The Goldman Sachs Group Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $11.00

WEBTOON Entertainment (NASDAQ:WBTN) had its target price dropped by investment analysts at The Goldman Sachs Group from $15.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 22.63% from the company’s current price.

A number of other analysts have also recently commented on WBTN. JPMorgan Chase & Co. cut their price target on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley cut their target price on WEBTOON Entertainment from $13.00 to $10.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Citigroup began coverage on WEBTOON Entertainment in a research note on Thursday. They set a “buy” rating and a $11.00 target price for the company. Finally, Evercore ISI dropped their price target on WEBTOON Entertainment from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, WEBTOON Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $14.36.

WEBTOON Entertainment Stock Performance

NASDAQ:WBTN opened at $8.97 on Thursday. WEBTOON Entertainment has a fifty-two week low of $6.75 and a fifty-two week high of $25.66. The company has a 50 day simple moving average of $8.57 and a two-hundred day simple moving average of $10.77. The company has a market capitalization of $1.17 billion and a PE ratio of -6.23.

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

Insider Transactions at WEBTOON Entertainment

In other news, insider Junkoo Kim bought 11,372 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average cost of $8.73 per share, with a total value of $99,277.56. Following the transaction, the insider now directly owns 498,812 shares of the company’s stock, valued at approximately $4,354,628.76. This represents a 2.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at approximately $54,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in shares of WEBTOON Entertainment in the 1st quarter worth $58,000. New York State Common Retirement Fund acquired a new stake in WEBTOON Entertainment in the 4th quarter valued at $60,000. JPMorgan Chase & Co. acquired a new stake in WEBTOON Entertainment in the 3rd quarter valued at $75,000. Finally, Wells Fargo & Company MN increased its stake in WEBTOON Entertainment by 37.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,168 shares of the company’s stock valued at $111,000 after purchasing an additional 2,240 shares in the last quarter.

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.