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    A035420   KR7035420009

NAVER CORPORATION

(A035420)
  Report
End-of-day quote Korea Stock Exchange  -  2022-12-05
185500.00 KRW   -3.13%
04:33aSamsung Electronics and NAVER Team Up To Develop Semiconductor Solutions Optimized for Hyperscale AI
AQ
12/05Naver and Samsung Electronics Joins Hands to Develop Semiconductor Solutions for Hyperscale AI
CI
12/05South Korean shares fall on foreign selling; won hits 5-month high
RE
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Naver Slumps After Announcing $1.6 Billion Poshmark Acquisition

10/04/2022 | 03:43am EST

By Kwanwoo Jun


Naver Corp. suffered its biggest share-price drop in more than seven years Tuesday after what it said was a $1.6 billion deal to acquire U.S. online-fashion reseller Poshmark Inc.

Shares in the South Korean internet giant fell as much as 9.3% to 175,500 won ($122.41)--the biggest daily percentage drop since in July 2015, according to FactSet. The stock closed 8.8% lower, as the broader Kospi market gained 2.5%.

Naver's retreat suggests that investors aren't thrilled with its decision to pay $17.90 a share in cash for Poshmark. The fashion company priced its initial public offering at $42 a share in January 2021, and has since slumped, closing at $15.57 on Monday.

The transaction values Poshmark at about $1.6 billion, including about $580 million of cash reserves, Naver said

But the U.S. company's losses have widened amid slowing revenue growth this year as the pandemic-driven boost to online shopping fades.

Naver has recently been pressured by weakening profit margins amid higher marketing and labor costs. Analysts note that wages and headcount at Naver are rising on the back of new hires and multiple acquisitions, but that its search-platform ads could help it weather the sluggishness in the advertising industry.


Write to Kwanwoo Jun at kwanwoo.jun@wsj.com


(END) Dow Jones Newswires

10-04-22 0342ET

Stocks mentioned in the article
ChangeLast1st jan.
KOSPI COMPOSITE INDEX -1.08% 2393.16 Real-time Quote.-18.72%
NAVER CORPORATION -3.13% 185500 End-of-day quote.-50.99%
POSHMARK, INC. 0.06% 17.84 Delayed Quote.4.70%
All news about NAVER CORPORATION
04:33aSamsung Electronics and NAVER Team Up To Develop Semiconductor Solutions Optimized for ..
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11/22South Korean shares rise on Wall Street, platform stocks boost
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Analyst Recommendations on NAVER CORPORATION
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Financials
Sales 2022 8 195 B 6,21 B 6,21 B
Net income 2022 947 B 0,72 B 0,72 B
Net cash 2022 410 B 0,31 B 0,31 B
P/E ratio 2022 31,3x
Yield 2022 0,39%
Capitalization 27 819 B 21 084 M 21 084 M
EV / Sales 2022 3,34x
EV / Sales 2023 2,83x
Nbr of Employees 4 750
Free-Float 91,3%
Chart NAVER CORPORATION
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NAVER Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends NAVER CORPORATION
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 185 500,00 KRW
Average target price 242 967,74 KRW
Spread / Average Target 31,0%
EPS Revisions
Managers and Directors
Soo-Yeon Choi President, Chief Executive Officer & Director
Nam-Sun Kim Chief Financial Officer
Hae-Jin Lee Global Investment Officer
Ui-Jong Cheong Independent Director
In-Moo Lee Independent Director
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