WEBTOON Entertainment Inc. (NASDAQ:WBTN – Get Free Report) shares traded up 10.6% on Monday . The stock traded as high as $9.54 and last traded at $9.7360. 184,382 shares traded hands during trading, a decline of 47% from the average session volume of 345,486 shares. The stock had previously closed at $8.80.
Analysts Set New Price Targets
WBTN has been the topic of a number of recent analyst reports. Evercore reissued an “outperform” rating and issued a $12.00 price target on shares of WEBTOON Entertainment in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of WEBTOON Entertainment from a “sell” rating to a “strong sell” rating in a report on Sunday. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, WEBTOON Entertainment has a consensus rating of “Hold” and an average target price of $13.70.
Check Out Our Latest Research Report on WEBTOON Entertainment
WEBTOON Entertainment Stock Up 6.3%
WEBTOON Entertainment (NASDAQ:WBTN – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.11. The firm had revenue of $338.47 million for the quarter, compared to analysts’ expectations of $339.89 million. WEBTOON Entertainment had a positive return on equity of 2.10% and a negative net margin of 25.09%.The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. As a group, equities analysts anticipate that WEBTOON Entertainment Inc. will post -0.12 EPS for the current fiscal year.
Institutional Investors Weigh In On WEBTOON Entertainment
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. bought a new stake in WEBTOON Entertainment during the fourth quarter valued at approximately $27,000. California State Teachers Retirement System grew its stake in WEBTOON Entertainment by 196.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,878 shares of the company’s stock worth $33,000 after buying an additional 1,907 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of WEBTOON Entertainment by 103.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,548 shares of the company’s stock worth $69,000 after buying an additional 1,804 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of WEBTOON Entertainment by 620.4% in the 1st quarter. Parallel Advisors LLC now owns 4,445 shares of the company’s stock worth $41,000 after buying an additional 3,828 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of WEBTOON Entertainment in the 4th quarter worth $96,000.
About WEBTOON Entertainment
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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