WEBTOON Entertainment (NASDAQ:WBTN) Price Target Lowered to $25.00 at The Goldman Sachs Group

WEBTOON Entertainment (NASDAQ:WBTN) had its target price trimmed by The Goldman Sachs Group from $48.00 to $25.00 in a research note released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on WBTN. Deutsche Bank Aktiengesellschaft dropped their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley dropped their price target on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $12.66 on Monday. The company’s fifty day simple moving average is $12.87 and its 200-day simple moving average is $13.43. WEBTOON Entertainment has a 52 week low of $10.05 and a 52 week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.70. The firm had revenue of $347.92 million during the quarter, compared to analyst estimates of $336.43 million. On average, equities research analysts expect that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in WEBTOON Entertainment during the third quarter valued at $45,000. JPMorgan Chase & Co. acquired a new position in shares of WEBTOON Entertainment in the 3rd quarter valued at about $75,000. MetLife Investment Management LLC bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at about $107,000. Verition Fund Management LLC acquired a new stake in WEBTOON Entertainment during the third quarter worth about $261,000. Finally, Point72 Asset Management L.P. bought a new position in WEBTOON Entertainment in the second quarter worth about $816,000.

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.