WEBTOON Entertainment (NASDAQ:WBTN) Price Target Lowered to $10.00 at JPMorgan Chase & Co.

WEBTOON Entertainment (NASDAQ:WBTN) had its target price reduced by JPMorgan Chase & Co. from $12.00 to $10.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

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

WEBTOON Entertainment Trading Down 10.5 %

NASDAQ WBTN opened at $8.98 on Wednesday. WEBTOON Entertainment has a one year low of $8.97 and a one year high of $25.66. The business’s fifty day moving average is $12.47 and its 200-day moving average is $12.05.

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

Institutional Investors Weigh In On WEBTOON Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in WEBTOON Entertainment in the 3rd quarter valued at about $45,000. Deutsche Bank AG purchased a new position in WEBTOON Entertainment during the 4th quarter valued at about $54,000. New York State Common Retirement Fund purchased a new position in WEBTOON Entertainment during the 4th quarter valued at about $60,000. JPMorgan Chase & Co. purchased a new position in WEBTOON Entertainment during the 3rd quarter valued at about $75,000. Finally, MetLife Investment Management LLC purchased a new position in WEBTOON Entertainment during the 3rd quarter valued at about $107,000.

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.