WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $28.00 Consensus Target Price from Analysts

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) has earned an average rating of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $27.17.

Several equities analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an "outperform" rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group dropped their target price on WEBTOON Entertainment from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. assumed coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They issued a "neutral" rating and a $23.00 target price on the stock. Finally, Morgan Stanley decreased their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, August 16th.

Insider Buying and Selling at WEBTOON Entertainment

In other WEBTOON Entertainment news, insider Yongsoo Kim bought 7,800 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the acquisition, the insider now directly owns 110,910 shares in the company, valued at approximately $1,432,957.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Namsun Kim acquired 7,195 shares of the stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $13.90 per share, with a total value of $100,010.50. Following the completion of the purchase, the director now owns 7,195 shares of the company's stock, valued at approximately $100,010.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yongsoo Kim bought 7,800 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $12.92 per share, with a total value of $100,776.00. Following the purchase, the insider now owns 110,910 shares of the company's stock, valued at $1,432,957.20. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 56,526 shares of company stock worth $710,459.

Institutional Trading of WEBTOON Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in shares of WEBTOON Entertainment during the second quarter worth $32,145,000. Millennium Management LLC acquired a new stake in shares of WEBTOON Entertainment in the second quarter worth approximately $18,346,000. Hood River Capital Management LLC purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter valued at $10,352,000. Ghisallo Capital Management LLC purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter worth $2,055,000. Finally, Davidson Kempner Capital Management LP acquired a new position in WEBTOON Entertainment in the second quarter valued at $1,610,000.

WEBTOON Entertainment Stock Performance

WEBTOON Entertainment stock traded down $0.30 during midday trading on Wednesday, hitting $12.13. 138,987 shares of the company's stock were exchanged, compared to its average volume of 588,244. WEBTOON Entertainment has a 52-week low of $11.15 and a 52-week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.72) by $0.92. The company had revenue of $320.97 million for the quarter, compared to the consensus estimate of $340.72 million. During the same period last year, the business posted ($0.01) earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. Analysts forecast that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

WEBTOON Entertainment Company Profile

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.