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

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.83.

Separately, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

WEBTOON Entertainment Price Performance

Shares of NASDAQ WBTN opened at $13.05 on Tuesday. WEBTOON Entertainment has a 12 month low of $10.05 and a 12 month high of $25.66. The company’s fifty day moving average is $12.50.

Hedge Funds Weigh In On WEBTOON Entertainment

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

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.