WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $21.67 Consensus Target Price from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $21.67.

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

WEBTOON Entertainment Stock Performance

WEBTOON Entertainment stock opened at $10.89 on Friday. The business has a 50-day moving average of $13.12 and a 200-day moving average of $13.07. WEBTOON Entertainment has a 1 year low of $10.05 and a 1 year high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.70. The firm had revenue of $347.92 million for the quarter, compared to analyst estimates of $336.43 million. On average, analysts anticipate that WEBTOON Entertainment will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in WEBTOON Entertainment by 45.0% during the 3rd 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 in the last quarter. Millennium Management LLC acquired a new position in WEBTOON Entertainment during the second quarter valued at approximately $18,346,000. Barclays PLC grew its stake in WEBTOON Entertainment by 1,404.1% in the third quarter. Barclays PLC now owns 523,589 shares of the company’s stock valued at $5,990,000 after purchasing an additional 488,779 shares in the last quarter. Geode Capital Management LLC increased its position in shares of WEBTOON Entertainment by 290.1% during the 3rd quarter. Geode Capital Management LLC now owns 412,131 shares of the company’s stock worth $4,716,000 after purchasing an additional 306,496 shares during the last quarter. Finally, Potrero Capital Research LLC bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter worth approximately $4,176,000.

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.