WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives $26.83 Consensus Price Target from Analysts

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $26.83.

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Evercore ISI reduced their price target on WEBTOON Entertainment from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Monday, August 12th. HSBC started coverage on WEBTOON Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $23.00 price objective for the company. The Goldman Sachs Group reduced their target price on WEBTOON Entertainment from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Morgan Stanley dropped their price target on shares of WEBTOON Entertainment from $23.00 to $17.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th.

WEBTOON Entertainment Stock Performance

NASDAQ WBTN opened at $11.85 on Monday. The stock’s fifty day moving average price is $11.17. WEBTOON Entertainment has a 52 week low of $10.05 and a 52 week high of $25.66.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of WEBTOON Entertainment by 45.0% during the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after purchasing an additional 1,905,231 shares during the period. Federated Hermes Inc. bought a new position in WEBTOON Entertainment in the second quarter worth about $32,145,000. Millennium Management LLC bought a new position in shares of WEBTOON Entertainment during the second quarter valued at approximately $18,346,000. Barclays PLC raised its position in shares of WEBTOON Entertainment by 1,404.1% during the 3rd quarter. Barclays PLC now owns 523,589 shares of the company’s stock worth $5,990,000 after purchasing an additional 488,779 shares during the period. Finally, Hood River Capital Management LLC bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth approximately $10,352,000.

WEBTOON Entertainment Company Profile

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.