The Goldman Sachs Group Increases WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $15.00

WEBTOON Entertainment (NASDAQ:WBTN) had its target price raised by The Goldman Sachs Group from $11.00 to $15.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on WBTN. Morgan Stanley dropped their price target on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Citigroup began coverage on shares of WEBTOON Entertainment in a report on Thursday, May 15th. They set a “buy” rating and a $11.00 target price for the company. Finally, Evercore ISI increased their price objective on shares of WEBTOON Entertainment from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.43.

WEBTOON Entertainment Stock Performance

NASDAQ:WBTN opened at $14.97 on Wednesday. The firm’s 50-day moving average is $9.66 and its 200-day moving average is $9.42. WEBTOON Entertainment has a 52-week low of $6.75 and a 52-week high of $18.45. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -19.44 and a beta of 1.12.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. WEBTOON Entertainment had a negative net margin of 7.24% and a negative return on equity of 0.13%. The firm had revenue of $348.27 million for the quarter, compared to analyst estimates of $341.63 million. During the same period in the previous year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that WEBTOON Entertainment will post -0.26 EPS for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of WEBTOON Entertainment by 59.6% in the 2nd quarter. Signaturefd LLC now owns 3,375 shares of the company’s stock valued at $31,000 after purchasing an additional 1,261 shares in the last quarter. CWM LLC raised its holdings in WEBTOON Entertainment by 649.0% during the 2nd quarter. CWM LLC now owns 4,674 shares of the company’s stock worth $42,000 after purchasing an additional 4,050 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment in the 4th quarter valued at $54,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of WEBTOON Entertainment in the 1st quarter valued at $58,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in WEBTOON Entertainment by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,816 shares of the company’s stock valued at $89,000 after purchasing an additional 774 shares in the last quarter.

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.