035420:KRXNAVER Corporation Analysis

NAVER shares are trading at KRW 194,700, well below the 20‑day SMA of KRW 215,170 and the 200‑day SMA of KRW 236,328, indicating a technical pull‑back. The RSI of 39 suggests the stock is approaching oversold territory, while a bearish MACD histogram reinforces short‑term downside pressure. Despite the bearish price action, the company posted a robust 16.3% revenue growth and maintains a healthy operating margin of 16.7%, supporting a forward P/E of 13.2 versus an industry average of 16.8, which points to relative cheapness. A discounted cash‑flow model values the business at roughly KRW 276,000, implying more than 50% upside from current levels. Cash on hand (≈KRW 8.96 trillion) comfortably exceeds total debt, and a dividend yield of 1.34% with a 21.9% payout ratio appears sustainable. However, the stock exhibits high 30‑day volatility (~94%), decreasing volume, and a beta near market, suggesting elevated market risk and liquidity concerns.