WEBTOON Entertainment Inc. (NASDAQ:WBTN) Stock Now Rated “Hold” by Wall Street Analysts

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.88.

Several analysts recently weighed in on WBTN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of WEBTOON Entertainment in a report on Thursday, October 15th. Wall Street Zen raised shares of WEBTOON Entertainment from a “strong sell” rating to a “sell” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. reduced their price target on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Finally, Evercore reissued an “outperform” rating and issued a $12.00 price target on shares of WEBTOON Entertainment in a research note on Tuesday, August 11th.

WEBTOON Entertainment Stock Performance

NASDAQ WBTN opened at $9.45 on Tuesday. The stock has a market cap of $1.28 billion, a P/E ratio of -3.59 and a beta of 2.57. WEBTOON Entertainment has a fifty-two week low of $7.85 and a fifty-two week high of $18.93. The stock has a 50 day simple moving average of $10.05 and a two-hundred day simple moving average of $10.80.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its earnings results on Monday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 positive return on equity of 2.10% and a negative net margin of 25.09%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. Sell-side analysts predict that WEBTOON Entertainment will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. bought a new position in shares of WEBTOON Entertainment in the 4th quarter worth approximately $27,000. Parallel Advisors LLC boosted its position in shares of WEBTOON Entertainment by 620.4% during the first quarter. Parallel Advisors LLC now owns 4,445 shares of the company’s stock valued at $41,000 after purchasing an additional 3,828 shares in the last quarter. State of Alaska Department of Revenue grew its stake in WEBTOON Entertainment by 135.0% in the third quarter. State of Alaska Department of Revenue now owns 6,760 shares of the company’s stock worth $72,000 after purchasing an additional 3,883 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in 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 purchasing an additional 1,000 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in WEBTOON Entertainment in the second quarter worth $117,000.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc (NASDAQ: WBTN) is a global entertainment company that operates digital storytelling platforms for webcomics and web novels. Its flagship WEBTOON platform allows creators to publish serialized comics and enables readers to access content through mobile and online services. The company generates revenue through paid content, advertising and other creator- and consumer-focused offerings.

The company’s portfolio includes WEBTOON, Wattpad and Wattpad WEBTOON Studios, which develop and distribute original stories across digital publishing and entertainment formats.