JPMorgan Chase & Co. Has Lowered Expectations for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTN) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $12.00 to $10.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.29% from the company’s current price.

A number of other equities research analysts have also issued reports on WBTN. The Goldman Sachs Group reduced their price target on WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley lowered their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.33.

WEBTOON Entertainment Trading Up 1.9 %

Shares of WEBTOON Entertainment stock opened at $9.15 on Wednesday. The stock has a 50 day moving average of $12.40 and a 200 day moving average of $12.03. WEBTOON Entertainment has a fifty-two week low of $8.97 and a fifty-two week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The firm had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. Research analysts predict that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of WBTN. FMR LLC boosted its stake in WEBTOON Entertainment by 45.0% in the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after acquiring an additional 1,905,231 shares in the last quarter. Norges Bank purchased a new position in WEBTOON Entertainment during the 4th quarter worth approximately $11,862,000. Barclays PLC grew its stake in WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after buying an additional 488,779 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in WEBTOON Entertainment during the fourth quarter worth approximately $5,033,000. Finally, Potrero Capital Research LLC purchased a new stake in WEBTOON Entertainment in the third quarter valued at approximately $4,176,000.

WEBTOON Entertainment Company Profile

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.