On the 15th, Shinhan Investment maintained its investment opinion "buy" and target stock price of 100,000 won, saying it will outperform the market outlook for the third quarter of this year.
NHN's consolidated sales in the third quarter are estimated to rise 15.0% year-on-year to 482.2 billion won and operating profit to 30.8 billion won, up 12.4%. In the case of operating profit, it is more than 17.6% of the market estimate of 26.2 billion won.
"In the third quarter, there may have been the effect of the peak season for webboards due to the Chuseok holiday and the inflow of web board users from competitors," Shinhan Investment said. "Japanese mobile games will also see overall game sales rise 12.6% from the previous quarter to 97.9 billion won due to the update.".
In particular, it is analyzed that the center of the company is clearly moving to the technology sector such as e-commerce and cloud.
Shinhan Financial Investment emphasized, "The transaction amount of the simple payment service 'Payco', which was sluggish due to the decrease in offline transactions, is also on the rise, and cloud sales at home and abroad are also rapidly increasing.".
Shinhan Financial Investment also expected that "NHN is at the beginning of transforming itself into a technology company as non-game sectors such as commerce, payment, advertising, and technology grow rapidly.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
