WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Consensus Rating of “Moderate Buy” by Brokerages

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.83.

Separately, Deutsche Bank Aktiengesellschaft decreased their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of WEBTOON Entertainment by 45.0% during the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after buying an additional 1,905,231 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $32,145,000. Millennium Management LLC acquired a new position in shares of WEBTOON Entertainment in the second quarter valued at approximately $18,346,000. Barclays PLC raised its stake in shares of WEBTOON Entertainment by 1,404.1% during the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after purchasing an additional 488,779 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of WEBTOON Entertainment during the second quarter worth $10,352,000.

WEBTOON Entertainment Stock Performance

Shares of WEBTOON Entertainment stock opened at $13.83 on Tuesday. WEBTOON Entertainment has a twelve month low of $10.05 and a twelve month high of $25.66. The company has a 50-day moving average of $12.23.

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.