NH Investment & Securities maintained its investment opinion on Netmarble at 'buy', but lowered its target price than before.
NH Investment & Securities lowered Netmarble's target share price from 180,000 won to 160,000 won. It is explained that sales of existing games, including Seven Knights 2, which was released in November last year, have been on the decline, lowering its earnings estimates since this year.
Netmarble recorded sales of KRW 570.4 billion (up 7.0% from the same period last year, down 8.6% from the previous quarter), and operating profit of KRW 54.2 billion (165.2% from the same period last year, down 34.3% from the previous quarter).
However, starting with the launch of the second country on June 10, new releases such as Marvel Future Revolution, Seven Knights Revolution, and BTS Dream will continue. Cross Worlds will be shown in Korea, Japan, Taiwan, Hong Kong, and Macau.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
