WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Consensus Rating of "Moderate Buy" by Analysts

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $14.36.

A number of brokerages have commented on WBTN. Citigroup began coverage on shares of WEBTOON Entertainment in a research report on Thursday, May 15th. They set a "buy" rating and a $11.00 price target on the stock. Morgan Stanley reduced their price target on shares of 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. The Goldman Sachs Group reduced their price target on shares of WEBTOON Entertainment from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced 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. Finally, Evercore ISI reduced their price target on shares of WEBTOON Entertainment from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th.

WEBTOON Entertainment Stock Down 1.4%

Shares of WBTN stock traded down $0.12 during trading on Friday, hitting $8.62. The company had a trading volume of 249,585 shares, compared to its average volume of 422,849. The stock's 50-day moving average is $8.67 and its two-hundred day moving average is $10.51. The stock has a market capitalization of $1.12 billion and a price-to-earnings ratio of -5.99. WEBTOON Entertainment has a 52 week low of $6.75 and a 52 week high of $25.66.

Insider Transactions at WEBTOON Entertainment

In other WEBTOON Entertainment news, insider Junkoo Kim purchased 11,372 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $8.73 per share, with a total value of $99,277.56. Following the completion of the purchase, the insider now directly owns 498,812 shares of the company's stock, valued at $4,354,628.76. The trade was a 2.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.45% of the company's stock.

Institutional Trading of WEBTOON Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in WEBTOON Entertainment in the first quarter worth $619,000. Optimize Financial Inc purchased a new stake in WEBTOON Entertainment in the first quarter worth $1,132,000. Dynamic Technology Lab Private Ltd purchased a new position in WEBTOON Entertainment during the first quarter valued at $129,000. Jacobs Levy Equity Management Inc. purchased a new position in WEBTOON Entertainment during the first quarter valued at $228,000. Finally, Walleye Capital LLC purchased a new position in WEBTOON Entertainment during the first quarter valued at $488,000.

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.