WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $26.83 Consensus PT from Brokerages

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.83.

Several research firms have issued reports on WBTN. Morgan Stanley cut their price objective on WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Evercore ISI reduced their price objective on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group reduced their price target on shares of WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, HSBC assumed coverage on shares of WEBTOON Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $23.00 target price for the company.

WEBTOON Entertainment Stock Performance

Shares of WBTN opened at $11.96 on Monday. WEBTOON Entertainment has a 12-month low of $10.05 and a 12-month high of $25.66. The stock has a 50 day simple moving average of $11.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WBTN. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $45,000. Sandia Investment Management LP acquired a new position in shares of WEBTOON Entertainment during the second quarter worth approximately $114,000. MetLife Investment Management LLC acquired a new stake in WEBTOON Entertainment in the third quarter worth about $107,000. WINTON GROUP Ltd bought a new position in WEBTOON Entertainment in the second quarter valued at approximately $413,000. Finally, Verition Fund Management LLC bought a new position in WEBTOON Entertainment during the third quarter worth about $261,000.

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.