WEBTOON Entertainment (NASDAQ:WBTN – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.
Several other research analysts also recently issued reports on WBTN. Weiss Ratings reiterated a “sell (d-)” rating on shares of WEBTOON Entertainment in a report on Friday, July 17th. Evercore reissued an “outperform” rating and set a $12.00 price objective on shares of WEBTOON Entertainment in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. reduced their price objective on WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.70.
WEBTOON Entertainment Trading Down 2.1%
WEBTOON Entertainment (NASDAQ:WBTN – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.11. The company had revenue of $338.47 million for the quarter, compared to analyst estimates of $339.89 million. WEBTOON Entertainment had a negative net margin of 25.09% and a positive return on equity of 2.10%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. As a group, equities analysts predict that WEBTOON Entertainment will post -0.12 EPS for the current fiscal year.
Institutional Investors Weigh In On WEBTOON Entertainment
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in WEBTOON Entertainment in the second quarter valued at $21,629,000. Ameriprise Financial Inc. grew its holdings in WEBTOON Entertainment by 8.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 939,475 shares of the company’s stock worth $18,235,000 after acquiring an additional 73,777 shares during the period. Bank of America Corp DE grew its holdings in WEBTOON Entertainment by 966.9% during the 2nd quarter. Bank of America Corp DE now owns 823,708 shares of the company’s stock worth $7,479,000 after acquiring an additional 746,505 shares during the period. Geode Capital Management LLC raised its position in shares of WEBTOON Entertainment by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 550,280 shares of the company’s stock worth $7,171,000 after acquiring an additional 23,420 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of WEBTOON Entertainment by 22.8% in the 3rd quarter. Vanguard Group Inc. now owns 427,623 shares of the company’s stock worth $8,300,000 after acquiring an additional 79,295 shares in the last quarter.
WEBTOON Entertainment Company Profile
Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.
Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.
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