[Click e-Stock] "Cocone Holds Core Infrastructure for Financial AI Transition"

On February 9, independent research firm Research Alem assessed that Cocone is a company that owns core infrastructure for the transition to financial AI (artificial intelligence), and forecast a sharp increase in demand for data-standardization APIs (application programming interfaces). It presented a Positive investment opinion and a fair value target price of 47,500 won.

Choi Sunghwan, an analyst at Research Alem, said, "Cocone is a data infrastructure company that provides data, which is dispersed across financial institutions, credit card companies, and public institutions, in the form of standardized APIs," adding, "It is operating Korea's largest business data platform, 'Cocone.net,' and is collecting and processing data in connection with more than 500 domestic institutions and about 2,000 institutions in over 40 countries overseas."

The 2026 revenue mix by business segment is estimated at 51% for data services and 49% for payment services. Both business segments are structured to be linked to traffic increases based on API calls, but they show differentiated characteristics in terms of profitability and growth drivers. As the adoption of financial AI expands, the volume of data API calls is increasing, and the unit price of data usage is also rising due to the expansion of demand from customers.

Choi said, "Attention should be paid to the imminent visibility of new growth-driver businesses such as stablecoin-based settlement, RegTech (regulatory technology) solutions, and global payment services," adding, "The payment services segment is expected to emerge as a mid- to long-term growth pillar that can achieve both top-line growth and profitability improvement."

He added, "Cocone completed a 4 billion won share repurchase and cancellation last year, raised its dividend per share (from 150 won to 300 won), and is implementing shareholder-friendly policies through active IR activities," and said, "We believe a re-rating is imminent as it is a core infrastructure company for the digital financial transition."

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