Deutsche Bank Aktiengesellschaft Lowers WEBTOON Entertainment (NASDAQ:WBTN) Price Target to $16.00

WEBTOON Entertainment (NASDAQ:WBTN) had its price target decreased by equities research analysts at Deutsche Bank Aktiengesellschaft from $18.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 39.74% from the stock’s previous close.

WBTN has been the topic of a number of other reports. Morgan Stanley decreased their target price on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. HSBC initiated coverage on WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. started 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. Evercore ISI lowered their price target on shares of WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, The Goldman Sachs Group reduced their price objective on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $26.83.

WEBTOON Entertainment Trading Up 1.7 %

NASDAQ WBTN opened at $11.45 on Tuesday. WEBTOON Entertainment has a 1-year low of $10.22 and a 1-year high of $25.66. The company’s fifty day moving average price is $11.32.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.92. The firm had revenue of $320.97 million during the quarter, compared to analysts’ expectations of $340.72 million. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, analysts forecast that WEBTOON Entertainment will post -1.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Namsun Kim acquired 7,195 shares of WEBTOON Entertainment 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 transaction, the director now directly owns 7,195 shares of the company’s stock, valued at $100,010.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, insider Junkoo Kim acquired 18,935 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of $12.74 per share, with a total value of $241,231.90. Following the completion of the purchase, the insider now directly owns 924,005 shares in the company, valued at $11,771,823.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Namsun Kim purchased 7,195 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $13.90 per share, for a total transaction of $100,010.50. Following the purchase, the director now owns 7,195 shares of the company’s stock, valued at approximately $100,010.50. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 56,526 shares of company stock valued at $710,459.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new stake in shares of WEBTOON Entertainment during the second quarter valued at about $32,145,000. Ghisallo Capital Management LLC bought a new position in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $2,055,000. Hood River Capital Management LLC purchased a new stake in WEBTOON Entertainment during the second quarter valued at approximately $10,352,000. WINTON GROUP Ltd acquired a new stake in WEBTOON Entertainment in the second quarter valued at approximately $413,000. Finally, Sandia Investment Management LP purchased a new position in WEBTOON Entertainment in the second quarter worth $114,000.

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.