WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its price target decreased by Morgan Stanley from $16.00 to $13.00 in a report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other research analysts have also recently issued reports on WBTN. The Goldman Sachs Group decreased their target price on WEBTOON Entertainment from $48.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, WEBTOON Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.
Read Our Latest Stock Analysis on WBTN
WEBTOON Entertainment Stock Performance
Shares of NASDAQ WBTN traded down $0.11 during mid-day trading on Wednesday, reaching $9.04. The company had a trading volume of 288,509 shares, compared to its average volume of 449,550. WEBTOON Entertainment has a one year low of $8.75 and a one year high of $25.66. The firm has a market cap of $1.16 billion and a price-to-earnings ratio of 19.65. The business's 50-day simple moving average is $12.32 and its 200 day simple moving average is $12.00.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The company had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. On average, sell-side analysts anticipate that WEBTOON Entertainment will post -0.26 EPS for the current year.
Institutional Trading of WEBTOON Entertainment
A number of hedge funds have recently made changes to their positions in WBTN. Charles Schwab Investment Management Inc. acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $1,344,000. FMR LLC boosted its stake in shares of WEBTOON Entertainment by 45.0% during the third 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. BNP Paribas Financial Markets acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $45,000. MetLife Investment Management LLC acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $107,000. Finally, Verition Fund Management LLC acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $261,000.
About WEBTOON Entertainment
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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.
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