The Goldman Sachs Group Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $15.00

WEBTOON Entertainment (NASDAQ:WBTN) had its price target reduced by The Goldman Sachs Group from $25.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

WBTN has been the subject of several other research reports. JPMorgan Chase & Co. dropped their target price on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley dropped their target price on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

WEBTOON Entertainment Trading Down 10.5 %

WBTN opened at $8.98 on Wednesday. WEBTOON Entertainment has a 12 month low of $8.97 and a 12 month high of $25.66. The stock has a 50-day moving average of $12.47 and a 200 day moving average of $12.05.

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

Institutional Trading of WEBTOON Entertainment

Several institutional investors and hedge funds have recently modified their holdings of WBTN. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment during the third quarter valued at approximately $45,000. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at approximately $54,000. New York State Common Retirement Fund bought a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at approximately $60,000. JPMorgan Chase & Co. bought a new stake in shares of WEBTOON Entertainment during the third quarter valued at approximately $75,000. Finally, MetLife Investment Management LLC bought a new stake in shares of WEBTOON Entertainment during the third quarter valued at approximately $107,000.

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.