WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $13.70 Average PT from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been given a consensus rating of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $13.70.

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

Hedge Funds Weigh In On WEBTOON Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in WBTN. California State Teachers Retirement System lifted its holdings in WEBTOON Entertainment by 196.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,878 shares of the company’s stock valued at $33,000 after purchasing an additional 1,907 shares in the last quarter. Bank of America Corp DE acquired a new position in WEBTOON Entertainment in the 2nd quarter valued at about $470,000. The Manufacturers Life Insurance Company acquired a new position in WEBTOON Entertainment in the second quarter valued at approximately $117,000. Ieq Capital LLC purchased a new position in WEBTOON Entertainment during the second quarter worth about $149,000. Finally, PCM Encore LLC purchased a new stake in WEBTOON Entertainment in the second quarter valued at approximately $543,000.

WEBTOON Entertainment Price Performance

NASDAQ:WBTN opened at $9.97 on Monday. WEBTOON Entertainment has a 52 week low of $7.85 and a 52 week high of $22.47. The firm has a 50 day moving average of $9.93 and a 200 day moving average of $10.72. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -3.79 and a beta of 2.62.

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

WEBTOON Entertainment Company Profile

Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.

Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.