WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock Has Average Price Target of $10.88 According to Brokerages

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $10.88.

A number of research analysts recently commented on WBTN shares. Wall Street Zen raised shares of WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a research report on Monday, August 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research report on Friday, July 17th. Evercore reissued an “outperform” rating and set a $12.00 target price on shares of WEBTOON Entertainment in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th.

WEBTOON Entertainment Trading Up 0.6%

Shares of NASDAQ WBTN opened at $10.86 on Friday. WEBTOON Entertainment has a one year low of $7.85 and a one year high of $19.01. The firm has a market capitalization of $1.47 billion, a PE ratio of -4.13 and a beta of 2.57. The business has a 50-day moving average price of $9.81 and a two-hundred day moving average price of $10.73.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its earnings results on Monday, August 10th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.11. The company had revenue of $338.47 million for the quarter, compared to the consensus estimate of $339.89 million. WEBTOON Entertainment had a positive return on equity of 2.10% and a negative net margin of 25.09%.The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Research analysts anticipate that WEBTOON Entertainment will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WBTN. Rockefeller Capital Management L.P. purchased a new stake in shares of WEBTOON Entertainment during the 4th quarter worth about $27,000. Parallel Advisors LLC grew its stake in shares of WEBTOON Entertainment by 620.4% in the 1st quarter. Parallel Advisors LLC now owns 4,445 shares of the company’s stock valued at $41,000 after buying an additional 3,828 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in WEBTOON Entertainment by 13.3% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 8,500 shares of the company’s stock worth $78,000 after buying an additional 1,000 shares during the last quarter. Abel Hall LLC acquired a new position in WEBTOON Entertainment in the first quarter worth approximately $110,000. Finally, The Manufacturers Life Insurance Company bought a new position in WEBTOON Entertainment during the second quarter valued at approximately $117,000.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc is a global digital entertainment company that operates platforms for webcomics, web novels and other serialized storytelling content. Its flagship WEBTOON platform connects creators with readers through mobile and online services, offering a broad catalog of original and user-generated series across genres such as romance, fantasy, drama, action and comedy.

The company’s business includes digital content distribution, advertising, paid content and intellectual-property licensing.