[Click eStock] "RSUPPORT, Remote Service Sales Level Up This Year... Target Price 13,400 Won"

[Asia Economy Reporter Hyunseok Yoo] Leading Investment & Securities analyzed on the 29th that RSUPPORT is expected to achieve strong performance this year due to increased sales in remote services. They newly issued a 'Buy' investment opinion with a target price of 13,400 KRW.

Leading Investment & Securities forecasted that RSUPPORT's sales and operating profit for the second quarter will reach 15.3 billion KRW and 6.8 billion KRW, respectively. Researcher Seungtaek Oh from Leading Investment & Securities stated, "Following the explosive increase in demand for remote work solutions after the COVID-19 pandemic, competitors' products that could not handle the demand due to server downtime and other reasons have been withdrawn, and RSUPPORT is absorbing that demand."

He particularly expected notable performance growth this year. Researcher Oh said, "The free provision promotion for RSUPPORT's products, which started after the COVID-19 pandemic, ended on April 30," adding, "The paid conversion rate after the promotion's end is key to RSUPPORT's future performance, and positive signals are being observed, indicating that this year will be a year of company-wide level-up."

He explained, "Due to the special effects in the second quarter this year, seasonality will be observed. Given RSUPPORT's sales characteristics, where contracts are signed on an annual basis per account or per remote-controlled device, domestic sales recognized under IFRS are recorded quarterly," adding, "In Japan, sales tend to be concentrated in the specific quarter when contracts are signed. Therefore, sales of the RemoteView product are expected to show seasonality with contracts concentrated in the second quarter going forward and gradually undergo a flattening-out process."

This content was produced with the assistance of AI translation services.