April 25, 2024

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[THE INVESTOR] Gamevil still lacks a new hit that could steadily boost its value, said eBEST Investment and Securities on Feb. 20, lowering the target price to 77,000 won (US$72.04) from 85,000 won.

It has launched several new games that drew considerable expectations in the past couple of years, but all of them fell short, and its stock price rose and fell in tandem, said analyst Seong Jong-hwa.

Its most recent release “Royal Blood” also was part of that pattern and investors should be careful about placing their hopes on new games, cautioned the analyst underlining that the game maker needs to create at least one blockbuster.

Its revenue in the fourth quarter last year did rise 12 percent on-year to 22.2 billion won but operating loss expanded to 8.6 billion won, as its existing games dwindle while “ArcheAge BEGINS,” its single new release, failed to gain popularity, noted Seong.

By Hwang You-mee (glamazon@heraldcorp.com)