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[Alpha Biz=(Chicago) Reporter Paul Lee] Korea Investment & Securities maintained its investment opinion on Kakao Pay at 'neutral' on the 14th. This is because there is a burden of valuation (the level of stock price compared to performance). He also suggested that it would not be too late to invest after profitability improves, such as turning into a surplus.
"Kakao Pay's sales are steadily increasing, but its valuation (stock price compared to performance) is higher than that of global fintech firms," said Korea Investment & Securities. "Profitability will gradually improve from next year, and it is not too late to check this trend and buy it gradually."
Korea Investment & Securities forecast Kakao Pay's second-quarter sales to be 163.1 billion won, up 21.6 percent from a year earlier. The operating loss was estimated at 4.8 billion won. It is lower than the estimated average of the stock market (operating loss of 7.8 billion won).
"Kakao Pay transactions in the second quarter will rise 18.3% to KRW 34.4 trillion compared to the same period a year earlier," Korea Investment & Securities said. "The amount of payment-related transactions will also maintain a solid trend both online and offline." "Loan-related sales will recover, and Kakao Pay Securities' retail (retail) sales will also increase, which will improve the performance of its financial business division," he predicted.
This year, Kakao Pay set a target of 15-20% year-on-year transaction growth and 20-30% sales growth.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
