WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock Has Consensus Price Target of $10.88

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has earned an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.88.

Several research firms have recently commented on WBTN. Evercore reissued an “outperform” rating and issued a $12.00 price objective on shares of WEBTOON Entertainment in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Thursday, October 15th. JPMorgan Chase & Co. reduced their target price on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a report on Monday, August 31st.

Institutional Investors Weigh In On WEBTOON Entertainment

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth about $21,629,000. PCM Encore LLC acquired a new position in WEBTOON Entertainment in the second quarter valued at approximately $543,000. Bank of New York Mellon Corp acquired a new position in WEBTOON Entertainment in the second quarter valued at approximately $543,000. Bank of America Corp DE acquired a new position in WEBTOON Entertainment in the second quarter valued at approximately $470,000. Finally, GSA Capital Partners LLP purchased a new position in WEBTOON Entertainment in the second quarter valued at approximately $254,000.

WEBTOON Entertainment Trading Down 3.5%

NASDAQ WBTN opened at $9.50 on Tuesday. WEBTOON Entertainment has a 52 week low of $7.85 and a 52 week high of $18.93. The business’s fifty day simple moving average is $10.03 and its 200-day simple moving average is $10.81.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings data on Monday, August 10th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.11. WEBTOON Entertainment had a positive return on equity of 2.10% and a negative net margin of 25.09%. The firm had revenue of $338.47 million for the quarter, compared to analysts’ expectations of $339.89 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that WEBTOON Entertainment will post -0.12 EPS for the current fiscal year.

About WEBTOON Entertainment

WEBTOON Entertainment Inc (NASDAQ: WBTN) is a global entertainment company that operates digital storytelling platforms for webcomics and web novels. Its flagship WEBTOON platform allows creators to publish serialized comics and enables readers to access content through mobile and online services. The company generates revenue through paid content, advertising and other creator- and consumer-focused offerings.

The company’s portfolio includes WEBTOON, Wattpad and Wattpad WEBTOON Studios, which develop and distribute original stories across digital publishing and entertainment formats.