New Street Research - Gojek Tokopedia Tbk PT (GOTO) GOTO 2Q23 Results: Profitability Target Intact

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New Street Research

Jin Yoon

GOTO 2Q23 Results: Profitability Target Intact

What’s New: GoTo reiterated its positive group adjusted EBITDA target within 4Q23 despite competitors pivoting to growth. We lower our PT from IDR115 to IDR100 amid lower top-line expectations in the 2H. Our revised PT of IDR100 implies a 4.7x FY24E EV/Revs (net). We maintain our NEUTRAL rating.

Analysts:
Jin Yoon

17/08/2023 1 EN

Underlying

Gojek Tokopedia Tbk PT

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
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Global Emerging Market Telecoms
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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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GOTO 2Q23 Results: Profitability Target Intact

GoTo Gojek Tokopedia (GOTO IJ) - EBITDA Resilience Back In Focus As M&A Noise Fades

Indonesia Daily - Thursday, June 26, 2025

Regional Morning Meeting Notes: Thursday, June 26, 2025

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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