on Wednesday. WEBTOON Entertainment has a 12-month low of $8.97 and a 12-month high of $25.66. The stock’s 50-day moving average price is $12.40 and its 200-day moving average price is $12.03.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings data 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 business had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. On average, equities research analysts predict that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Institutional Trading of WEBTOON Entertainment

A number of large investors have recently made changes to their positions in WBTN. Millennium Management LLC lifted its position in WEBTOON Entertainment by 1,312.2% during the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock valued at $3,054,000 after purchasing an additional 208,962 shares during the period. Deutsche Bank AG bought a new position in shares of WEBTOON Entertainment during the 4th quarter valued at $54,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of WEBTOON Entertainment by 69.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock valued at $398,000 after buying an additional 11,954 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of WEBTOON Entertainment in the 4th quarter worth $5,033,000. Finally, Northern Trust Corp grew its holdings in shares of WEBTOON Entertainment by 6.8% in the fourth quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock worth $1,742,000 after acquiring an additional 8,190 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.