WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock Has Average Price Target of $10.88

Key Points

• Analysts rate WEBTOON Entertainment “Hold” on average: Five of seven brokerages recommend holding the stock, while the average 12-month price target is $10.88—roughly in line with its $10.90 trading price.
• Recent analyst views remain mixed, ranging from sell ratings by Wall Street Zen and Weiss Ratings to Evercore’s “outperform” rating with a $12 target; JPMorgan lowered its target to $10 and kept a neutral rating.
• The company beat quarterly EPS expectations by reporting $0.04 versus the anticipated loss of $0.07, but revenue declined 2.8% year over year to $338.47 million and WEBTOON remains unprofitable, with a 25.09% negative net margin.

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) has been given an average rating of "Hold" by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.88.

WBTN has been the topic of several recent analyst reports. Wall Street Zen raised WEBTOON Entertainment from a "strong sell" rating to a "sell" rating in a research report on Monday, August 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of WEBTOON Entertainment in a research report on Friday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Finally, Evercore reaffirmed an "outperform" rating and set a $12.00 target price on shares of WEBTOON Entertainment in a research report on Tuesday, August 11th.

Institutional Trading of WEBTOON Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of WBTN. BlackRock Inc. bought a new position in WEBTOON Entertainment in the second quarter worth $21,629,000. Brandywine Global Investment Management LLC bought a new stake in WEBTOON Entertainment in the 4th quarter valued at $3,903,000. Bank of New York Mellon Corp bought a new stake in WEBTOON Entertainment in the 2nd quarter valued at $543,000. PCM Encore LLC acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at $543,000. Finally, Bank of America Corp DE acquired a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at $470,000.

WEBTOON Entertainment Trading Up 1.5%

NASDAQ:WBTN opened at $10.90 on Friday. The firm has a market capitalization of $1.48 billion, a PE ratio of -4.14 and a beta of 2.62. WEBTOON Entertainment has a 1 year low of $7.85 and a 1 year high of $20.07. The firm's fifty day simple moving average is $9.70 and its 200 day simple moving average is $10.68.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $338.47 million during the quarter, compared to analysts' expectations of $339.89 million. During the same period in the prior year, the company earned $0.07 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that WEBTOON Entertainment will post -0.12 EPS for the current fiscal year.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc is a global entertainment company that operates digital storytelling platforms for webcomics, web novels and other serialized content. Its flagship WEBTOON platform connects creators with readers through mobile and online services, offering content across genres such as romance, fantasy, drama, action and comedy.

The company's business includes digital content distribution, advertising and paid content, as well as the development and licensing of intellectual property.

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