WEBTOON Entertainment (NASDAQ:WBTN) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of WEBTOON Entertainment (NASDAQ:WBTN) from a sell rating to a strong sell rating in a research note issued to investors on Sunday morning.

A number of other research firms have also weighed in on WBTN. JPMorgan Chase & Co. reduced their target price on WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $12.00 target price on shares of WEBTOON Entertainment in a research note on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WEBTOON Entertainment in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, WEBTOON Entertainment currently has an average rating of “Hold” and an average price target of $13.70.

WEBTOON Entertainment Stock Performance

Shares of NASDAQ WBTN opened at $8.80 on Friday. The business’s 50 day moving average price is $10.23 and its 200-day moving average price is $10.79. WEBTOON Entertainment has a fifty-two week low of $7.85 and a fifty-two week high of $22.47. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -3.35 and a beta of 2.56.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $339.89 million. During the same period last year, the company earned $0.07 EPS. WEBTOON Entertainment’s quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts predict that WEBTOON Entertainment will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE purchased a new position in WEBTOON Entertainment during the 2nd quarter worth $470,000. The Manufacturers Life Insurance Company bought a new stake in WEBTOON Entertainment during the 2nd quarter valued at $117,000. Ieq Capital LLC purchased a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $149,000. PCM Encore LLC purchased a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $543,000. Finally, BlackRock Inc. purchased a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth $21,629,000.

About WEBTOON Entertainment

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.