WEBTOON Entertainment Inc. (NASDAQ:WBTN – Get Free Report) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.17.
WBTN has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of WEBTOON Entertainment from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. began coverage on WEBTOON Entertainment in a report on Monday, July 22nd. They set a “neutral” rating and a $23.00 price target for the company. Evercore ISI dropped their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, The Goldman Sachs Group decreased their target price on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 12th.
View Our Latest Analysis on WEBTOON Entertainment
Insider Buying and Selling at WEBTOON Entertainment
Institutional Investors Weigh In On WEBTOON Entertainment
A number of institutional investors and hedge funds have recently made changes to their positions in WBTN. Federated Hermes Inc. purchased a new stake in WEBTOON Entertainment in the 2nd quarter valued at $32,145,000. Millennium Management LLC bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $18,346,000. Hood River Capital Management LLC purchased a new stake in shares of WEBTOON Entertainment in the second quarter valued at about $10,352,000. Ghisallo Capital Management LLC bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $2,055,000. Finally, Davidson Kempner Capital Management LP bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $1,610,000.
WEBTOON Entertainment Stock Performance
WBTN opened at $11.28 on Thursday. WEBTOON Entertainment has a fifty-two week low of $10.22 and a fifty-two week high of $25.66. The stock’s 50 day simple moving average is $11.78.
WEBTOON Entertainment (NASDAQ:WBTN – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.92. The business had revenue of $320.97 million for the quarter, compared to analyst estimates of $340.72 million. WEBTOON Entertainment’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. Equities research analysts forecast that WEBTOON Entertainment will post -1.3 EPS for the current fiscal 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.
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