JPMorgan Chase & Co. Issues Pessimistic Forecast for WEBTOON Entertainment (NASDAQ:WBTN) Stock Price

Key Points

• JPMorgan cut WEBTOON Entertainment’s price target from $11 to $10 while maintaining a neutral rating, implying roughly 15% upside from the stock’s $8.70 price.
• Analyst sentiment remains cautious: the stock has an average Hold rating, with a consensus price target of $13.25; ratings include two Buys, six Holds, and one Sell.
• WEBTOON exceeded quarterly EPS expectations at $0.04 versus an estimated loss of $0.07, but revenue fell 2.8% year over year to $338.47 million and the company continues to report a negative net margin.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 14.93% from the stock's current price.

WBTN has been the topic of a number of other reports. Evercore restated an "outperform" rating and issued a $12.00 target price on shares of WEBTOON Entertainment in a research note on Tuesday. Wall Street Zen upgraded WEBTOON Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of WEBTOON Entertainment in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, WEBTOON Entertainment currently has an average rating of "Hold" and a consensus price target of $13.25.

WEBTOON Entertainment Price Performance

NASDAQ:WBTN traded down $0.75 during trading hours on Tuesday, hitting $8.70. The stock had a trading volume of 274,376 shares, compared to its average volume of 344,128. The company has a 50 day simple moving average of $10.78 and a two-hundred day simple moving average of $11.05. WEBTOON Entertainment has a one year low of $7.85 and a one year high of $22.47. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.42 and a beta of 2.56.

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 for the quarter, topping the consensus estimate of ($0.07) by $0.11. The firm had revenue of $338.47 million for the quarter, compared to analysts' expectations of $339.89 million. WEBTOON Entertainment had a negative net margin of 24.12% and a positive return on equity of 2.55%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Equities research analysts anticipate that WEBTOON Entertainment will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

Several institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in WEBTOON Entertainment in the 4th quarter worth approximately $27,000. BNP Paribas Financial Markets increased its stake in WEBTOON Entertainment by 103.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,548 shares of the company's stock worth $69,000 after purchasing an additional 1,804 shares during the period. Parallel Advisors LLC grew its holdings in shares of WEBTOON Entertainment by 620.4% in the first quarter. Parallel Advisors LLC now owns 4,445 shares of the company's stock worth $41,000 after purchasing an additional 3,828 shares during the last quarter. State of Wyoming purchased a new position in shares of WEBTOON Entertainment in the fourth quarter worth $96,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of WEBTOON Entertainment by 13.3% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 8,500 shares of the company's stock worth $78,000 after buying an additional 1,000 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source