Shares of KOSDAQ-listed Seers Technology were strong in early trading on the 14th. Buying appears to be driven by news that the company posted record quarterly results for both revenue and operating profit in the third quarter of this year.
As of 9:43 a.m. that day, Seers Technology was trading at 125,300 won, up 25,500 won (25.5%) from the previous session.
Seers Technology announced its third-quarter results before the market opened that day. Revenue for the period was 15.7 billion won, up 1,502% from a year earlier, and operating profit was 6.7 billion won, marking a turnaround from the loss in the same period last year. After posting 1.5 billion won in operating profit in the second quarter, the company appears to be maintaining its growth trend.
On the day, EUGENE INVESTMENT & SECURITIES initiated Seers Technology with a "Buy" rating and a new target price of 180,000 won.
Kwon Hae-sun, an analyst at EUGENE INVESTMENT & SECURITIES, said, "At a time when the domestic Digital Healthcare market is entering the initial stage of full-fledged growth, it is establishing itself as a solid leader," and noted, "With this year's turnaround to profit as a starting point, revenue expansion and profitability improvement are expected."
The analyst added a forecast that "as it is proceeding with the U.S. Food and Drug Administration (FDA) approval process with the goal of entering the U.S. and Middle East markets next year, if overseas revenue contributions ramp up, a second growth driver for earnings is expected."