WEBTOON Entertainment Inc. (WBTN) – What Are Brokerages Saying About This Stock?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $10.88.

WBTN has been the topic of several research analyst reports. Wall Street Zen raised WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a research note on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Thursday, October 15th. Evercore reaffirmed an “outperform” rating and set a $12.00 price objective on shares of WEBTOON Entertainment in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. decreased their target price on WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th.

WEBTOON Entertainment Stock Down 3.1%

NASDAQ:WBTN opened at $9.16 on Tuesday. WEBTOON Entertainment has a fifty-two week low of $7.85 and a fifty-two week high of $18.93. The firm’s fifty day simple moving average is $10.02 and its 200-day simple moving average is $10.88.

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

Hedge Funds Weigh In On WEBTOON Entertainment

A number of institutional investors have recently made changes to their positions in WBTN. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of WEBTOON Entertainment by 13.3% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 8,500 shares of the company’s stock valued at $78,000 after buying an additional 1,000 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of WEBTOON Entertainment in the fourth quarter valued at approximately $27,000. Parallel Advisors LLC boosted its holdings in shares of WEBTOON Entertainment by 620.4% in the first quarter. Parallel Advisors LLC now owns 4,445 shares of the company’s stock valued at $41,000 after acquiring an additional 3,828 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of WEBTOON Entertainment by 135.0% during the third quarter. State of Alaska Department of Revenue now owns 6,760 shares of the company’s stock valued at $72,000 after acquiring an additional 3,883 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of WEBTOON Entertainment during the second quarter valued at approximately $117,000.

WEBTOON Entertainment Company Profile

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.