WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock Has Average Price Target of $10.88 According to Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $10.88.

A number of brokerages have weighed in on WBTN. Wall Street Zen upgraded WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a report on Monday, August 31st. Evercore restated an “outperform” rating and set a $12.00 price target on shares of WEBTOON Entertainment in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research report on Friday, July 17th.

Hedge Funds Weigh In On WEBTOON Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in WBTN. Sequoia Financial Advisors LLC bought a new stake in WEBTOON Entertainment in the 2nd quarter valued at about $244,000. Bank of America Corp DE bought a new position in WEBTOON Entertainment in the second quarter worth approximately $470,000. The Manufacturers Life Insurance Company acquired a new stake in WEBTOON Entertainment in the second quarter valued at approximately $117,000. Ieq Capital LLC acquired a new stake in WEBTOON Entertainment in the second quarter valued at approximately $149,000. Finally, PCM Encore LLC bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $543,000.

WEBTOON Entertainment Price Performance

Shares of WBTN stock opened at $10.97 on Friday. The business’s 50 day simple moving average is $9.75 and its 200 day simple moving average is $10.71. WEBTOON Entertainment has a one year low of $7.85 and a one year high of $19.60. The stock has a market capitalization of $1.49 billion, a PE ratio of -4.17 and a beta of 2.62.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Monday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.11. The firm had revenue of $338.47 million during the quarter, compared to analyst estimates of $339.89 million. WEBTOON Entertainment had a negative net margin of 25.09% and a positive return on equity of 2.10%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. As a group, research analysts expect that WEBTOON Entertainment will post -0.12 earnings per share for the current year.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc is a global entertainment company that operates digital storytelling platforms for webcomics, web novels and other serialized content. Its flagship WEBTOON platform connects creators with readers through mobile and online services, offering content across genres such as romance, fantasy, drama, action and comedy.

The company’s business includes digital content distribution, advertising and paid content, as well as the development and licensing of intellectual property.