GOTO 2Q24 Results: Margin Outlook Remains Intact
What’s New: GoTo reiterated its adjusted EBITDA breakeven guidance as the group could potentially reinvest any profit back to the business. ODS and FinTech growth could also trend better in the 2H. We lower our PT from IDR65 IDR55 to account for the potential share-sale overhang of some of the existing shareholders. Our updated PT of IDR55 implies a 2.7x FY25E EV/Revs (net). We maintain our NEUTRAL rating.Analysts:
Jin Yoon
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