WEBTOON Entertainment (NASDAQ:WBTN) Research Coverage Started at HSBC

HSBC began coverage on shares of WEBTOON Entertainment (NASDAQ:WBTN) in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $23.00 target price on the stock.

Several other analysts also recently commented on the company. Morgan Stanley lowered their price objective on WEBTOON Entertainment from $23.00 to $17.00 and set an equal weight rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. initiated coverage on WEBTOON Entertainment in a research note on Monday, July 22nd. They set a neutral rating and a $23.00 price objective on the stock. Evercore ISI cut their price objective 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. The Goldman Sachs Group lowered their target price on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a buy rating for the company in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a buy rating for the company in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $27.17.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $12.17 on Wednesday. The company has a fifty day simple moving average of $16.88. WEBTOON Entertainment has a 12-month low of $11.15 and a 12-month high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million for the quarter, compared to analyst estimates of $340.72 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts expect that WEBTOON Entertainment will post -1.3 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Yongsoo Kim acquired 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $12.92 per share, for a total transaction of $100,776.00. Following the completion of the acquisition, the insider now owns 110,910 shares of the company’s stock, valued at approximately $1,432,957.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Yongsoo Kim acquired 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $12.92 per share, for a total transaction of $100,776.00. Following the completion of the purchase, the insider now owns 110,910 shares in the company, valued at $1,432,957.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Junkoo Kim bought 22,596 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $11.88 per share, with a total value of $268,440.48. Following the completion of the transaction, the insider now directly owns 905,070 shares of the company’s stock, valued at $10,752,231.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 56,526 shares of company stock valued at $710,459.

Institutional Investors Weigh In On WEBTOON Entertainment

Several institutional investors have recently added to or reduced their stakes in WBTN. Millennium Management LLC purchased a new position in shares of WEBTOON Entertainment in the second quarter worth about $18,346,000. Marshall Wace LLP purchased a new position in WEBTOON Entertainment in the 2nd quarter valued at approximately $1,516,000. Squarepoint Ops LLC bought a new stake in WEBTOON Entertainment during the 2nd quarter valued at $1,256,000. Point72 Asset Management L.P. purchased a new stake in shares of WEBTOON Entertainment during the second quarter worth $816,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of WEBTOON Entertainment in the second quarter worth $2,055,000.

WEBTOON Entertainment Company Profile

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.