WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $13.70 Average Price Target from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $13.70.

A number of research firms recently issued reports on WBTN. Wall Street Zen upgraded shares of WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. reduced their price target on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Friday, July 17th. Finally, Evercore reiterated an “outperform” rating and set a $12.00 price objective on shares of WEBTOON Entertainment in a report on Tuesday, August 11th.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $10.20 on Monday. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.88 and a beta of 2.62. The business has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $10.73. WEBTOON Entertainment has a one year low of $7.85 and a one year high of $22.47.

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, beating the consensus estimate of ($0.07) by $0.11. The firm had revenue of $338.47 million for the quarter, compared to analyst estimates of $339.89 million. WEBTOON Entertainment had a positive return on equity of 2.10% and a negative net margin of 25.09%.The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. Equities analysts expect that WEBTOON Entertainment will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of WEBTOON Entertainment by 196.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,878 shares of the company’s stock worth $33,000 after buying an additional 1,907 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $470,000. The Manufacturers Life Insurance Company bought a new stake in WEBTOON Entertainment during the second quarter worth $117,000. Ieq Capital LLC bought a new stake in WEBTOON Entertainment during the second quarter worth $149,000. Finally, PCM Encore LLC purchased a new position in WEBTOON Entertainment in the second quarter worth $543,000.

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.