WEBTOON Entertainment Inc. (NASDAQ:WBTN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $26.83.

WBTN has been the subject of several research reports. HSBC initiated coverage on WEBTOON Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $23.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WBTN. Federated Hermes Inc. bought a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $32,145,000. WINTON GROUP Ltd bought a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $413,000. Hood River Capital Management LLC bought a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $10,352,000. Davidson Kempner Capital Management LP bought a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $1,610,000. Finally, Marshall Wace LLP bought a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at approximately $1,516,000.

WEBTOON Entertainment Price Performance

Shares of NASDAQ WBTN opened at $12.90 on Friday. WEBTOON Entertainment has a one year low of $10.05 and a one year high of $25.66. The business’s 50-day simple moving average is $11.70.

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.