WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $21.67.

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Morgan Stanley cut their price objective on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

WEBTOON Entertainment Stock Down 0.9 %

WEBTOON Entertainment stock opened at $12.75 on Friday. WEBTOON Entertainment has a fifty-two week low of $10.05 and a fifty-two week high of $25.66. The stock’s 50 day simple moving average is $12.99 and its two-hundred day simple moving average is $13.32.

WEBTOON Entertainment (NASDAQ:WBTN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.70. The firm had revenue of $347.92 million for the quarter, compared to the consensus estimate of $336.43 million. Sell-side analysts forecast that WEBTOON Entertainment will post -0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC lifted 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 valued at $70,206,000 after purchasing an additional 1,905,231 shares in the last quarter. Millennium Management LLC bought a new position in WEBTOON Entertainment during the 2nd quarter valued at about $18,346,000. Barclays PLC boosted its holdings in shares of WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after acquiring an additional 488,779 shares during the last quarter. Potrero Capital Research LLC bought a new stake in shares of WEBTOON Entertainment in the third quarter worth approximately $4,176,000. Finally, Geode Capital Management LLC raised its holdings in shares of WEBTOON Entertainment by 290.1% during the third quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock valued at $4,716,000 after purchasing an additional 306,496 shares during the last quarter.

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.