SHIFT UP is weak in early trading on the 12th. This appears to be influenced by the fact that target stock prices have been consecutively lowered in the securities market.
As of 10:05 a.m. on this day, SHIFT UP shares are trading at 40,950 won, down 5.86% (2,550 won) from the previous trading day.
Earlier, SHIFT UP reported a revenue of 112.4 billion won and an operating profit of 68.2 billion won for the second quarter of this year, marking a surprising performance. These figures represent increases of 72.4% and 51.6%, respectively, compared to the same period last year.
However, a long period of new game releases is expected, and the performance of 'Nikke' in China has fallen short of market expectations, leading domestic securities firms to adjust down SHIFT UP's target stock price.
Korea Investment & Securities lowered its target price from 70,000 won to 54,000 won, while Mirae Asset Securities (80,000 won to 60,000 won), NH Investment & Securities (70,000 won to 55,000 won), DAISHIN SECURITIES (73,000 won to 55,000 won), and DS Investment & Securities (60,000 won to 53,000 won) also adjusted their target prices downward.
Jeong Ho-yun, a researcher at Korea Investment & Securities, analyzed, "While the performance surprise is welcome, there are some disappointing aspects in terms of content, as 'Stellar Blade' exceeded expectations but the performance of 'Nikke' in China fell short of market expectations," adding that "the fact that the initial revenue of 'Nikke' in China fell short of market expectations suggests that there is a high possibility of overall lowering of performance forecasts starting from the third quarter."
Lee Ji-eun, a researcher at DAISHIN SECURITIES, said, "SHIFT UP is scheduled to release new games after 2027, so a long gap in new releases is expected, necessitating a conservative investment approach."