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

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.61 and last traded at $8.66, with a volume of 59233 shares traded. The stock had previously closed at $8.85.

Analysts Set New Price Targets

WBTN has been the topic of several 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, February 26th. The Goldman Sachs Group reduced 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 report on Wednesday, February 26th. Finally, 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, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.

WEBTOON Entertainment Stock Performance

The company has a market capitalization of $1.09 billion and a price-to-earnings ratio of 18.48. The business's 50-day simple moving average is $11.39 and its 200-day simple moving average is $11.71.

WEBTOON Entertainment (NASDAQ:WBTN - Get Free Report) last released its 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 business had revenue of $352.85 million for the quarter, compared to the consensus estimate of $351.00 million. On average, analysts forecast that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current year.

Remove Ads

Institutional Trading of WEBTOON Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. bought a new stake in WEBTOON Entertainment during the 3rd quarter worth approximately $1,344,000. State Street Corp acquired a new position in WEBTOON Entertainment during the 3rd quarter worth approximately $1,560,000. SG Americas Securities LLC acquired a new stake in shares of WEBTOON Entertainment in the 4th quarter valued at approximately $892,000. Barclays PLC boosted its holdings in shares of WEBTOON Entertainment by 1,404.1% in the 3rd quarter. Barclays PLC now owns 523,589 shares of the company's stock valued at $5,990,000 after buying an additional 488,779 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 306,496 shares during the last quarter.

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.