Deutsche Bank Aktiengesellschaft Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $16.00

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) had its target price dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $18.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 42.10% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group reduced their price target on WEBTOON Entertainment from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Morgan Stanley lowered their price target on shares of WEBTOON Entertainment from $23.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. initiated coverage on shares of WEBTOON Entertainment in a research note on Monday, July 22nd. They set a "neutral" rating and a $23.00 price objective for the company. HSBC initiated coverage on shares of WEBTOON Entertainment in a report on Wednesday, September 4th. They issued a "buy" rating and a $23.00 price target for the company. Finally, Evercore ISI decreased their price target on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.83.

WEBTOON Entertainment Trading Up 2.0 %

WBTN stock traded up $0.22 during midday trading on Tuesday, hitting $11.26. The company's stock had a trading volume of 283,551 shares, compared to its average volume of 477,147. The company's 50-day moving average is $11.36. WEBTOON Entertainment has a 1 year low of $10.22 and a 1 year 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 earnings per share 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. The firm's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, analysts forecast that WEBTOON Entertainment will post -1.3 earnings per share for the current fiscal year.

Insider Transactions at WEBTOON Entertainment

In related news, insider Yongsoo Kim acquired 7,800 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $12.92 per share, with a total value of $100,776.00. Following the acquisition, the insider now owns 110,910 shares of the company's stock, valued at approximately $1,432,957.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Yongsoo Kim bought 7,800 shares of WEBTOON Entertainment stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $12.92 per share, with a total value of $100,776.00. Following the completion of the purchase, the insider now directly owns 110,910 shares in the company, valued at $1,432,957.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Namsun Kim purchased 7,195 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $13.90 per share, with a total value of $100,010.50. Following the purchase, the director now owns 7,195 shares of the company's stock, valued at approximately $100,010.50. The disclosure for this purchase can be found here. Insiders have purchased 56,526 shares of company stock valued at $710,459 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WBTN. Federated Hermes Inc. purchased a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at $32,145,000. Ghisallo Capital Management LLC bought a new stake in WEBTOON Entertainment in the second quarter worth $2,055,000. Hood River Capital Management LLC purchased a new stake in WEBTOON Entertainment during the second quarter valued at about $10,352,000. WINTON GROUP Ltd bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $413,000. Finally, Sandia Investment Management LP purchased a new position in shares of WEBTOON Entertainment in the second quarter worth about $114,000.

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.