[Click eStock] Cookie Run's Popularity Surges in North America... "DevSisters, Target Price 200,000 KRW"

[Asia Economy Reporter Ji Yeon-jin] Yuanta Securities announced on the 23rd that it raised the target price for Devsisters by 200,000 KRW, reflecting a surge in overseas performance and performance improvements due to the release of new titles, while maintaining a buy investment rating.

Devsisters' flagship game, "Cookie Run: Kingdom," which was simultaneously released globally on January 21 this year, ranked 3rd in the US popularity rankings as of this day following a content update earlier this month. It surged from 389th in sales ranking on the 25th of last month to 29th on this day. In Canada, it is rapidly rising from 341st to 24th in sales ranking (App Store basis). The US and Canada did not have marketing like Japan, but it is estimated that the number of users surged and sales increased after the update, similar to Japan. Marketing in the US will be in full swing from the 8th of next month, and the current trend of increasing users and sales is expected to continue.

The game is currently ranked 2nd in popularity on Google Play in Japan. The sales ranking is 75th (App Store basis), so there is still a large gap between popularity (downloads) and sales rankings, but the number of users is steadily increasing after marketing in Japan. Additionally, it is collaborating with the Japanese game company SEGA's game "Sonic the Hedgehog," so the average revenue per user (average payment amount per user) is high, and sales from the increase in users of "Cookie Run: Kingdom" in Japan are expected to continue to grow.

Lee Chang-young, a researcher at Yuanta Securities, said, "'Cookie Run: Kingdom' has signed a publishing contract with China and is currently waiting for the issuance of a game license (panho)." He added, "Given the recent favorable atmosphere for game license issuance for Korean games and the fact that this is a new genre that has never been serviced on Chinese mobile platforms, the possibility and timing of license issuance are expected to be positive."

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