WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $21.67 Average PT from Brokerages

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $17.33.

WBTN has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday.

WEBTOON Entertainment Trading Down 1.2 %

NASDAQ WBTN opened at $9.04 on Wednesday. WEBTOON Entertainment has a 12 month low of $8.75 and a 12 month high of $25.66. The company’s fifty day moving average price is $12.32 and its two-hundred day moving average price is $12.01.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $352.85 million for the quarter, compared to the consensus estimate of $351.00 million. Analysts predict that WEBTOON Entertainment will post -0.26 EPS for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

Several large investors have recently bought and sold shares of WBTN. BNP Paribas Financial Markets acquired a new position in WEBTOON Entertainment during the 3rd quarter valued at about $45,000. Deutsche Bank AG acquired a new position in WEBTOON Entertainment during the 4th quarter valued at about $54,000. New York State Common Retirement Fund acquired a new position in WEBTOON Entertainment during the 4th quarter valued at about $60,000. JPMorgan Chase & Co. acquired a new position in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $75,000. Finally, MetLife Investment Management LLC acquired a new position in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $107,000.

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.