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

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat reports. Two 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 issued ratings on the stock in the last year is $21.67.

A number of analysts have recently issued reports on WBTN shares. Morgan Stanley lowered their price objective on WEBTOON Entertainment from $17.50 to $16.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group dropped 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 note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in 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. Millennium Management LLC bought a new stake in WEBTOON Entertainment during the 2nd quarter worth approximately $18,346,000. Barclays PLC increased its holdings in 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 purchasing an additional 488,779 shares in the last quarter. Geode Capital Management LLC raised its position in WEBTOON Entertainment by 290.1% in the 3rd 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. Finally, Potrero Capital Research LLC acquired a new position in WEBTOON Entertainment during the 3rd quarter worth about $4,176,000.

WEBTOON Entertainment Stock Performance

NASDAQ WBTN traded up $0.77 during midday trading on Friday, hitting $13.69. The company had a trading volume of 180,378 shares, compared to its average volume of 196,330. The firm has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $13.11. WEBTOON Entertainment has a fifty-two week low of $10.05 and a fifty-two week high of $25.66.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.22 earnings per share for the quarter, topping 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. Equities research analysts forecast that WEBTOON Entertainment will post -0.26 EPS for the current year.

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.