by Lee Jungyun
Published 24 Apr.2023 07:51(KST)
NH Investment & Securities stated on the 24th that if the new game releasing in the second quarter of this year shows positive results, operating profit could turn positive from the third quarter, maintaining a buy rating on Netmarble and raising the target price from 75,000 KRW to 81,000 KRW.
Ahn Jae-min, a researcher at NH Investment & Securities, explained, "Although the stock price has been adjusted due to the momentum loss following the release of Everyone's Marble 2 on the 19th, the initial download ranking is not bad," adding, "Based on our play experience, the quality and gameplay are quite high, raising expectations for success in the global casual game market, which has seen few new releases recently."
Everyone's Marble 2 was developed in a form where players buy and sell real-world real estate. It is expected to become a pioneer of metaverse-style games. Additionally, as a P2E (play-to-earn) game linked with Netmarble's virtual asset Mavrex, it is a new attempt, and there is hope that the currently favorable download ranking will translate into sales.
Researcher Ahn also added, "Besides this, the release of major new titles such as Grand Cross W and Tower of God: New World in the second quarter, three games that received publishing approval in July and August, and in the second half of the year, Solo Leveling: ARISE, Arthdal Chronicles, and The Second Country (China) are scheduled, so the momentum for new games this year is quite good."
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