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

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $12.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.21% from the stock’s current price.

Several other analysts have also weighed in on WBTN. Deutsche Bank Aktiengesellschaft cut their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. 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, Morgan Stanley decreased their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

WEBTOON Entertainment Stock Performance

Shares of NASDAQ WBTN traded down $0.62 during mid-day trading on Wednesday, reaching $9.42. 371,542 shares of the company’s stock were exchanged, compared to its average volume of 275,974. The company’s 50-day moving average is $12.53 and its 200-day moving average is $12.07. WEBTOON Entertainment has a 52-week low of $9.00 and a 52-week high of $25.66.

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

Hedge Funds Weigh In On WEBTOON Entertainment

A number of large investors have recently added to or reduced their stakes in WBTN. BNP Paribas Financial Markets acquired a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at about $45,000. Deutsche Bank AG purchased a new position in WEBTOON Entertainment in the fourth quarter valued at $54,000. New York State Common Retirement Fund acquired a new stake in shares of WEBTOON Entertainment during the fourth quarter worth about $60,000. JPMorgan Chase & Co. acquired a new position in shares of WEBTOON Entertainment in the third quarter valued at approximately $75,000. Finally, MetLife Investment Management LLC purchased a new position in WEBTOON Entertainment in the third 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.