12 Best Software Stocks to Buy According to Analysts

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6. WEBTOON Entertainment Inc. (NASDAQ:WBTN)

Stock Price: $13.27

Number of Hedge Fund Holders: 7

Analyst Upside Potential: 73.32%

WEBTOON Entertainment Inc. (NASDAQ:WBTN) operates an international digital storytelling platform that allows creators and users to discover, create, and share stories. It provides two main formats of content including web comics and web novels, and allows authors to monetize their work through various means such as paid content and advertising. The platform has a presence in over 150 countries with 170 million monthly active users, the majority of which are from Korea, Japan, and North America.

To increase user engagement on its digital platform, management on November 15th announced the opening of its Online Retail WEBTOON Shop for Webcomic merchandise. This launch is also expected to add another revenue stream to its business model as the online retail shop allows it to sell merchandise directly to customers.

Moreover, WEBTOON Entertainment Inc. (NASDAQ:WBTN) posted encouraging results during its fiscal third quarter of 2024. Its revenue of $347.9 million grew 9.5% year-over-year. The revenue growth was mainly driven by the increased use of paid content and advertising. It is one of the best software stocks to buy according to analysts.

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