WEBTOON Entertainment Inc.’s Quiet Period To End on August 6th (NASDAQ:WBTN)

WEBTOON Entertainment’s (NASDAQ:WBTN) quiet period will end on Tuesday, August 6th. WEBTOON Entertainment had issued 15,000,000 shares in its IPO on June 27th. The total size of the offering was $315,000,000 based on an initial share price of $21.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WBTN. Morgan Stanley assumed coverage on shares of WEBTOON Entertainment in a research note on Monday, July 22nd. They set an “equal weight” rating and a $23.00 price target for the company. Evercore ISI initiated coverage on shares of WEBTOON Entertainment in a research note on Monday, July 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They set a “buy” rating and a $25.00 target price on the stock. The Goldman Sachs Group began coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They issued a “buy” rating and a $62.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They issued a “neutral” rating and a $23.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.60.

WEBTOON Entertainment Stock Performance

Shares of WEBTOON Entertainment stock opened at $19.85 on Tuesday. WEBTOON Entertainment has a 1 year low of $17.52 and a 1 year high of $25.66.

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.