WEBTOON Entertainment (NASDAQ:WBTN) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

WEBTOON Entertainment (NASDAQ:WBTN) had its price objective cut by analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.93% from the company’s previous close.

WBTN has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of WEBTOON Entertainment in a report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $12.00 price target on shares of WEBTOON Entertainment in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of WEBTOON Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.25.

WEBTOON Entertainment Price Performance

NASDAQ:WBTN traded down $0.75 during mid-day trading on Tuesday, reaching $8.70. 274,376 shares of the company’s stock traded hands, compared to its average volume of 344,128. WEBTOON Entertainment has a 12-month low of $7.85 and a 12-month high of $22.47. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.42 and a beta of 2.56. The company has a 50 day moving average price of $10.78 and a 200-day moving average price of $11.05.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings data on Monday, August 10th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.11. WEBTOON Entertainment had a positive return on equity of 2.55% and a negative net margin of 24.12%.The business 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 posted $0.07 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that WEBTOON Entertainment will post -0.02 EPS for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Hedge funds have recently made changes to their positions in the company. Brandywine Global Investment Management LLC purchased a new stake in WEBTOON Entertainment in the fourth quarter worth about $3,903,000. Deutsche Bank AG purchased a new position in shares of WEBTOON Entertainment during the second quarter valued at approximately $237,000. Bank of New York Mellon Corp purchased a new position in shares of WEBTOON Entertainment during the second quarter valued at approximately $543,000. GSA Capital Partners LLP bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth approximately $254,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of WEBTOON Entertainment in the 1st quarter worth approximately $145,000.

WEBTOON Entertainment Company Profile

Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.

Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.