The Goldman Sachs Group Has Lowered Expectations for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTNGet Free Report) had its target price decreased by equities researchers at The Goldman Sachs Group from $48.00 to $25.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 91.28% from the company’s current price.

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

Check Out Our Latest Research Report on WEBTOON Entertainment

WEBTOON Entertainment Stock Up 3.2 %

NASDAQ:WBTN opened at $13.07 on Monday. WEBTOON Entertainment has a twelve month low of $10.05 and a twelve month high of $25.66. The business has a 50 day moving average price of $12.91 and a two-hundred day moving average price of $13.38.

WEBTOON Entertainment (NASDAQ:WBTNGet Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.70. The business had revenue of $347.92 million during the quarter, compared to the consensus estimate of $336.43 million. On average, research analysts expect that WEBTOON Entertainment will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in WEBTOON Entertainment during the second quarter worth $1,516,000. Squarepoint Ops LLC acquired a new position in WEBTOON Entertainment in the 2nd quarter valued at about $1,256,000. Millennium Management LLC bought a new position in WEBTOON Entertainment in the 2nd quarter valued at about $18,346,000. Point72 Asset Management L.P. acquired a new stake in WEBTOON Entertainment during the second quarter worth approximately $816,000. Finally, Ghisallo Capital Management LLC acquired a new stake in WEBTOON Entertainment during the second quarter worth approximately $2,055,000.

WEBTOON Entertainment Company Profile

(Get Free Report)

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.

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Analyst Recommendations for WEBTOON Entertainment (NASDAQ:WBTN)

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