[Click eStock] Devsisters, 1Q Revenue Decline Expected... Target Price Down

[Asia Economy Reporter Hwang Yoon-joo] Heungkuk Securities stated on the 25th that it expects Devsisters' first-quarter sales to decline this year. While maintaining a 'Buy' investment rating, the target price was lowered to 120,000 KRW.

Researcher Kang Seok-oh of Heungkuk Securities explained, "Growth was possible due to the regional expansion of 'Cookie Run: Kingdom,' but the sharper-than-expected downward stabilization of performance is the reason for the estimate adjustment."

Researcher Kang forecasted, "Until the start of European marketing in the first half of the year, the downward stabilization of 'Cookie Run: Kingdom' sales will continue," adding, "The company's total sales in the first quarter are expected to decrease quarter-on-quarter (QoQ)."

He assessed, "The new title expected to generate significant sales growth is 'Cookie Run: OvenSmash,' scheduled for release in the second half of the year," and analyzed, "'OvenSmash' has higher specs and, unlike 'Kingdom,' where content decreases as stages are cleared, it offers a relatively steady play style."

He continued, "Daily active users (DAU) and daily sales are expected to be stable," and judged, "Since it is a popular genre regardless of region, if it demonstrates the level of completeness of 'Kingdom,' there is a high possibility of success through a simultaneous global release."

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