WEBTOON Entertainment (NASDAQ:WBTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of WEBTOON Entertainment (NASDAQ:WBTN) from a strong sell rating to a sell rating in a research note published on Monday morning,Wall Street Zen reports.

Several other equities analysts also recently commented on WBTN. Evercore restated an “outperform” rating and issued a $12.00 price target on shares of WEBTOON Entertainment in a research note on Tuesday, August 11th. JPMorgan Chase & Co. cut their price objective on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.70.

WEBTOON Entertainment Trading Down 1.2%

NASDAQ:WBTN opened at $10.20 on Monday. The stock has a market cap of $1.38 billion, a P/E ratio of -3.88 and a beta of 2.62. The stock has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $10.73. WEBTOON Entertainment has a 1-year low of $7.85 and a 1-year high of $22.47.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.11. The firm had revenue of $338.47 million for the quarter, compared to analyst estimates of $339.89 million. WEBTOON Entertainment had a positive return on equity of 2.10% and a negative net margin of 25.09%.The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts forecast that WEBTOON Entertainment will post -0.12 EPS for the current year.

Institutional Trading of WEBTOON Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of WEBTOON Entertainment by 196.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,878 shares of the company’s stock worth $33,000 after acquiring an additional 1,907 shares in the last quarter. Bank of America Corp DE acquired a new position in WEBTOON Entertainment during the second quarter valued at approximately $470,000. The Manufacturers Life Insurance Company bought a new stake in WEBTOON Entertainment during the second quarter worth $117,000. Ieq Capital LLC acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at $149,000. Finally, PCM Encore LLC acquired a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at $543,000.

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.