WEBTOON Entertainment (NASDAQ:WBTN) Sets New 1-Year Low - Here's What Happened

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The stock traded as low as $8.68 and last traded at $8.77, with a volume of 198681 shares traded. The stock had previously closed at $8.90.

Analysts Set New Price Targets

WBTN has been the topic of several research reports. JPMorgan Chase & Co. decreased 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 note on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased 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 note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.

WEBTOON Entertainment Price Performance

The business's 50 day simple moving average is $11.89 and its 200 day simple moving average is $11.89. The company has a market capitalization of $1.20 billion and a PE ratio of 20.37.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million for the quarter, compared to the consensus estimate of $351.00 million. As a group, analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

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Institutional Investors Weigh In On WEBTOON Entertainment

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $45,000. Deutsche Bank AG acquired a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at about $54,000. New York State Common Retirement Fund acquired a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at about $60,000. JPMorgan Chase & Co. acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $75,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $107,000.

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.