WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) had its price target dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $18.00 to $16.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 42.48% from the stock's previous close.
Several other research firms have also commented on WBTN. Evercore ISI reduced their price target on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an "outperform" rating for the company in a report on Monday, August 12th. HSBC started coverage on WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a "buy" rating and a $23.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a "buy" rating for the company in a 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They issued a "neutral" rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.83.
View Our Latest Research Report on WEBTOON Entertainment
Shares of NASDAQ WBTN traded up $0.19 during mid-day trading on Tuesday, reaching $11.23. The company had a trading volume of 46,396 shares, compared to its average volume of 474,543. WEBTOON Entertainment has a 52 week low of $10.22 and a 52 week high of $25.66. The stock's 50-day moving average price is $11.40.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.92. The company had revenue of $320.97 million during the quarter, compared to the consensus estimate of $340.72 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. WEBTOON Entertainment's revenue was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that WEBTOON Entertainment will post -1.3 earnings per share for the current year.
In related news, insider Junkoo Kim acquired 22,596 shares of the company's stock in a transaction dated Friday, August 16th. The shares were purchased 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 directly owns 905,070 shares of the company's stock, valued at $10,752,231.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Namsun Kim purchased 7,195 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $13.90 per share, with a total value of $100,010.50. Following the transaction, the director now owns 7,195 shares of the company's stock, valued at approximately $100,010.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Junkoo Kim acquired 22,596 shares of the firm's stock in a transaction dated 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 acquisition, the insider now owns 905,070 shares in the company, valued at approximately $10,752,231.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 56,526 shares of company stock valued at $710,459.
Several institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $32,145,000. Ghisallo Capital Management LLC acquired a new stake in WEBTOON Entertainment during the second quarter valued at $2,055,000. Hood River Capital Management LLC acquired a new stake in WEBTOON Entertainment during the second quarter valued at $10,352,000. WINTON GROUP Ltd purchased a new position in WEBTOON Entertainment in the second quarter valued at $413,000. Finally, Sandia Investment Management LP acquired a new position in shares of WEBTOON Entertainment in the second quarter worth about $114,000.
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.
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