WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $26.83 Average Target Price from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.83.

WBTN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. HSBC began coverage on shares of WEBTOON Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price objective for the company.

Hedge Funds Weigh In On WEBTOON Entertainment

Several large investors have recently modified their holdings of the business. FMR LLC raised its holdings in WEBTOON Entertainment by 45.0% in the 3rd quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after buying an additional 1,905,231 shares during the period. Federated Hermes Inc. purchased a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $32,145,000. Millennium Management LLC acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter worth approximately $18,346,000. Barclays PLC lifted its holdings in shares of WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after acquiring an additional 488,779 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $10,352,000.

WEBTOON Entertainment Stock Down 3.8 %

NASDAQ:WBTN opened at $12.74 on Friday. WEBTOON Entertainment has a one year low of $10.05 and a one year high of $25.66. The firm has a 50 day moving average of $11.62.

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.