WEBTOON Entertainment Inc.’s Quiet Period Set To End on August 6th (NASDAQ:WBTN)

WEBTOON Entertainment’s (NASDAQ:WBTN) quiet period will expire on Tuesday, August 6th. WEBTOON Entertainment had issued 15,000,000 shares in its public offering on June 27th. The total size of the offering was $315,000,000 based on an initial share price of $21.00. During WEBTOON Entertainment’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of WEBTOON Entertainment in a report on Monday, July 22nd. They issued a “neutral” rating and a $23.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They set a “buy” rating and a $25.00 target price for the company. Morgan Stanley assumed coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They set an “equal weight” rating and a $23.00 target price for the company. Evercore ISI assumed coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They issued an “outperform” rating and a $30.00 price target for the company. Finally, The Goldman Sachs Group began coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They issued a “buy” rating and a $62.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

WEBTOON Entertainment Stock Down 4.2 %

Shares of NASDAQ:WBTN opened at $19.70 on Friday. WEBTOON Entertainment has a 12-month low of $19.03 and a 12-month high of $25.66.

About WEBTOON Entertainment

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.