WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $28.00.

WBTN has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on WEBTOON Entertainment in a research note on Monday, July 22nd. They set a “neutral” rating and a $23.00 target price on the stock. HSBC initiated coverage on WEBTOON Entertainment in a research note on Wednesday. They set a “buy” rating and a $23.00 target price on the stock. Morgan Stanley cut their target price on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Evercore ISI cut their target price on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on WEBTOON Entertainment from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

WEBTOON Entertainment Stock Up 3.6 %

WBTN stock opened at $12.88 on Wednesday. WEBTOON Entertainment has a twelve month low of $11.15 and a twelve month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.92. The company had revenue of $320.97 million for the quarter, compared to the consensus estimate of $340.72 million. During the same period last year, the business earned ($0.01) EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

Insider Transactions at WEBTOON Entertainment

In related news, Director Namsun Kim bought 7,195 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $13.90 per share, with a total value of $100,010.50. Following the acquisition, the director now owns 7,195 shares in the company, valued at $100,010.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Namsun Kim bought 7,195 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $13.90 per share, with a total value of $100,010.50. Following the acquisition, the director now owns 7,195 shares in the company, valued at $100,010.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Yongsoo Kim bought 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $12.92 per share, for a total transaction of $100,776.00. Following the completion of the acquisition, the insider now owns 110,910 shares in the company, valued at approximately $1,432,957.20. The disclosure for this purchase can be found here. Insiders have bought a total of 56,526 shares of company stock worth $710,459 in the last ninety days.

Institutional Investors Weigh In On WEBTOON Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC bought a new stake in shares of WEBTOON Entertainment in the second quarter worth about $18,346,000. Marshall Wace LLP bought a new stake in shares of WEBTOON Entertainment in the second quarter worth about $1,516,000. Squarepoint Ops LLC purchased a new position in WEBTOON Entertainment in the second quarter worth about $1,256,000. Point72 Asset Management L.P. purchased a new position in WEBTOON Entertainment in the second quarter worth about $816,000. Finally, Point72 DIFC Ltd purchased a new position in WEBTOON Entertainment in the second 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.