WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.33.

Several research analysts recently issued reports on WBTN shares. The Goldman Sachs Group dropped their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley dropped their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th.

Institutional Trading of WEBTOON Entertainment

Several hedge funds have recently modified their holdings of WBTN. FMR LLC grew its stake in shares of WEBTOON Entertainment by 45.0% during the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock valued at $70,206,000 after purchasing an additional 1,905,231 shares during the last quarter. Norges Bank bought a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at approximately $11,862,000. Barclays PLC grew its stake in shares of WEBTOON Entertainment by 1,404.1% during the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after purchasing an additional 488,779 shares during the last quarter. Ameriprise Financial Inc. bought a new position in WEBTOON Entertainment in the fourth quarter valued at approximately $5,033,000. Finally, Potrero Capital Research LLC bought a new position in WEBTOON Entertainment in the third quarter valued at approximately $4,176,000.

WEBTOON Entertainment Stock Down 1.2 %

NASDAQ:WBTN opened at $9.04 on Wednesday. WEBTOON Entertainment has a 12-month low of $8.75 and a 12-month high of $25.66. The firm has a market capitalization of $1.16 billion and a PE ratio of 19.65. The firm has a 50-day moving average price of $12.32 and a 200 day moving average price of $12.00.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million for the quarter, compared to analysts’ expectations of $351.00 million. On average, research analysts expect that WEBTOON Entertainment will post -0.26 EPS for the current year.

About WEBTOON Entertainment

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.