Morgan Stanley Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $16.00

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective lowered by investment analysts at Morgan Stanley from $17.50 to $16.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 30.08% from the stock’s previous close.

Separately, Deutsche Bank Aktiengesellschaft decreased their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, WEBTOON Entertainment presently has an average rating of “Moderate Buy” and an average target price of $26.67.

WEBTOON Entertainment Price Performance

NASDAQ WBTN traded down $0.75 on Monday, hitting $12.30. 85,583 shares of the company’s stock were exchanged, compared to its average volume of 237,312. The business has a 50-day moving average price of $12.50. WEBTOON Entertainment has a 52 week low of $10.05 and a 52 week high of $25.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WBTN. JPMorgan Chase & Co. purchased a new stake in shares of WEBTOON Entertainment in the third quarter worth $75,000. Geode Capital Management LLC increased its holdings in WEBTOON Entertainment by 290.1% in the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after acquiring an additional 306,496 shares during the last quarter. Barclays PLC increased its holdings in WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after acquiring an additional 488,779 shares during the last quarter. State Street Corp bought a new stake in WEBTOON Entertainment in the 3rd quarter valued at $1,560,000. Finally, Potrero Capital Research LLC bought a new stake in WEBTOON Entertainment in the 3rd quarter valued at $4,176,000.

About WEBTOON Entertainment

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.