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Bullboard - Stock Discussion Forum Mogo Inc T.MOGO

Alternate Symbol(s):  MOGO

Financial Services Credit Services Blockchain
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... see more

TSX:MOGO - Post Discussion

Mogo Inc > Raymond James - target $15.00 on MOGO
View:
Post by ndiamond on Jun 01, 2021 11:59am

Raymond James - target $15.00 on MOGO

MOGO INC. (MOGO-TSX | C$9.85)

Acquires Additional Shares in Coinsquare; Now Has Option to Increase Ownership to ~53%

STEVEN LI, CFA  416.777.4918

VIEW FULL REPORT

 

 
 

RATING

Outperform 2

TARGET

C$15.00

SUITABILITY

MA/ACC

MARKET CAP (MLN)

C$684

ESTIMATES

2021E EPS C$(0.49)

 

2022E EPS C$(0.37)
 

 

Mogo acquiring more shares in Coinsquare means it now can increase its ownership to ~53% after exercising its options and warrants. Consolidating Coinsquare will significantly and favorably change Mogo revenue, growth and profitability profile (Coinsquare $8mln revenue in just the month of April, May expected higher, 50% EBITDA margin). However, Mogo would require Coinsquare Board approval. Based on where Coinbase is trading (+ a discount), we calculate there is ~$5.75/share in Mogo stock that can be attributed to Coinsquare with the rest of Mogo trading at 3.6x revenues (vs. fintech peers ~10x multiple).
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Mogo Inc