JPMorgan Chase & Co. Issues Pessimistic Forecast for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $12.00 to $10.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on WBTN. Morgan Stanley cut their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group dropped their price target on WEBTOON Entertainment from $48.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.33.

WEBTOON Entertainment Price Performance

NASDAQ:WBTN traded down $0.11 during trading hours on Wednesday, reaching $9.04. 288,509 shares of the stock were exchanged, compared to its average volume of 449,550. WEBTOON Entertainment has a twelve month low of $8.75 and a twelve month high of $25.66. The firm has a 50 day moving average of $12.32 and a 200 day moving average of $12.00. The stock has a market cap of $1.16 billion and a PE ratio of 19.65.

Remove Ads

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. Equities research analysts anticipate that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of large investors have recently added to or reduced their stakes in WBTN. FMR LLC raised its stake in 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 acquiring an additional 1,905,231 shares during the period. Norges Bank bought a new position in WEBTOON Entertainment during the 4th quarter worth $11,862,000. Barclays PLC increased its position in WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company's stock worth $5,990,000 after buying an additional 488,779 shares during the period. Ameriprise Financial Inc. bought a new position in WEBTOON Entertainment during the 4th quarter worth $5,033,000. Finally, Potrero Capital Research LLC bought a new position in WEBTOON Entertainment during the 3rd quarter worth $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.