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

WEBTOON Entertainment Inc. (NASDAQ:WBTN) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.83.

Separately, Deutsche Bank Aktiengesellschaft lowered their target price on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On WEBTOON Entertainment

Several hedge funds have recently modified their holdings of WBTN. BNP Paribas Financial Markets bought a new position in WEBTOON Entertainment during the third quarter valued at about $45,000. Sandia Investment Management LP acquired a new stake in WEBTOON Entertainment in the 2nd quarter valued at about $114,000. JPMorgan Chase & Co. bought a new position in shares of WEBTOON Entertainment during the 3rd quarter valued at about $75,000. MetLife Investment Management LLC bought a new stake in shares of WEBTOON Entertainment in the 3rd quarter worth approximately $107,000. Finally, WINTON GROUP Ltd bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter worth approximately $413,000.

WEBTOON Entertainment Trading Down 1.5 %

Shares of NASDAQ:WBTN opened at $13.05 on Tuesday. The company has a 50 day moving average price of $12.50. WEBTOON Entertainment has a 52 week low of $10.05 and a 52 week high of $25.66.

About WEBTOON Entertainment

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.