Netmarble stock: Mirae Asset cuts target for Netmarble stock from KRW 50,000 to KRW 46,000

Published on 10/24/2026 at 02:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mirae Asset cut its target to KRW 46,000 on October 22, 2026. Netmarble stock grew Q2 revenue 4.4 percent to KRW 749.2 billion.

Target cuts and earnings timing

Mirae Asset lowered Netmarble's target to KRW 46,000 on October 22, 2026.
Netmarble reported KRW 749.2 billion in second-quarter revenue, up 4.4 percent year on year.
Netmarble's next earnings date is November 5, 2026.

Netmarble, KR7251270005, Illustration mit AI erstellt.

Netmarble (ISIN KR7251270005) had its analyst target cut from KRW 50,000 to KRW 46,000 on October 22, 2026, as Financial News reported. Mirae Asset Securities kept its Buy view while highlighting uncertainty around major new-game release dates and weaker expected profitability.

Second-quarter growth met higher costs

Netmarble's second-quarter revenue reached KRW 749.2 billion, up 4.4 percent from a year earlier, while operating profit fell 20.8 percent to KRW 80.1 billion. Global Economic reported that the operating margin declined to 10.7 percent from 14.1 percent in the second quarter of 2025, while marketing costs rose 35.5 percent to KRW 183.5 billion.

The figures show why new releases remain central to the valuation discussion. Revenue expanded, but marketing spending grew more than eight times faster than sales, leaving the company dependent on sustained user engagement after launch.

Three target revisions since October 13

On October 13, 2026, Shin Young Securities cut its target from KRW 60,000 to KRW 50,000, according to The Asia Business Daily. On October 19, 2026, Kyobo Securities lowered its target to KRW 51,000 while retaining a Buy rating, as Chosunbiz reported. Mirae Asset followed on October 22, 2026, cutting its target to KRW 46,000 from KRW 50,000.

What does the next report need to show?

The next test is whether new titles can turn marketing investment into durable profit. Kyobo projected third-quarter revenue at KRW 688.1 billion, down 1.1 percent year on year, and operating profit at KRW 70.1 billion, down 22.9 percent. The estimates were below consensus revenue of KRW 739.7 billion and operating profit of KRW 86.7 billion.

Next results set the next checkpoint

Netmarble's next earnings date is November 5, 2026, according to SniperIQ. The release should give investors a clearer read on launch timing, early player demand and the cost required to support new games.

KRW 34,450 close frames valuation

Netmarble last closed at KRW 34,450 on the KRX on October 21, 2026. Its market capitalization was KRW 2.8 trillion as of October 23, 2026, while the company remains positioned as a technology business in electronic gaming and multimedia.