Brokerages Set WEBTOON Entertainment Inc. (NASDAQ:WBTN) Target Price at $14.36

Key Points

• WEBTOON Entertainment Inc. has received a consensus rating of “Moderate Buy” from analysts, with five buy recommendations and two hold recommendations from the seven research firms covering the stock.
• The average 1-year price objective for WEBTOON Entertainment is $14.36, while several analysts have recently updated their price targets, with JPMorgan lowering it to $9.00 and Goldman Sachs adjusting it to $11.00.
• The company has seen institutional investors increase their holdings, with Signaturefd LLC raising its stake by 59.6%, indicating growing confidence in the company’s prospects.

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $14.36.

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

WEBTOON Entertainment Stock Up 1.1%

NASDAQ:WBTN traded up $0.11 on Friday, hitting $10.36. The stock had a trading volume of 74,768 shares, compared to its average volume of 310,791. WEBTOON Entertainment has a 52 week low of $6.75 and a 52 week high of $22.23. The business's fifty day moving average is $9.07 and its 200 day moving average is $9.59. The company has a market cap of $1.35 billion and a PE ratio of -7.20.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in 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 last quarter. CWM LLC boosted its stake in shares of WEBTOON Entertainment by 649.0% during the second quarter. CWM LLC now owns 4,674 shares of the company's stock worth $42,000 after buying an additional 4,050 shares during the period. Deutsche Bank AG acquired a new stake in shares of WEBTOON Entertainment during the fourth quarter worth about $54,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of WEBTOON Entertainment during the first quarter worth about $58,000. Finally, Public Employees Retirement System of Ohio purchased a new position in WEBTOON Entertainment during the second quarter worth about $107,000.

WEBTOON Entertainment Company Profile

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.