WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $16.75 Average Price Target from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.58.

WBTN has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on WEBTOON Entertainment from $13.00 to $10.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on WEBTOON Entertainment from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI dropped their price target on WEBTOON Entertainment from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price target on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th.

WEBTOON Entertainment Price Performance

Shares of NASDAQ:WBTN opened at $8.05 on Monday. The company has a market capitalization of $1.05 billion and a price-to-earnings ratio of 17.50. The business’s 50-day moving average is $8.57 and its 200-day moving average is $10.80. WEBTOON Entertainment has a 1 year low of $6.75 and a 1 year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. Analysts anticipate that WEBTOON Entertainment will post -0.26 EPS for the current year.

Insider Transactions at WEBTOON Entertainment

In related news, insider Junkoo Kim acquired 11,372 shares of the stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of $8.73 per share, with a total value of $99,277.56. Following the completion of the purchase, the insider now directly owns 498,812 shares in the company, valued at $4,354,628.76. This trade represents a 2.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.45% of the company’s stock.

Institutional Trading of WEBTOON Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. Walleye Capital LLC purchased a new stake in WEBTOON Entertainment in the first quarter worth $488,000. Hsbc Holdings PLC purchased a new position in shares of WEBTOON Entertainment in the first quarter valued at $187,000. Quantbot Technologies LP purchased a new position in shares of WEBTOON Entertainment in the first quarter valued at $158,000. American Century Companies Inc. grew its position in shares of WEBTOON Entertainment by 193.3% in the first quarter. American Century Companies Inc. now owns 43,803 shares of the company’s stock valued at $336,000 after purchasing an additional 28,867 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of WEBTOON Entertainment in the first quarter valued at $145,000.

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.