WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $28.00 Average Target Price from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $27.17.

Several research firms have weighed in on WBTN. HSBC initiated coverage on shares of WEBTOON Entertainment in a research note on Wednesday. They issued a “buy” rating and a $23.00 price objective on the stock. Evercore ISI dropped their price target on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. began coverage on shares of WEBTOON Entertainment in a research note on Monday, July 22nd. They set a “neutral” rating and a $23.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, The Goldman Sachs Group reduced their price target on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a report on Monday, August 12th.

Insiders Place Their Bets

In other WEBTOON Entertainment news, Director Namsun Kim bought 7,195 shares of the stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the purchase, the director now owns 7,195 shares in the company, valued at approximately $100,010.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Junkoo Kim acquired 22,596 shares of the company’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $11.88 per share, with a total value of $268,440.48. Following the acquisition, the insider now owns 905,070 shares of the company’s stock, valued at approximately $10,752,231.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Namsun Kim bought 7,195 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $13.90 per share, for a total transaction of $100,010.50. Following the purchase, the director now directly owns 7,195 shares in the company, valued at approximately $100,010.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 56,526 shares of company stock valued at $710,459.

Hedge Funds Weigh In On WEBTOON Entertainment

Several institutional investors have recently modified their holdings of the stock. Sandia Investment Management LP acquired a new position in shares of WEBTOON Entertainment during the 2nd quarter worth about $114,000. WINTON GROUP Ltd bought a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at about $413,000. Point72 Asset Management L.P. bought a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at about $816,000. Squarepoint Ops LLC bought a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at about $1,256,000. Finally, Marshall Wace LLP bought a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at about $1,516,000.

WEBTOON Entertainment Stock Down 0.8 %

WBTN stock opened at $12.17 on Wednesday. WEBTOON Entertainment has a 12 month low of $11.15 and a 12 month high of $25.66. The company’s 50 day simple moving average is $16.88.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.92. The firm had revenue of $320.97 million for the quarter, compared to analyst estimates of $340.72 million. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. Equities analysts predict that WEBTOON Entertainment will post -1.3 earnings per share for the current fiscal year.

About WEBTOON Entertainment

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.