HSBC began coverage on shares of WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $23.00 price target on the stock. HSBC's price target would indicate a potential upside of 89.61% from the stock's previous close.
WBTN has been the subject of several other research reports. JPMorgan Chase & Co. initiated coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They set a "neutral" rating and a $23.00 price objective for the company. Evercore ISI lowered their price target 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 reduced their price objective on WEBTOON Entertainment from $25.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group lowered their price objective on WEBTOON Entertainment from $62.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Finally, Morgan Stanley cut their target price on WEBTOON Entertainment from $23.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.17.
Get Our Latest Analysis on WBTN
WEBTOON Entertainment Stock Down 2.4 %
Shares of WBTN stock traded down $0.30 during trading hours on Wednesday, reaching $12.13. 138,987 shares of the company traded hands, compared to its average volume of 588,244. WEBTOON Entertainment has a 12-month low of $11.15 and a 12-month high of $25.66.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.72) by $0.92. The company had revenue of $320.97 million during the quarter, compared to analysts' expectations of $340.72 million. WEBTOON Entertainment's quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. On average, analysts expect that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.
Insider Transactions at WEBTOON Entertainment
In other WEBTOON Entertainment news, insider Junkoo Kim acquired 22,596 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $11.88 per share, for a total transaction of $268,440.48. Following the acquisition, the insider now directly owns 905,070 shares in the company, valued at $10,752,231.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Junkoo Kim acquired 22,596 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $11.88 per share, for a total transaction of $268,440.48. Following the acquisition, the insider now directly owns 905,070 shares of the company's stock, valued at approximately $10,752,231.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Namsun Kim bought 7,195 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $13.90 per share, for a total transaction of $100,010.50. Following the completion of the purchase, the director now directly owns 7,195 shares in the company, valued at $100,010.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 56,526 shares of company stock worth $710,459.
Institutional Trading of WEBTOON Entertainment
A number of hedge funds have recently bought and sold shares of WBTN. Millennium Management LLC purchased a new position in WEBTOON Entertainment in the second quarter worth $18,346,000. Marshall Wace LLP acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $1,516,000. Squarepoint Ops LLC purchased a new position in WEBTOON Entertainment during the 2nd quarter worth $1,256,000. Point72 Asset Management L.P. acquired a new position in shares of WEBTOON Entertainment during the second quarter valued at about $816,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $2,055,000.
About WEBTOON Entertainment
(
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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.
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