WEBTOON Entertainment (NASDAQ:WBTN) Stock Rating Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded WEBTOON Entertainment from “sell” to “hold.” The broader analyst consensus is also “hold,” with an average price target of $10.88.
• WEBTOON reported quarterly EPS of $0.02, beating estimates of a $0.07 loss, but revenue of $362.77 million fell short of the $373.75 million consensus.
• The stock opened at $9.85, down 2.3%, and traded below its 50-day and 200-day moving averages.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on WBTN. Weiss Ratings reiterated a "sell (d-)" rating on shares of WEBTOON Entertainment in a research report on Thursday, October 15th. JPMorgan Chase & Co. reduced their price objective on 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, Evercore restated an "outperform" rating and set a $12.00 price objective on shares of WEBTOON Entertainment in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, WEBTOON Entertainment currently has a consensus rating of "Hold" and an average price target of $10.88.

WEBTOON Entertainment Trading Down 2.3%

WBTN opened at $9.85 on Friday. The company's 50-day moving average price is $10.04 and its 200 day moving average price is $10.59. WEBTOON Entertainment has a fifty-two week low of $7.85 and a fifty-two week high of $14.61.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its earnings results on Monday, November 9th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.09. WEBTOON Entertainment had a positive return on equity of 1.71% and a negative net margin of 25.18%. The company had revenue of $362.77 million during the quarter, compared to the consensus estimate of $373.75 million. Equities analysts expect that WEBTOON Entertainment will post -0.12 EPS for the current fiscal year.

Institutional Trading of WEBTOON Entertainment

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in WEBTOON Entertainment in the 2nd quarter worth about $21,629,000. Bank of New York Mellon Corp bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $543,000. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $237,000. State of Alaska Department of Revenue raised its holdings in shares of WEBTOON Entertainment by 135.0% during the third quarter. State of Alaska Department of Revenue now owns 6,760 shares of the company's stock valued at $72,000 after buying an additional 3,883 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of WEBTOON Entertainment during the second quarter worth approximately $244,000.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment operates a digital storytelling platform where readers can access comics, webtoons and related content on mobile devices and the web. Its services connect readers with independent creators and professional publishers, and include platforms such as WEBTOON and Wattpad. The company's business includes paid content and advertising, as well as developing and licensing story properties for adaptations across formats such as television, film and games. Its entertainment properties have been adapted and distributed through its studios and industry partners.

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