WEBTOON Entertainment (NASDAQ:WBTN) Price Target Lowered to $10.50 at Morgan Stanley

WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its target price cut by Morgan Stanley from $13.00 to $10.50 in a research note issued to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

WBTN has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, WEBTOON Entertainment has an average rating of "Moderate Buy" and an average price target of $16.75.

WEBTOON Entertainment Trading Up 0.6 %

Shares of NASDAQ WBTN traded up $0.05 during midday trading on Thursday, reaching $8.67. 175,673 shares of the stock were exchanged, compared to its average volume of 435,429. The stock has a 50 day moving average price of $8.81 and a 200-day moving average price of $11.04. The company has a market capitalization of $1.12 billion and a P/E ratio of 18.85. WEBTOON Entertainment has a 52-week low of $6.75 and a 52-week high of $25.66.

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

Insider Activity

In related 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 acquired at an average price of $8.73 per share, for a total transaction of $99,277.56. Following the completion of the purchase, the insider now owns 498,812 shares in the company, valued at approximately $4,354,628.76. This represents a 2.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On WEBTOON Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of WBTN. BNP Paribas Financial Markets acquired a new position in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $45,000. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at approximately $54,000. New York State Common Retirement Fund bought a new stake in WEBTOON Entertainment during the 4th quarter valued at $60,000. JPMorgan Chase & Co. bought a new position in WEBTOON Entertainment in the 3rd quarter valued at about $75,000. Finally, Wells Fargo & Company MN lifted its position in WEBTOON Entertainment by 37.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,168 shares of the company's stock worth $111,000 after purchasing an additional 2,240 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.