WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts’ consensus rating is “Hold”: Of six firms covering WEBTOON, four rate it Hold, one Sell and one Buy. The average 1-year price target is $10.88; JPMorgan cut its target to $10, while Evercore’s target is $12.
• Quarterly results beat on earnings but missed on revenue: WEBTOON reported EPS of $0.02, above the consensus estimate of a $0.07 loss, while revenue of $362.77 million fell short of the $373.75 million estimate.
• Shares opened at $9.85, within a 12-month range of $7.85 to $14.61. Several large investors, including BlackRock, established new positions during the second quarter.

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) has been assigned an average recommendation of "Hold" from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four 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 updated their coverage on the stock in the last year is $10.88.

Several brokerages recently weighed in on WBTN. JPMorgan Chase & Co. lowered their price objective on 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 report on Thursday, October 15th. Evercore reiterated an "outperform" rating and issued a $12.00 target price on shares of WEBTOON Entertainment in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded WEBTOON Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday.

Hedge Funds Weigh In On WEBTOON Entertainment

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in WEBTOON Entertainment during the second quarter valued at $21,629,000. PCM Encore LLC acquired a new stake in shares of WEBTOON Entertainment during the second quarter worth $543,000. Bank of New York Mellon Corp acquired a new stake in shares of WEBTOON Entertainment during the second quarter worth $543,000. Bank of America Corp DE bought a new position in shares of WEBTOON Entertainment in the 2nd quarter worth about $470,000. Finally, GSA Capital Partners LLP bought a new position in shares of WEBTOON Entertainment in the 2nd quarter worth about $254,000.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $9.85 on Friday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.79 and a beta of 2.65. WEBTOON Entertainment has a 12 month low of $7.85 and a 12 month high of $14.61. The company's fifty day moving average price is $10.04 and its two-hundred day moving average price is $10.59.

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

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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