GOTO 3Q24 Results: Business to Sequential Improve in 4Q
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 4Q compared to 3Q partly due to seasonality despite near-term macro headwinds. We up our PT from IDR55 IDR70 on improved outlook. Our updated PT of IDR70 implies a 3.61x FY25E EV/Revs (net). We maintain our NEUTRAL rating.Analysts:
Jin Yoon
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- Pan European Telecom Services and Cable
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