WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.67.

WBTN has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

WEBTOON Entertainment Trading Down 19.3 %

Shares of NASDAQ:WBTN opened at $10.89 on Friday. WEBTOON Entertainment has a 52-week low of $10.05 and a 52-week high of $25.66. The company has a 50-day simple moving average of $13.12 and a 200 day simple moving average of $13.07.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.70. The business had revenue of $347.92 million during the quarter, compared to analyst estimates of $336.43 million. On average, equities research analysts anticipate that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of WEBTOON Entertainment during the 3rd quarter worth approximately $45,000. New York State Common Retirement Fund acquired a new stake in WEBTOON Entertainment during the fourth quarter worth approximately $60,000. JPMorgan Chase & Co. bought a new position in WEBTOON Entertainment during the 3rd quarter worth $75,000. MetLife Investment Management LLC acquired a new position in WEBTOON Entertainment in the 3rd quarter valued at $107,000. Finally, Rhumbline Advisers lifted its position in shares of WEBTOON Entertainment by 24.4% during the 4th quarter. Rhumbline Advisers now owns 21,423 shares of the company’s stock valued at $291,000 after acquiring an additional 4,206 shares during the period.

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.