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

WEBTOON Entertainment (NASDAQ:WBTN) had its target price decreased by research analysts at The Goldman Sachs Group from $48.00 to $25.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 94.60% from the stock’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley dropped their target price on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut their price target 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

WEBTOON Entertainment Price Performance

Shares of NASDAQ:WBTN traded down $0.51 during trading on Monday, reaching $12.85. The company had a trading volume of 86,110 shares, compared to its average volume of 201,222. The company has a fifty day moving average of $12.87 and a two-hundred day moving average of $13.43. WEBTOON Entertainment has a 12 month low of $10.05 and a 12 month high of $25.66.

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

Institutional Investors Weigh In On WEBTOON Entertainment

Several hedge funds have recently bought and sold shares of WBTN. Charles Schwab Investment Management Inc. bought a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $1,344,000. State Street Corp bought a new stake in shares of WEBTOON Entertainment during the third quarter valued at approximately $1,560,000. Barclays PLC raised its holdings in WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after acquiring an additional 488,779 shares during the last quarter. Geode Capital Management LLC boosted its stake in WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after purchasing an additional 306,496 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after purchasing an additional 1,905,231 shares in the last quarter.

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.