WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $16.75.

WBTN has been the subject of several recent research reports. Morgan Stanley reduced their price target on WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their target price on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, February 26th.

WEBTOON Entertainment Trading Down 0.5 %

Shares of NASDAQ:WBTN traded down $0.04 during mid-day trading on Thursday, hitting $8.62. 320,195 shares of the company traded hands, compared to its average volume of 436,702. The stock has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $11.04. The stock has a market cap of $1.11 billion and a P/E ratio of 18.74. WEBTOON Entertainment has a 12-month low of $6.75 and a 12-month high of $25.66.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WBTN. Charles Schwab Investment Management Inc. purchased a new stake in shares of WEBTOON Entertainment in the third quarter worth $1,344,000. State Street Corp purchased a new position in WEBTOON Entertainment during the third quarter worth $1,560,000. SG Americas Securities LLC bought a new position in WEBTOON Entertainment during the 4th quarter valued at about $892,000. Barclays PLC raised its holdings in shares of 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 buying an additional 488,779 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of WEBTOON Entertainment by 290.1% during the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company's stock worth $4,716,000 after purchasing an additional 306,496 shares during the last quarter.

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.