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

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

A number of research analysts recently weighed in on the stock. HSBC assumed coverage on shares of WEBTOON Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price target 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.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of WBTN. Federated Hermes Inc. purchased a new position in shares of WEBTOON Entertainment in the 2nd quarter valued at about $32,145,000. WINTON GROUP Ltd acquired a new position in WEBTOON Entertainment in the second quarter valued at approximately $413,000. Hood River Capital Management LLC purchased a new position in WEBTOON Entertainment in the second quarter valued at approximately $10,352,000. Davidson Kempner Capital Management LP acquired a new stake in WEBTOON Entertainment during the second quarter worth approximately $1,610,000. Finally, Marshall Wace LLP purchased a new stake in shares of WEBTOON Entertainment during the 2nd quarter worth approximately $1,516,000.

WEBTOON Entertainment Price Performance

NASDAQ WBTN opened at $12.74 on Friday. The firm has a 50-day moving average price of $11.62. WEBTOON Entertainment has a 1-year low of $10.05 and a 1-year high of $25.66.

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.