The Goldman Sachs Group Cuts WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $25.00

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective decreased by The Goldman Sachs Group from $48.00 to $25.00 in a research note issued to investors on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

WBTN has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lowered their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

WEBTOON Entertainment Stock Down 1.0 %

NASDAQ:WBTN opened at $12.94 on Monday. WEBTOON Entertainment has a fifty-two week low of $10.05 and a fifty-two week high of $25.66. The firm’s 50 day moving average is $12.95 and its two-hundred day moving average is $13.33.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.48) by $0.70. The firm had revenue of $347.92 million for the quarter, compared to analyst estimates of $336.43 million. On average, analysts forecast that WEBTOON Entertainment will post -0.26 EPS for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

Several institutional investors have recently made changes to their positions in WBTN. FMR LLC raised its stake in WEBTOON Entertainment by 45.0% during the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after acquiring an additional 1,905,231 shares in the last quarter. Millennium Management LLC bought a new position in WEBTOON Entertainment in the 2nd quarter valued at about $18,346,000. Barclays PLC increased its stake in WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after buying an additional 488,779 shares during the period. Potrero Capital Research LLC bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter worth about $4,176,000. Finally, Geode Capital Management LLC lifted its stake in shares of WEBTOON Entertainment by 290.1% in the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after acquiring an additional 306,496 shares during the period.

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.