Mogo Inc T.MOGO

Alternate Symbol(s): MOGO

Mogo Inc. is a Canada-based digital finance company. The Company provides simple digital solutions to help them in building wealth and achieve financial freedom. Its trade app, MogoTrade, offers lowest cost way to invest while making a positive impact with every investment. The Company also offers digital loans and mortgages. Through its wholly owned subsidiary, Carta Worldwide, the Company also offer a digital payments platform that powers card programs for both established global corporations and fintech companies in Europe and Canada.

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Mogo Inc > Raymond James increases target to $7.50

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Post by ndiamondon Jan 08, 2021 10:49am

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Post# 32253554

Raymond James increases target to $7.50

MOGO INC. (MOGO-TSX | C$6.10)

Bitcoin Activity Update; Updating Model To Include Carta, Bitcoin

STEVEN LI, CFA 416.777.4918

VIEW FULL REPORT

RATING Outperform 2

TARGET C$7.50

SUITABILITY High Risk/ Growth

MARKET CAP (MLN) C$335

ESTIMATES 2021E EPS C$(0.32)

2022E EPS C$(0.16)

With the Carta acquisition about to close, we are updating our model to now include Carta. We also now model a small BTC revenue contribution in F2021 given ongoing momentum that Mogo is seeing with new account additions and BTC trading volume. Given the valuations where the few crypto stocks are trading (~20x revenues) and they are mostly miners, Mogo could increasingly become seen as another way to play BTC at a significantly lower relative multiple with upside from its consumer app/digital payments business.

January 8, 2021