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

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $10.88.

WBTN has been the subject of a number of analyst reports. Evercore reaffirmed an “outperform” rating and issued a $12.00 price target on shares of WEBTOON Entertainment in a report on Tuesday, August 11th. Wall Street Zen raised shares of WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. dropped their target price 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 reissued a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Friday, July 17th.

WEBTOON Entertainment Stock Performance

WBTN opened at $11.04 on Friday. WEBTOON Entertainment has a fifty-two week low of $7.85 and a fifty-two week high of $20.05. The firm has a 50-day moving average of $9.72 and a 200 day moving average of $10.69. The firm has a market cap of $1.50 billion, a P/E ratio of -4.20 and a beta of 2.62.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new stake in WEBTOON Entertainment during the second quarter valued at about $244,000. Bank of America Corp DE purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter worth about $470,000. The Manufacturers Life Insurance Company purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter worth about $117,000. Ieq Capital LLC purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter worth about $149,000. Finally, PCM Encore LLC bought a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at about $543,000.

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.