Goldman Sachs analyst Eric Sheridan has maintained their bullish stance on WBTN stock, giving a Buy rating on February 24.
Eric Sheridan has given his Buy rating due to a combination of factors influencing WEBTOON Entertainment Inc. Despite facing challenges such as foreign exchange volatility and specific country-related issues, the company remains optimistic about its growth and margin potential beyond the first quarter of 2025. Management has highlighted ongoing investments in user engagement, product enhancements, and content, which are expected to drive future growth.
Moreover, WEBTOON is strategically positioned to benefit from a large and expanding market, particularly in North America, through paid content and advertising. The company’s focus on operational efficiencies and strategic partnerships, such as those with Duolingo and Discord, are likely to enhance user engagement and expand its reach. These factors, combined with steady margin expansion, underpin Sheridan’s confidence in the company’s long-term prospects, leading to the Buy rating.
In another report released on February 24, Evercore ISI also maintained a Buy rating on the stock with a $27.00 price target.
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