WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its price objective hoisted by The Goldman Sachs Group from $11.00 to $15.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Other research analysts also recently issued research reports about the stock. Morgan Stanley dropped their price objective on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Evercore ISI increased their price target on shares of WEBTOON Entertainment from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Citigroup initiated coverage on shares of WEBTOON Entertainment in a report on Thursday, May 15th. They issued a "buy" rating and a $11.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.43.
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WEBTOON Entertainment Stock Performance
Shares of WBTN traded down $1.47 during midday trading on Wednesday, hitting $14.97. 1,386,372 shares of the company traded hands, compared to its average volume of 1,113,842. The firm has a 50 day moving average of $9.66 and a 200-day moving average of $9.39. WEBTOON Entertainment has a 52 week low of $6.75 and a 52 week high of $18.45. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -19.44 and a beta of 1.12.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. WEBTOON Entertainment had a negative net margin of 7.24% and a negative return on equity of 0.13%. The business had revenue of $348.27 million during the quarter, compared to the consensus estimate of $341.63 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business's revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.
Institutional Trading of WEBTOON Entertainment
Several institutional investors have recently added to or reduced their stakes in WBTN. Bank of America Corp DE lifted its stake in WEBTOON Entertainment by 966.9% in the second quarter. Bank of America Corp DE now owns 823,708 shares of the company's stock worth $7,479,000 after purchasing an additional 746,505 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in WEBTOON Entertainment in the fourth quarter worth about $5,033,000. Millennium Management LLC lifted its stake in WEBTOON Entertainment by 1,312.2% in the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company's stock worth $3,054,000 after purchasing an additional 208,962 shares during the last quarter. Optimize Financial Inc bought a new stake in WEBTOON Entertainment in the first quarter worth about $1,132,000. Finally, Norges Bank bought a new stake in WEBTOON Entertainment in the second quarter worth about $1,271,000.
About WEBTOON Entertainment
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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.
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