WEBTOON Entertainment (NASDAQ:WBTN) Shares Gap Up – Should You Buy?

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) gapped up before the market opened on Monday . The stock had previously closed at $12.75, but opened at $13.14. WEBTOON Entertainment shares last traded at $13.14, with a volume of 72,297 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Morgan Stanley dropped their price target on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.67.

WEBTOON Entertainment Stock Up 6.0 %

The stock has a fifty day moving average of $13.03 and a 200-day moving average of $13.11.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.48) by $0.70. The firm had revenue of $347.92 million for the quarter, compared to analyst estimates of $336.43 million. As a group, research analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Institutional Trading of WEBTOON Entertainment

Large investors have recently bought and sold shares of the company. New York State Common Retirement Fund purchased a new position in shares of WEBTOON Entertainment during the 4th quarter worth about $60,000. Rhumbline Advisers lifted its stake in shares of WEBTOON Entertainment by 24.4% in the fourth quarter. Rhumbline Advisers now owns 21,423 shares of the company’s stock worth $291,000 after acquiring an additional 4,206 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of WEBTOON Entertainment in the fourth quarter worth $306,000. SG Americas Securities LLC acquired a new position in WEBTOON Entertainment in the fourth quarter worth about $892,000. Finally, JPMorgan Chase & Co. acquired a new position in WEBTOON Entertainment in the third quarter worth $75,000.

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.