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

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective dropped by research analysts at Morgan Stanley from $17.50 to $16.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 25.59% from the company’s current price.

Separately, Deutsche Bank Aktiengesellschaft decreased their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, WEBTOON Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

WEBTOON Entertainment Stock Up 0.7 %

Shares of WBTN opened at $12.74 on Monday. WEBTOON Entertainment has a 12-month low of $10.05 and a 12-month high of $25.66. The firm has a 50-day moving average price of $12.56.

Hedge Funds Weigh In On WEBTOON Entertainment

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in WEBTOON Entertainment during the third quarter worth $75,000. Geode Capital Management LLC lifted its stake in WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after acquiring an additional 306,496 shares in the last quarter. Barclays PLC boosted its holdings in WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after acquiring an additional 488,779 shares during the period. State Street Corp acquired a new position in WEBTOON Entertainment in the 3rd quarter valued at about $1,560,000. Finally, Potrero Capital Research LLC purchased a new stake in WEBTOON Entertainment during the third quarter worth about $4,176,000.

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.