TSX:MOGO - Post Discussion
Mogo Inc
> Raymond James - $15 share price target on MOGO
Post by
ndiamond on May 13, 2021 8:40pm
Raymond James - $15 share price target on MOGO
|  |
| CANADA RESEARCH PUBLISHED BY RAYMOND JAMES LTD. |
| |
| MOGO INC. (MOGO-TSX | C$8.08) Solid 1Q, Market Missing Coinsquare Investment Implications STEVEN LI, CFA 416.777.4918 | | VIEW FULL REPORT | | | | | | RATING | Outperform 2 | | TARGET | C$15.00 | | SUITABILITY | MA/ACC | | MARKET CAP (MLN) | C$561 | | ESTIMATES | 2021E EPS C$(0.49) | | | 2022E EPS C$(0.37) | | | | Solid 1Q, but more important are the implications of the Coinsquare investment (increasing to 37%, option to go to 48%). Given this option, we expect them to be > 50% later this year when they can start consolidating Coinsquare. In just the month of April, Coinsquare generated $8 mln in revenues and $4 mln in EBITDA. Consolidating Coinsquare will significantly and favorably change Mogo revenue, growth and profitability profile. We calculate there is ~$6/share in Mogo stock that can be attributed to Coinsquare. With Mogo shares trading down today with other crypto names, we calculate the rest of Mogo is trading at 1.1x revenues (vs. fintech peers ~10x multiple). | | | |
Be the first to comment on this post