Brokerages Set WEBTOON Entertainment Inc. (NASDAQ:WBTN) Price Target at $17.33

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

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. decreased 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. Morgan Stanley lowered their price objective 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. Finally, The Goldman Sachs Group reduced their target price on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th.

WEBTOON Entertainment Price Performance

Shares of WEBTOON Entertainment stock opened at $8.04 on Friday. The business has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $11.44. WEBTOON Entertainment has a 1 year low of $8.03 and a 1 year high of $25.66. The company has a market capitalization of $1.04 billion and a price-to-earnings ratio of 17.48.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $352.85 million for the quarter, compared to the consensus estimate of $351.00 million. As a group, equities analysts anticipate that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at WEBTOON Entertainment

In other news, insider Junkoo Kim purchased 11,372 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average price of $8.73 per share, with a total value of $99,277.56. Following the acquisition, the insider now owns 498,812 shares in the company, valued at approximately $4,354,628.76. The trade was a 2.33 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings 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 valued at $70,206,000 after purchasing an additional 1,905,231 shares in the last quarter. Norges Bank bought a new stake in shares of WEBTOON Entertainment during the 4th quarter worth $11,862,000. Barclays PLC boosted its stake in WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after buying an additional 488,779 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in WEBTOON Entertainment in the fourth quarter valued at about $5,033,000. Finally, Potrero Capital Research LLC bought a new position in WEBTOON Entertainment in the third quarter valued at about $4,176,000.

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.