Analysts Set WEBTOON Entertainment Inc. (NASDAQ:WBTN) Target Price at $26.83

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

A number of brokerages have recently issued reports on WBTN. HSBC assumed coverage on shares of WEBTOON Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price target on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

WEBTOON Entertainment Price Performance

NASDAQ:WBTN opened at $12.42 on Friday. The firm’s 50-day moving average is $11.75. WEBTOON Entertainment has a 52-week low of $10.05 and a 52-week high of $25.66.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. bought a new position in WEBTOON Entertainment in the 2nd quarter valued at $32,145,000. WINTON GROUP Ltd bought a new position in WEBTOON Entertainment in the 2nd quarter worth about $413,000. Hood River Capital Management LLC purchased a new position in shares of WEBTOON Entertainment during the second quarter worth approximately $10,352,000. Davidson Kempner Capital Management LP purchased a new position in shares of WEBTOON Entertainment during the second quarter worth approximately $1,610,000. Finally, Marshall Wace LLP bought a new stake in shares of WEBTOON Entertainment during the second quarter valued at approximately $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.