WEBTOON Entertainment (NASDAQ:WBTN) Given New $15.00 Price Target at The Goldman Sachs Group

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective cut by The Goldman Sachs Group from $25.00 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 60.00% from the stock’s current price.

A number of other equities analysts have also recently weighed in on WBTN. Deutsche Bank Aktiengesellschaft lowered their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley dropped their target price on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.33.

WEBTOON Entertainment Stock Performance

Shares of NASDAQ WBTN traded down $0.66 during trading on Wednesday, reaching $9.38. 393,661 shares of the company traded hands, compared to its average volume of 277,534. WEBTOON Entertainment has a 12-month low of $9.00 and a 12-month high of $25.66. The firm’s fifty day simple moving average is $12.53 and its 200 day simple moving average is $12.07.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analyst estimates of $351.00 million. On average, equities analysts forecast that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

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

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.