WEBTOON Entertainment (NASDAQ:WBTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of WEBTOON Entertainment (NASDAQ:WBTN) from a strong sell rating to a hold rating in a report published on Saturday morning.

Other analysts have also issued research reports about the company. Citigroup assumed coverage on WEBTOON Entertainment in a report on Thursday, May 15th. They issued a “buy” rating and a $11.00 price objective for the company. Evercore ISI lifted their price objective on WEBTOON Entertainment from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. The Goldman Sachs Group boosted their price target on WEBTOON Entertainment from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Finally, Morgan Stanley boosted their price target on WEBTOON Entertainment from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.43.

WEBTOON Entertainment Price Performance

Shares of WBTN opened at $15.30 on Friday. WEBTOON Entertainment has a one year low of $6.75 and a one year high of $18.45. The firm has a market capitalization of $2.00 billion, a P/E ratio of -19.87 and a beta of 1.12. The business has a fifty day moving average of $9.80 and a 200 day moving average of $9.38.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. WEBTOON Entertainment had a negative return on equity of 0.13% and a negative net margin of 7.24%. The company had revenue of $348.27 million during the quarter, compared to analyst estimates of $341.63 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. WEBTOON Entertainment’s revenue was up 8.5% compared to the same quarter last year. Analysts expect that WEBTOON Entertainment will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On WEBTOON Entertainment

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its stake in shares of WEBTOON Entertainment by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 865,698 shares of the company’s stock worth $7,861,000 after acquiring an additional 36,175 shares during the period. Bank of America Corp DE boosted its stake in shares of WEBTOON Entertainment by 966.9% in the second quarter. Bank of America Corp DE now owns 823,708 shares of the company’s stock worth $7,479,000 after acquiring an additional 746,505 shares during the period. Geode Capital Management LLC boosted its stake in shares of WEBTOON Entertainment by 12.3% in the second quarter. Geode Capital Management LLC now owns 505,892 shares of the company’s stock worth $4,594,000 after acquiring an additional 55,434 shares during the period. Millennium Management LLC boosted its stake in shares of WEBTOON Entertainment by 1,312.2% in the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock worth $3,054,000 after acquiring an additional 208,962 shares during the period. Finally, Optimize Financial Inc bought a new position in shares of WEBTOON Entertainment in the first quarter worth about $1,132,000.

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.