WEBTOON Entertainment (NASDAQ:WBTN) Price Target Lowered to $18.00 at Deutsche Bank Aktiengesellschaft

WEBTOON Entertainment (NASDAQ:WBTN) had its price target reduced by Deutsche Bank Aktiengesellschaft from $25.00 to $18.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Evercore ISI decreased their target price on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an outperform rating on the stock in a research report on Monday. The Goldman Sachs Group lowered their price objective on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a buy rating for the company in a research report on Monday. JPMorgan Chase & Co. began coverage on WEBTOON Entertainment in a research note on Monday, July 22nd. They set a neutral rating and a $23.00 price target on the stock. Finally, Morgan Stanley initiated coverage on WEBTOON Entertainment in a research report on Monday, July 22nd. They set an equal weight rating and a $23.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $29.20.

WEBTOON Entertainment Trading Down 1.9 %

WBTN stock opened at $12.37 on Monday. WEBTOON Entertainment has a one year low of $11.15 and a one year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million during the quarter, compared to analysts’ expectations of $340.72 million. WEBTOON Entertainment’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. As a group, equities analysts expect that WEBTOON Entertainment will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEBTOON Entertainment news, insider Yongsoo Kim purchased 7,800 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $12.92 per share, with a total value of $100,776.00. Following the transaction, the insider now directly owns 110,910 shares of the company’s stock, valued at approximately $1,432,957.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at $114,000. WINTON GROUP Ltd purchased a new position in WEBTOON Entertainment in the second quarter valued at $413,000. Squarepoint Ops LLC acquired a new stake in WEBTOON Entertainment in the second quarter valued at $1,256,000. Marshall Wace LLP purchased a new stake in WEBTOON Entertainment during the 2nd quarter worth about $1,516,000. Finally, Point72 DIFC Ltd acquired a new position in shares of WEBTOON Entertainment during the 2nd quarter worth about $1,541,000.

WEBTOON Entertainment Company Profile

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.