WEBTOON Entertainment (NASDAQ:WBTN) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

WEBTOON Entertainment (NASDAQ:WBTN) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $12.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.21% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on WBTN. Morgan Stanley lowered their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut 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. Finally, The Goldman Sachs Group decreased their price target on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating for the company in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

WEBTOON Entertainment Stock Performance

WBTN traded down $0.62 during midday trading on Wednesday, reaching $9.42. The company’s stock had a trading volume of 371,542 shares, compared to its average volume of 275,974. WEBTOON Entertainment has a twelve month low of $9.00 and a twelve month high of $25.66. The company has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $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 analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analysts’ expectations 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in shares of WEBTOON Entertainment by 1,312.2% in the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock valued at $3,054,000 after buying an additional 208,962 shares during the period. Deutsche Bank AG purchased a new position in WEBTOON Entertainment during the 4th quarter valued at $54,000. D. E. Shaw & Co. Inc. boosted its position in shares of WEBTOON Entertainment by 69.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock valued at $398,000 after buying an additional 11,954 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in WEBTOON Entertainment in the fourth quarter worth approximately $5,033,000. Finally, Northern Trust Corp grew its stake in shares of WEBTOON Entertainment by 6.8% during the 4th quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock valued at $1,742,000 after purchasing an additional 8,190 shares during the period.

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.