WEBTOON Entertainment (NASDAQ:WBTN) Shares Down 6.6% – Here’s Why

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) fell 6.6% during trading on Wednesday . The company traded as low as $9.11 and last traded at $9.1610. 206,327 shares were traded during mid-day trading, a decline of 40% from the average session volume of 342,556 shares. The stock had previously closed at $9.81.

Analysts Set New Price Targets

A number of research analysts have issued reports on WBTN shares. Evercore reissued an “outperform” rating and set a $15.00 price objective on shares of WEBTOON Entertainment in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Wednesday, January 21st. The Goldman Sachs Group reiterated a “neutral” rating and set a $10.00 price target on shares of WEBTOON Entertainment in a research report on Thursday, March 5th. HSBC lowered shares of WEBTOON Entertainment from a “buy” rating to a “hold” rating and set a $11.50 price objective for the company. in a report on Wednesday, March 4th. Finally, Zacks Research lowered WEBTOON Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.07.

WEBTOON Entertainment Price Performance

The firm has a market cap of $1.22 billion, a P/E ratio of -3.43 and a beta of 1.94. The firm’s 50 day moving average is $12.01 and its 200 day moving average is $14.46.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). WEBTOON Entertainment had a negative net margin of 24.94% and a positive return on equity of 1.44%. The business had revenue of $330.69 million for the quarter, compared to the consensus estimate of $336.77 million. During the same period in the prior year, the business posted ($0.03) EPS. WEBTOON Entertainment’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts expect that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of WEBTOON Entertainment by 37.8% in the fourth quarter. Invesco Ltd. now owns 62,236 shares of the company’s stock worth $811,000 after acquiring an additional 17,088 shares during the last quarter. Millennium Management LLC boosted its stake in WEBTOON Entertainment by 329.0% in the 4th quarter. Millennium Management LLC now owns 191,048 shares of the company’s stock worth $2,489,000 after purchasing an additional 146,514 shares in the last quarter. AQR Capital Management LLC grew its position in WEBTOON Entertainment by 1.2% during the 4th quarter. AQR Capital Management LLC now owns 90,643 shares of the company’s stock valued at $1,181,000 after purchasing an additional 1,061 shares during the last quarter. Barclays PLC increased its stake in WEBTOON Entertainment by 26.9% during the 4th quarter. Barclays PLC now owns 32,073 shares of the company’s stock valued at $418,000 after purchasing an additional 6,804 shares in the last quarter. Finally, State Street Corp raised its holdings in WEBTOON Entertainment by 0.9% in the fourth quarter. State Street Corp now owns 366,437 shares of the company’s stock worth $4,775,000 after buying an additional 3,443 shares during the last quarter.

WEBTOON Entertainment Company Profile

Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.

Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.