Morgan Stanley Has Lowered Expectations for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTN) had its target price cut by Morgan Stanley from $17.50 to $16.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft reduced their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEBTOON Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

WEBTOON Entertainment Trading Up 4.2 %

NASDAQ:WBTN opened at $13.27 on Monday. The stock’s 50 day moving average is $12.59. WEBTOON Entertainment has a fifty-two week low of $10.05 and a fifty-two week high of $25.66.

Institutional Trading of WEBTOON Entertainment

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new position in shares of WEBTOON Entertainment during the third quarter worth about $45,000. Sandia Investment Management LP purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter valued at about $114,000. JPMorgan Chase & Co. acquired a new position in WEBTOON Entertainment during the 3rd quarter worth approximately $75,000. MetLife Investment Management LLC purchased a new position in WEBTOON Entertainment in the 3rd quarter worth approximately $107,000. Finally, WINTON GROUP Ltd acquired a new stake in WEBTOON Entertainment in the second quarter valued at approximately $413,000.

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.