The Goldman Sachs Group Has Lowered Expectations for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

WEBTOON Entertainment (NASDAQ:WBTN) had its target price cut by investment analysts at The Goldman Sachs Group from $48.00 to $25.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 94.60% from the stock’s current price.

Other research analysts also recently issued reports about the company. Morgan Stanley dropped their price target 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.67.

WEBTOON Entertainment Stock Down 3.8 %

WEBTOON Entertainment stock traded down $0.51 during mid-day trading on Monday, hitting $12.85. 86,110 shares of the stock were exchanged, compared to its average volume of 201,222. The firm’s fifty day simple moving average is $12.87 and its two-hundred day simple moving average is $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 earnings results on Thursday, November 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.48) by $0.70. The business had revenue of $347.92 million for the quarter, compared to analyst estimates of $336.43 million. Equities analysts predict that WEBTOON Entertainment will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WBTN. BNP Paribas Financial Markets bought a new position in shares of WEBTOON Entertainment during the 3rd quarter valued at approximately $45,000. JPMorgan Chase & Co. purchased a new position in shares of WEBTOON Entertainment during the 3rd quarter valued at $75,000. MetLife Investment Management LLC bought a new position in shares of WEBTOON Entertainment during the 3rd quarter worth $107,000. Verition Fund Management LLC purchased a new stake in WEBTOON Entertainment in the 3rd quarter worth about $261,000. Finally, Point72 Asset Management L.P. purchased a new stake in WEBTOON Entertainment during the second quarter valued at about $816,000.

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.