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

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price 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. Morgan Stanley cut their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. HSBC started coverage on WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. started coverage on WEBTOON Entertainment in a research report on Monday, July 22nd. They set a “neutral” rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price objective on WEBTOON Entertainment from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Evercore ISI cut their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, August 12th.

Insider Activity at WEBTOON Entertainment

In other WEBTOON Entertainment news, insider Yongsoo Kim purchased 7,800 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $12.92 per share, with a total value of $100,776.00. Following the acquisition, the insider now owns 110,910 shares in the company, valued at $1,432,957.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Yongsoo Kim acquired 7,800 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the purchase, the insider now directly owns 110,910 shares in the company, valued at $1,432,957.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Namsun Kim acquired 7,195 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $13.90 per share, with a total value of $100,010.50. Following the purchase, the director now owns 7,195 shares of the company’s stock, valued at $100,010.50. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 56,526 shares of company stock valued at $710,459.

Institutional Trading of WEBTOON Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $2,055,000. Point72 Asset Management L.P. bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $816,000. Millennium Management LLC bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $18,346,000. Squarepoint Ops LLC bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $1,256,000. Finally, Sandia Investment Management LP bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $114,000.

WEBTOON Entertainment Trading Down 9.2 %

Shares of WEBTOON Entertainment stock opened at $10.62 on Friday. WEBTOON Entertainment has a one year low of $10.22 and a one year high of $25.66. The business has a fifty day moving average of $13.78.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million during the quarter, compared to analysts’ expectations of $340.72 million. During the same quarter in the previous year, the company posted ($0.01) EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, analysts forecast that WEBTOON Entertainment will post -1.3 earnings per share for the current year.

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.