WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $27.17 Average PT from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $27.17.

WBTN has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. HSBC started coverage on shares of WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target 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. Morgan Stanley reduced their price objective on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. initiated coverage on WEBTOON Entertainment in a research report on Monday, July 22nd. They set a “neutral” rating and a $23.00 price objective on the stock.

Insider Transactions at WEBTOON Entertainment

In related news, insider Junkoo Kim acquired 22,596 shares of the business’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $11.88 per share, with a total value of $268,440.48. Following the completion of the acquisition, the insider now owns 905,070 shares in the company, valued at $10,752,231.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other WEBTOON Entertainment news, insider Yongsoo Kim purchased 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $12.92 per share, for a total transaction of $100,776.00. Following the transaction, the insider now directly owns 110,910 shares in the company, valued at approximately $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 link. Also, insider Junkoo Kim acquired 22,596 shares of WEBTOON Entertainment stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $11.88 per share, for a total transaction of $268,440.48. Following the purchase, the insider now owns 905,070 shares of the company’s stock, valued at approximately $10,752,231.60. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 56,526 shares of company stock valued at $710,459.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sandia Investment Management LP acquired a new stake in WEBTOON Entertainment in the 2nd quarter valued at about $114,000. WINTON GROUP Ltd acquired a new position in shares of WEBTOON Entertainment during the second quarter worth approximately $413,000. Point72 Asset Management L.P. bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $816,000. Squarepoint Ops LLC acquired a new stake in shares of WEBTOON Entertainment in the second quarter valued at approximately $1,256,000. Finally, Marshall Wace LLP bought a new position in WEBTOON Entertainment in the 2nd quarter worth approximately $1,516,000.

WEBTOON Entertainment Trading Up 6.2 %

Shares of WBTN opened at $11.28 on Friday. The stock has a fifty day moving average price of $13.57. WEBTOON Entertainment has a one year low of $10.22 and a one year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.92. The business had revenue of $320.97 million for the quarter, compared to the consensus estimate of $340.72 million. WEBTOON Entertainment’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. On average, research analysts expect that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

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.