WEBTOON Entertainment (NASDAQ:WBTN) Price Target Cut to $9.00 by Analysts at JPMorgan Chase & Co.

WEBTOON Entertainment (NASDAQ:WBTN) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $10.00 to $9.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.59% from the company’s current price.

A number of other research firms also recently commented on WBTN. The Goldman Sachs Group decreased their price objective on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley decreased their price target on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEBTOON Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

WEBTOON Entertainment Trading Down 2.4 %

Shares of WEBTOON Entertainment stock traded down $0.18 during trading hours on Tuesday, hitting $7.28. 80,666 shares of the company were exchanged, compared to its average volume of 440,991. The stock has a market capitalization of $938.39 million and a price-to-earnings ratio of 15.79. The business has a 50-day moving average of $9.85 and a 200-day moving average of $11.31. WEBTOON Entertainment has a 1 year low of $6.75 and a 1 year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million for the quarter, compared to analysts’ expectations of $351.00 million. As a group, research analysts anticipate that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at WEBTOON Entertainment

In related news, insider Junkoo Kim purchased 11,372 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $8.73 per share, with a total value of $99,277.56. Following the completion of the purchase, the insider now directly owns 498,812 shares in the company, valued at approximately $4,354,628.76. This trade represents a 2.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Trading of WEBTOON Entertainment

Several institutional investors have recently made changes to their positions in WBTN. FMR LLC boosted its holdings in WEBTOON Entertainment by 30.9% in the fourth quarter. FMR LLC now owns 8,034,524 shares of the company’s stock valued at $109,109,000 after acquiring an additional 1,897,659 shares during the last quarter. Norges Bank acquired a new stake in WEBTOON Entertainment during the 4th quarter worth approximately $11,862,000. Barclays PLC lifted its position in WEBTOON Entertainment by 1,404.1% during the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after buying an additional 488,779 shares in the last quarter. Geode Capital Management LLC lifted its position in WEBTOON Entertainment by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 414,886 shares of the company’s stock valued at $5,635,000 after buying an additional 2,755 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in WEBTOON Entertainment during the fourth quarter worth approximately $5,033,000.

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.