Corporate Logo(source: shiftup.co.kr)
Shift Up(462870) is experiencing a decline of more than 2% in early trading on the 24th, following reports of a downgrade in both investment rating and target price by securities analysts.
As of 10:21 AM, Shift Up was trading at 57,100 won, down 2% from the previous session.
The drop in stock price is attributed to a report from Meritz Securities, which lowered its investment rating for Shift Up from "BUY" to "NEUTRAL" and reduced its target price from 90,000 won to 70,000 won.
Meritz Securities analysts believe that the momentum for Shift Up has peaked, citing the Chinese market entry of Goddess of Victory: Nikke and the expansion of Stella Blade to the PC platform as key factors.
Lee Hyo-jin, an analyst at Meritz Securities, commented, "The second quarter is expected to see all events reflected, which will likely lead to increased stock price volatility. Given the stock's forward momentum, the company is passing through the most significant momentum phase in the next two years, which will shift investor focus from new investments to realizing profits from events."
Shift Up received approval for the Chinese release of Goddess of Victory: Nikke in October last year and began its marketing campaign in January. The company is also planning to expand Stella Blade to the Steam platform for PCs in June.
The next anticipated momentum for Shift Up is the release of Witches Project, expected in 2027. Lee stated, "Shift Up, having rapidly moved toward listing, will likely focus on strengthening its foundation after exhausting the momentum it had been waiting for. In terms of stock performance, the company is expected to take a breather as it focuses on maintaining sales from existing titles until the release of Witches Project."
Lee also noted, "The unexpected supply-demand event in March and the shortening of the momentum period is somewhat disappointing. However, if Nikke's performance outside of China or in the third quarter exceeds expectations, the target price could be revised upwards."
*[KOSPI]Shift Up(462870) is a Korean game development studio with popular mobile and AAA game IPs, including ‘Goddess of Victory: Nikke’ and ‘Stellar Blade.’ Market capitalization is 3.4242 trillion won(as of March 21, 2025, closing price).
Corporate Logo(source: shiftup.co.kr)
Shift Up(462870) is experiencing a decline of more than 2% in early trading on the 24th, following reports of a downgrade in both investment rating and target price by securities analysts.
As of 10:21 AM, Shift Up was trading at 57,100 won, down 2% from the previous session.
The drop in stock price is attributed to a report from Meritz Securities, which lowered its investment rating for Shift Up from "BUY" to "NEUTRAL" and reduced its target price from 90,000 won to 70,000 won.
Meritz Securities analysts believe that the momentum for Shift Up has peaked, citing the Chinese market entry of Goddess of Victory: Nikke and the expansion of Stella Blade to the PC platform as key factors.
Lee Hyo-jin, an analyst at Meritz Securities, commented, "The second quarter is expected to see all events reflected, which will likely lead to increased stock price volatility. Given the stock's forward momentum, the company is passing through the most significant momentum phase in the next two years, which will shift investor focus from new investments to realizing profits from events."
Shift Up received approval for the Chinese release of Goddess of Victory: Nikke in October last year and began its marketing campaign in January. The company is also planning to expand Stella Blade to the Steam platform for PCs in June.
The next anticipated momentum for Shift Up is the release of Witches Project, expected in 2027. Lee stated, "Shift Up, having rapidly moved toward listing, will likely focus on strengthening its foundation after exhausting the momentum it had been waiting for. In terms of stock performance, the company is expected to take a breather as it focuses on maintaining sales from existing titles until the release of Witches Project."
Lee also noted, "The unexpected supply-demand event in March and the shortening of the momentum period is somewhat disappointing. However, if Nikke's performance outside of China or in the third quarter exceeds expectations, the target price could be revised upwards."
*[KOSPI]Shift Up(462870) is a Korean game development studio with popular mobile and AAA game IPs, including ‘Goddess of Victory: Nikke’ and ‘Stellar Blade.’ Market capitalization is 3.4242 trillion won(as of March 21, 2025, closing price).