WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.33.

WBTN has been the topic of a number of research reports. Morgan Stanley cut their price target on WEBTOON Entertainment from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th.

Insider Buying and Selling at WEBTOON Entertainment

In other news, insider Junkoo Kim bought 11,372 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of $8.73 per share, with a total value of $99,277.56. Following the acquisition, the insider now owns 498,812 shares in the company, valued at $4,354,628.76. This trade represents a 2.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Remove Ads

Hedge Funds Weigh In On WEBTOON Entertainment

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. bought a new position in shares of WEBTOON Entertainment during the 3rd quarter worth approximately $1,344,000. FMR LLC grew its stake in WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company's stock valued at $70,206,000 after buying an additional 1,905,231 shares during the last quarter. BNP Paribas Financial Markets bought a new position in WEBTOON Entertainment in the 3rd quarter valued at about $45,000. MetLife Investment Management LLC acquired a new stake in WEBTOON Entertainment during the third quarter worth approximately $107,000. Finally, Verition Fund Management LLC bought a new stake in shares of WEBTOON Entertainment during the third quarter worth approximately $261,000.

WEBTOON Entertainment Stock Down 1.8 %

NASDAQ WBTN traded down $0.16 during trading hours on Friday, hitting $8.65. The company's stock had a trading volume of 100,305 shares, compared to its average volume of 435,916. WEBTOON Entertainment has a twelve month low of $8.32 and a twelve month high of $25.66. The firm has a market capitalization of $1.11 billion and a P/E ratio of 18.79. The stock has a fifty day moving average of $10.78 and a 200 day moving average of $11.50.

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 company had revenue of $352.85 million for the quarter, compared to analyst estimates of $351.00 million. On average, analysts predict that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

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.