WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.33.

Several research firms recently weighed in on WBTN. JPMorgan Chase & Co. reduced their target price on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their target price on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th.

WEBTOON Entertainment Trading Up 0.8 %

NASDAQ WBTN opened at $8.73 on Friday. The business’s 50-day moving average price is $10.93 and its 200 day moving average price is $11.55. WEBTOON Entertainment has a twelve month low of $8.32 and a twelve month high of $25.66. The company has a market capitalization of $1.12 billion and a PE ratio of 18.98.

WEBTOON Entertainment (NASDAQ:WBTN) last released its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million during the quarter, compared to analysts’ expectations of $351.00 million. Equities analysts predict that WEBTOON Entertainment will post -0.26 EPS for the current year.

Insider Transactions at WEBTOON Entertainment

In related news, insider Junkoo Kim bought 11,372 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $99,277.56. Following the acquisition, the insider now owns 498,812 shares in the company, valued at $4,354,628.76. This represents a 2.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On WEBTOON Entertainment

Several hedge funds have recently modified their holdings of WBTN. Charles Schwab Investment Management Inc. acquired a new stake in WEBTOON Entertainment during the 3rd quarter valued at approximately $1,344,000. FMR LLC grew its position in shares of WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after acquiring an additional 1,905,231 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $45,000. MetLife Investment Management LLC bought a new position in WEBTOON Entertainment during the 3rd quarter worth $107,000. Finally, Verition Fund Management LLC bought a new position in WEBTOON Entertainment during the 3rd quarter worth $261,000.

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.