WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Average Recommendation of “Moderate Buy” from Analysts

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.17.

WBTN has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. 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 research report on Monday, August 12th. JPMorgan Chase & Co. began coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They set a “neutral” rating and a $23.00 price target for the company. Evercore ISI dropped their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, The Goldman Sachs Group decreased their target price on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 12th.

Insider Buying and Selling at WEBTOON Entertainment

In other news, insider Yongsoo Kim purchased 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $12.92 per share, with a total value of $100,776.00. Following the purchase, the insider now owns 110,910 shares in the company, valued at $1,432,957.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other WEBTOON Entertainment news, Director Namsun Kim acquired 7,195 shares of the stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the acquisition, the director now owns 7,195 shares in the company, valued at approximately $100,010.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Yongsoo Kim acquired 7,800 shares of WEBTOON Entertainment stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the acquisition, the insider now directly owns 110,910 shares of the company’s stock, valued at approximately $1,432,957.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 56,526 shares of company stock valued at $710,459.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in WBTN. Federated Hermes Inc. purchased a new stake in WEBTOON Entertainment in the 2nd quarter valued at $32,145,000. Millennium Management LLC bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $18,346,000. Hood River Capital Management LLC purchased a new stake in shares of WEBTOON Entertainment in the second quarter valued at about $10,352,000. Ghisallo Capital Management LLC bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $2,055,000. Finally, Davidson Kempner Capital Management LP bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $1,610,000.

WEBTOON Entertainment Stock Performance

WBTN opened at $11.28 on Thursday. WEBTOON Entertainment has a fifty-two week low of $10.22 and a fifty-two week high of $25.66. The stock’s 50 day simple moving average is $11.78.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million for the quarter, compared to analyst estimates of $340.72 million. WEBTOON Entertainment’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. Equities research analysts forecast that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

WEBTOON Entertainment Company Profile

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.