WEBTOON Entertainment (NASDAQ:WBTN) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective cut by The Goldman Sachs Group from $48.00 to $25.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on WBTN. Deutsche Bank Aktiengesellschaft cut their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lowered their target price on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.67.

WEBTOON Entertainment Stock Performance

WEBTOON Entertainment stock opened at $12.94 on Monday. The firm’s 50 day moving average price is $12.95 and its two-hundred day moving average price is $13.33. WEBTOON Entertainment has a 1 year low of $10.05 and a 1 year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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. Equities research analysts forecast that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of WEBTOON Entertainment in the third quarter worth $45,000. JPMorgan Chase & Co. acquired a new position in shares of WEBTOON Entertainment during the 3rd quarter worth about $75,000. MetLife Investment Management LLC bought a new stake in WEBTOON Entertainment during the 3rd quarter valued at approximately $107,000. Verition Fund Management LLC acquired a new stake in WEBTOON Entertainment in the 3rd quarter valued at approximately $261,000. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of WEBTOON Entertainment during the fourth quarter worth approximately $306,000.

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.