WEBTOON Entertainment (NASDAQ:WBTN - Free Report) had its price objective raised by Morgan Stanley from $10.00 to $11.00 in a report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
Several other equities research analysts have also recently weighed in on the company. Evercore ISI boosted their target price on WEBTOON Entertainment from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Citigroup started coverage on shares of WEBTOON Entertainment in a report on Thursday, May 15th. They set a "buy" rating and a $11.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of WEBTOON Entertainment from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.43.
Read Our Latest Analysis on WBTN
WEBTOON Entertainment Trading Up 2.2%
Shares of WBTN stock traded up $0.33 on Wednesday, reaching $15.30. 1,126,726 shares of the stock were exchanged, compared to its average volume of 430,960. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -19.87 and a beta of 1.12. The business's 50 day moving average price is $9.66 and its 200 day moving average price is $9.37. WEBTOON Entertainment has a twelve month low of $6.75 and a twelve month high of $18.45.
WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. The company had revenue of $348.27 million during the quarter, compared to the consensus estimate of $341.63 million. WEBTOON Entertainment had a negative return on equity of 0.13% and a negative net margin of 7.24%. WEBTOON Entertainment's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. Equities research analysts forecast that WEBTOON Entertainment will post -0.26 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of WEBTOON Entertainment by 59.6% in the second quarter. Signaturefd LLC now owns 3,375 shares of the company's stock valued at $31,000 after acquiring an additional 1,261 shares during the period. CWM LLC raised its position in WEBTOON Entertainment by 649.0% in the 2nd quarter. CWM LLC now owns 4,674 shares of the company's stock valued at $42,000 after purchasing an additional 4,050 shares during the last quarter. Deutsche Bank AG acquired a new stake in WEBTOON Entertainment during the 4th quarter worth $54,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in WEBTOON Entertainment during the 1st quarter worth $58,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in WEBTOON Entertainment by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,816 shares of the company's stock worth $89,000 after purchasing an additional 774 shares during the last quarter.
About WEBTOON Entertainment
(
Get Free Report)
WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company's platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.
See Also
Before you consider WEBTOON Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WEBTOON Entertainment wasn't on the list.
While WEBTOON Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
