Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN – Get Free Report) traded down 3.8% during trading on Tuesday . The company traded as low as $9.15 and last traded at $9.2260. 78,855 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 349,343 shares. The stock had previously closed at $9.59.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of WEBTOON Entertainment from a “sell” rating to a “strong sell” rating in a research report on Sunday. Evercore reaffirmed an “outperform” rating and set a $12.00 price objective on shares of WEBTOON Entertainment in a research report 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, JPMorgan Chase & Co. cut their target price on shares of WEBTOON Entertainment from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.70.
View Our Latest Analysis on WEBTOON Entertainment
WEBTOON Entertainment Price Performance
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 during the quarter, compared to the consensus estimate of $339.89 million. WEBTOON Entertainment had a negative net margin of 25.09% and a positive return on equity of 2.10%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. Research analysts anticipate that WEBTOON Entertainment Inc. will post -0.12 EPS for the current year.
Institutional Investors Weigh In On WEBTOON Entertainment
Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of WEBTOON Entertainment in the second quarter worth $21,629,000. Bank of America Corp DE raised its stake in shares of WEBTOON Entertainment by 966.9% during the second quarter. Bank of America Corp DE now owns 823,708 shares of the company’s stock valued at $7,479,000 after purchasing an additional 746,505 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in WEBTOON Entertainment during the 4th quarter valued at about $3,903,000. Marshall Wace LLP increased its stake in WEBTOON Entertainment by 1,281.8% during the 3rd quarter. Marshall Wace LLP now owns 313,137 shares of the company’s stock valued at $6,078,000 after buying an additional 290,476 shares during the period. Finally, Millennium Management LLC raised its position in shares of WEBTOON Entertainment by 329.0% during the 4th quarter. Millennium Management LLC now owns 191,048 shares of the company’s stock worth $2,489,000 after buying an additional 146,514 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.
Featured Articles
- Five stocks we like better than WEBTOON Entertainment
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
- IBM Just Opened Its Mainframes to Arm—Is the Market Missing the Shift?
- Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding
Receive News & Ratings for WEBTOON Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEBTOON Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.
