The Goldman Sachs Group Boosts WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $15.00

WEBTOON Entertainment (NASDAQ:WBTN) had its price target raised by equities researchers at The Goldman Sachs Group from $11.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 8.76% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Citigroup assumed coverage on WEBTOON Entertainment in a research report on Thursday, May 15th. They set a “buy” rating and a $11.00 price objective for the company. Morgan Stanley reduced their price objective on WEBTOON Entertainment from $13.00 to $10.50 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI upped their price objective on WEBTOON Entertainment from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.43.

WEBTOON Entertainment Price Performance

Shares of WEBTOON Entertainment stock opened at $16.44 on Wednesday. WEBTOON Entertainment has a 1 year low of $6.75 and a 1 year high of $18.45. The business has a 50-day moving average of $9.54 and a two-hundred day moving average of $9.40. The company has a market capitalization of $2.14 billion, a P/E ratio of -21.35 and a beta of 1.12.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. WEBTOON Entertainment had a negative return on equity of 0.13% and a negative net margin of 7.24%. The company had revenue of $348.27 million during the quarter, compared to the consensus estimate of $341.63 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that WEBTOON Entertainment will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. acquired a new position in WEBTOON Entertainment during the fourth quarter valued at approximately $5,033,000. Millennium Management LLC boosted its position in WEBTOON Entertainment by 1,312.2% during the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock valued at $3,054,000 after purchasing an additional 208,962 shares during the last quarter. Renaissance Technologies LLC boosted its position in WEBTOON Entertainment by 355.7% during the fourth quarter. Renaissance Technologies LLC now owns 51,950 shares of the company’s stock valued at $705,000 after purchasing an additional 40,550 shares during the last quarter. Alliancebernstein L.P. acquired a new position in WEBTOON Entertainment during the fourth quarter valued at approximately $1,381,000. Finally, Wells Fargo & Company MN boosted its position in WEBTOON Entertainment by 37.8% during the fourth 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 during 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.