WEBTOON Entertainment (NASDAQ:WBTN) Posts Quarterly Earnings Results

WEBTOON Entertainment (NASDAQ:WBTN) announced its quarterly earnings results on Thursday. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.92, Briefing.com reports. The business had revenue of $320.97 million for the quarter, compared to analysts’ expectations of $340.72 million. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share.

WEBTOON Entertainment Stock Performance

Shares of WEBTOON Entertainment stock traded down $7.88 on Friday, reaching $12.75. The company’s stock had a trading volume of 2,465,204 shares, compared to its average volume of 648,736. WEBTOON Entertainment has a 52-week low of $12.20 and a 52-week high of $25.66.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WBTN shares. JPMorgan Chase & Co. assumed coverage on WEBTOON Entertainment in a research note on Monday, July 22nd. They set a “neutral” rating and a $23.00 price objective on the stock. Morgan Stanley initiated coverage on WEBTOON Entertainment in a research note on Monday, July 22nd. They issued an “equal weight” rating and a $23.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on WEBTOON Entertainment in a research report on Monday, July 22nd. They issued a “buy” rating and a $25.00 target price for the company. The Goldman Sachs Group began coverage on shares of WEBTOON Entertainment in a research report on Monday, July 22nd. They set a “buy” rating and a $62.00 target price for the company. Finally, Evercore ISI began coverage on shares of WEBTOON Entertainment in a report on Monday, July 22nd. They issued an “outperform” rating and a $30.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, WEBTOON Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

About WEBTOON Entertainment

Our Vision To be the world’s storytelling technology platform empowering creation by anyone, for everyone. WEBTOON is a global storytelling platform where a vibrant community of creators and users discover, create and share new content. We have pioneered a cultural movement by revolutionizing the storytelling format and democratizing content creation and publication.