WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $21.67 Consensus Target Price from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been given an average rating of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $17.33.

A number of research firms have commented on WBTN. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in shares of WEBTOON Entertainment by 1,312.2% in the 4th quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock worth $3,054,000 after acquiring an additional 208,962 shares during the period. Deutsche Bank AG acquired a new stake in shares of WEBTOON Entertainment in the 4th quarter worth about $54,000. D. E. Shaw & Co. Inc. increased its holdings in shares of WEBTOON Entertainment by 69.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock worth $398,000 after acquiring an additional 11,954 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of WEBTOON Entertainment in the 4th quarter worth about $5,033,000. Finally, Northern Trust Corp increased its holdings in shares of WEBTOON Entertainment by 6.8% in the 4th quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock worth $1,742,000 after acquiring an additional 8,190 shares during the period.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $9.07 on Wednesday. WEBTOON Entertainment has a 12 month low of $8.68 and a 12 month high of $25.66. The company has a market capitalization of $1.16 billion and a price-to-earnings ratio of 19.72. The company’s fifty day moving average price is $12.14 and its two-hundred day moving average price is $11.95.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to analysts’ expectations of $351.00 million. As a group, analysts anticipate that WEBTOON Entertainment will post -0.26 EPS for the current year.

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.