Kyobo cuts Netmarble target from KRW 61,000 to 51,000 for Netmarble stock

Published on 10/20/2026 at 02:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kyobo kept its Buy view as third-quarter revenue was forecast at KRW 688.1 billion. Netmarble stock was KRW 34,850 on October 20, 2026.

Analyst reset and game pipeline

Kyobo Securities lowered its Netmarble target on October 19, 2026.
Second-quarter revenue reached KRW 749.2 billion and operating profit KRW 80.2 billion.
Netmarble's market capitalization was KRW 2.8 trillion on October 20, 2026.

Netmarble, KR7251270005, Illustration mit AI erstellt.

Netmarble stock (ISIN KR7251270005) was at KRW 34,850 on the KRX at 9:22 a.m. KST on October 20, 2026, while Kyobo Securities lowered its target from KRW 61,000 to KRW 51,000 on October 19, 2026. The revision puts the publisher's next releases at the center of the investment case.

Target cut reflects weaker estimates

According to Chosunbiz on October 19, 2026, Kyobo kept its Buy rating but cut the target to KRW 51,000. The broker projected third-quarter revenue of KRW 688.1 billion and operating profit of KRW 70.1 billion, down 1.1 percent and 22.9 percent year over year.

Those forecasts were below consensus revenue of KRW 739.7 billion and operating profit of KRW 86.7 billion, according to Chosunbiz. The comparison makes the target cut a forecast reset rather than a response to a reported quarterly miss.

What does the pipeline mean?

The answer lies in timing. Netmarble's fourth-quarter releases, including Shangri-La Frontier: The Seven Supreme Species and Solo Leveling: KARMA, were expected to launch in December 2026, with most revenue and profit contribution expected in 2027, Chosunbiz reported.

Three dated operating markers

On August 14, 2026, Netmarble's second-quarter revenue was KRW 749.2 billion and operating profit was KRW 80.2 billion, with revenue up 4.4 percent year over year, according to ATS View. On October 1, 2026, Hana Securities retained a KRW 50,000 target, as reported by eDaily.

On October 19, 2026, Kyobo Securities cut its target to KRW 51,000. The sequence shows a stable second-quarter base followed by lower expectations for the near-term release schedule.

Next release window

The next operating milestone is the expected December 2026 launch window for two new games. The broker's forecast assigns much of their contribution to 2027, making early reception and subsequent lineup details the next measurable tests.

Market value and investor context

Netmarble's market capitalization was KRW 2.8 trillion on October 20, 2026. Its 52-week range was KRW 32,950.00 to KRW 58,900.00, putting the quoted price near the lower end of that span. Netmarble is listed on the KRX KOSPI market under ticker 251270 and develops online and mobile games for South Korea and global audiences.