The analysts highlight that GoTo’s adjusted ebitda target is in-line with Shopee and ahead of Grab — both of which have strong presence in more profitable markets outside of Indonesia.
Analysts at CGS-CIMB Research, Mandiri Sekuritas and UBS Securities are positive on GoTo following the company’s announcement on Feb 16 that it is accelerating its profitability targets.
GoTo aims to achieve positive adjusted ebitda by 4QFY2023, five quarters faster than Mandiri’s analysts Adrian Joezer and Ryan Aristo’s 1QFY2025 forecast. Meanwhile, the positive contribution margin target to be achieved in 1QFY2023 is four quarters faster than the analysts’ 4QFY2023 forecast. Mandiri has kept their “buy” call with a target price of 230 rupiah.
