WEBTOON Entertainment (NASDAQ:WBTN) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of WEBTOON Entertainment (NASDAQ:WBTN) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research report on Thursday, October 15th. Evercore reiterated an “outperform” rating and set a $12.00 price objective on shares of WEBTOON Entertainment in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lowered their target price 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. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.88.

WEBTOON Entertainment Stock Performance

Shares of WBTN traded down $0.23 during mid-day trading on Friday, reaching $9.85. 352,592 shares of the company were exchanged, compared to its average volume of 482,105. The business has a 50 day simple moving average of $10.04 and a two-hundred day simple moving average of $10.59. The stock has a market capitalization of $1.34 billion, a PE ratio of -3.79 and a beta of 2.65. WEBTOON Entertainment has a 52 week low of $7.85 and a 52 week high of $14.61.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Monday, November 9th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.09. The business had revenue of $362.77 million for the quarter, compared to analysts’ expectations of $373.75 million. WEBTOON Entertainment had a positive return on equity of 1.71% and a negative net margin of 25.18%. On average, analysts predict that WEBTOON Entertainment will post -0.12 EPS for the current year.

Hedge Funds Weigh In On WEBTOON Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $21,629,000. Bank of New York Mellon Corp acquired a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at $543,000. PCM Encore LLC acquired a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at $543,000. Bank of America Corp DE acquired a new position in shares of WEBTOON Entertainment during the 2nd quarter valued at $470,000. Finally, GSA Capital Partners LLP bought a new position in WEBTOON Entertainment during the second quarter worth $254,000.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment operates a digital storytelling platform where readers can access comics, webtoons and related content on mobile devices and the web. Its services connect readers with independent creators and professional publishers, and include platforms such as WEBTOON and Wattpad. The company’s business includes paid content and advertising, as well as developing and licensing story properties for adaptations across formats such as television, film and games. Its entertainment properties have been adapted and distributed through its studios and industry partners.