WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) has received an average rating of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.36.

A number of brokerages have recently commented on WBTN. Morgan Stanley cut their target price on shares of WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Evercore ISI reduced their target price on shares of WEBTOON Entertainment from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their target price on shares of WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Citigroup started coverage on WEBTOON Entertainment in a research report on Thursday, May 15th. They issued a "buy" rating and a $11.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on WEBTOON Entertainment from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, May 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in WEBTOON Entertainment in the 4th quarter valued at approximately $54,000. New York State Common Retirement Fund acquired a new stake in shares of WEBTOON Entertainment in the 4th quarter valued at approximately $60,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of WEBTOON Entertainment in the first quarter valued at approximately $58,000. Wells Fargo & Company MN grew its holdings in WEBTOON Entertainment by 37.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,168 shares of the company's stock worth $111,000 after acquiring an additional 2,240 shares during the period. Finally, American Century Companies Inc. purchased a new position in WEBTOON Entertainment in the fourth quarter worth $203,000.

WEBTOON Entertainment Stock Performance

NASDAQ WBTN traded up $0.09 on Tuesday, reaching $9.48. The stock had a trading volume of 166,679 shares, compared to its average volume of 370,604. The stock has a market cap of $1.23 billion and a P/E ratio of -6.58. WEBTOON Entertainment has a 12-month low of $6.75 and a 12-month high of $24.19. The business's 50-day moving average price is $8.91 and its 200 day moving average price is $10.05.

About WEBTOON Entertainment

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.