Deutsche Bank Aktiengesellschaft Has Lowered Expectations for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTN) had its target price cut by Deutsche Bank Aktiengesellschaft from $18.00 to $16.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on WBTN. Morgan Stanley decreased their target price on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. HSBC initiated coverage on WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $23.00 target price on the stock. The Goldman Sachs Group dropped their price objective on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Evercore ISI dropped their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. began coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They issued a “neutral” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and an average target price of $26.83.

WEBTOON Entertainment Stock Up 2.0 %

Shares of WBTN stock opened at $11.26 on Tuesday. WEBTOON Entertainment has a fifty-two week low of $10.22 and a fifty-two week high of $25.66. The company has a 50 day moving average of $11.36.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Thursday, August 8th. The company reported $0.20 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 the consensus estimate of $340.72 million. WEBTOON Entertainment’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, equities analysts predict that WEBTOON Entertainment will post -1.3 EPS for the current year.

Insider Transactions at WEBTOON Entertainment

In related news, insider Junkoo Kim acquired 22,596 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $11.88 per share, with a total value 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 $10,752,231.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEBTOON Entertainment news, insider Yongsoo Kim bought 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $12.92 per share, with a total value of $100,776.00. Following the purchase, the insider now owns 110,910 shares of the company’s stock, valued at $1,432,957.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Junkoo Kim bought 22,596 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $11.88 per share, for a total transaction of $268,440.48. Following the purchase, the insider now directly owns 905,070 shares in the company, valued at $10,752,231.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 56,526 shares of company stock valued at $710,459 over the last quarter.

Institutional Trading of WEBTOON Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. purchased a new position in WEBTOON Entertainment during the 2nd quarter valued at approximately $32,145,000. WINTON GROUP Ltd purchased a new position in WEBTOON Entertainment during the 2nd quarter valued at approximately $413,000. Hood River Capital Management LLC purchased a new position in WEBTOON Entertainment during the 2nd quarter valued at approximately $10,352,000. Davidson Kempner Capital Management LP purchased a new position in WEBTOON Entertainment during the 2nd quarter valued at approximately $1,610,000. Finally, Marshall Wace LLP purchased a new position in WEBTOON Entertainment during the 2nd quarter valued at approximately $1,516,000.

About WEBTOON Entertainment

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.