WEBTOON Entertainment (NASDAQ:WBTN) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of WEBTOON Entertainment (NASDAQ:WBTN) from a strong sell rating to a sell rating in a research note released on Monday,Wall Street Zen reports.

A number of other research analysts have also commented on WBTN. Evercore restated an “outperform” rating and issued a $12.00 price objective on shares of WEBTOON Entertainment in a research note on Tuesday, August 11th. JPMorgan Chase & Co. decreased 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 note on Tuesday, August 11th. Finally, Weiss Ratings reissued 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.70.

WEBTOON Entertainment Trading Up 2.9%

Shares of NASDAQ WBTN opened at $10.54 on Monday. WEBTOON Entertainment has a twelve month low of $7.85 and a twelve month high of $22.47. The stock has a 50 day moving average of $10.02 and a two-hundred day moving average of $10.74. The stock has a market cap of $1.43 billion, a P/E ratio of -4.01 and a beta of 2.56.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its 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 negative net margin of 25.09% and a positive return on equity of 2.10%. The business had revenue of $338.47 million for the quarter, compared to analyst estimates of $339.89 million. During the same period last year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts predict that WEBTOON Entertainment will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC purchased a new position in shares of WEBTOON Entertainment during the 4th quarter worth approximately $3,903,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of WEBTOON Entertainment by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,816 shares of the company’s stock valued at $89,000 after buying an additional 774 shares in the last quarter. Bank of America Corp DE acquired a new position in WEBTOON Entertainment during the second quarter worth $470,000. California State Teachers Retirement System grew its holdings in WEBTOON Entertainment by 196.4% during the second quarter. California State Teachers Retirement System now owns 2,878 shares of the company’s stock worth $33,000 after acquiring an additional 1,907 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in WEBTOON Entertainment in the second quarter worth $543,000.

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.