The Goldman Sachs Group Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $15.00

WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its price objective reduced by The Goldman Sachs Group from $25.00 to $15.00 in a research note released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.33.

WEBTOON Entertainment Stock Down 1.2 %

Shares of WBTN traded down $0.11 during trading on Wednesday, reaching $9.04. 288,509 shares of the company traded hands, 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 stock has a market cap of $1.16 billion and a PE ratio of 19.65. The stock has a 50-day simple moving average of $12.32 and a 200-day simple moving average of $12.00.

Remove Ads

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analyst estimates of $351.00 million. On average, equities research analysts predict that WEBTOON Entertainment will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in WEBTOON Entertainment by 30.9% in the fourth quarter. FMR LLC now owns 8,034,524 shares of the company's stock worth $109,109,000 after acquiring an additional 1,897,659 shares during the last quarter. Norges Bank purchased a new position in WEBTOON Entertainment in the fourth quarter worth approximately $11,862,000. Barclays PLC lifted its stake in WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company's stock worth $5,990,000 after acquiring an additional 488,779 shares during the last quarter. Geode Capital Management LLC lifted its stake in WEBTOON Entertainment by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 414,886 shares of the company's stock worth $5,635,000 after acquiring an additional 2,755 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in WEBTOON Entertainment in the fourth quarter worth approximately $5,033,000.

WEBTOON Entertainment Company Profile

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.