Mogo Inc Stock Forecast Price and Predictions Target Canada

Welcome to another price prediction post by cryptoblackmoney.com, Here in this article, we will provide complete information about Mogo Inc Stock Forecast Price and Predictions Target Canada. Today we will analyze the Mogo Inc Stock with both analyses, i.e Technical & Fundamental analysis.

As of 2022 October 27, Thursday current price of Mogo Inc Stock is 0.860$ and our data indicates that the asset price has been in a downtrend for the past 1 year (or since its inception).

Mogo Inc Stock (Sub Voting) stock price has been showing a declining tendency so we believe that similar market segments were not very popular in the given period.

Our site uses a custom algorithm based on Deep Learning that helps users decide if Mogo Inc Stock could be a good portfolio addition. These predictions take several variables into accounts such as volume changes, price changes, market cycles, and similar stocks.

The future stock price is predicted at 3.1742592687564$ (269.1% ) after a year according to our prediction system.
This means that if you invested $100 now, your current investment may be worth 369.1$ on 2023 October 27, Friday.

This means that this stock is suited as a new addition to your portfolio as bullish trading markets are always a lot easier.

Mogo Inc Stock Forecast Price and Predictions Target Canada 2022-2023

The consensus among 2 Wall Street analysts covering (NASDAQ: MOGO) stock is to Strong Buy MOGO stock.

Out of 2 analysts, 1 (50%) are recommending MOGO as a Strong Buy, 1 (50%) are recommending MOGO as a Buy, 0 (0%) are recommending MOGO as a Hold, 0 (0%) are recommending MOGO as a Sell, and 0 (0%) are recommending MOGO as a Strong Sell.

What is Mogo’s average price target according to analysts?

Mogo Inc Stock Forecast Price and Predictions The 4 analysts offering 12-month price forecasts for Mogo Inc have a median target of 3.47, with a high estimate of 4.00 and a low estimate of 2.55. The median estimate represents a +315.71% increase from the last price of 0.84.

Mogo Inc Stock Forecast Analyst Recommendations

The current consensus among 4 polled investment analysts is to buy stock in Mogo Inc. This rating has held steady since July, when it was unchanged from a buy rating.

What is Mogo and how does it work?

Summary

• Mogo is focusing on its upcoming stock trading app: MogoTrade — a free stock trading app that should draw in new members.
• It continues to lose money but management has always focused more on growth than profit.
• The stock price is very volatile and it does not truly reflect how Mogo’s business has evolved and grown.
• Man using mobile smart phone with global network connection, Technology, innovative and communication concept.

Mogo (NASDAQ:MOGO) is a Canadian-based fintech company that provides digital solutions to consumers. With the round of acquisitions behind Mogo, the company is now beginning to integrate and expand its product offerings.

I remain bullish on the company and the niche that it operates in. I see strong growth in Canada’s fintech sector and Mogo will play a big role in it.

The Financials Look Better But Still Unprofitable

Mogo posted a large gain in Q2-2021 and the gain is mainly attributable to the revaluation of the Coinsquare warrants:

initial 19.99% investmetn, total initial transaction and total revaluation

By excluding one-time adjustments and focusing solely on operations, Mogo continues to be unprofitable and had lost almost $10M:

Mogo revenue

I’m not worried though.

The company is in a growth phase and it’s still building out its products and services. In the middle of a pandemic, it made several acquisitions and financed them with new equity. This shows the investment community believes in what Mogo is doing.

Also, I have been tracking its quarterly financials since March 2015 and in all of those quarters, Mogo has been unprofitable. But through it all, it manages to raise new cash to continue its operations.

In looking at the F Score, Mogo is in a stronger financial position today than it was 2 years ago (pre-pandemic):

mogo financials

An F-score of 9 shows the company is in a strong financial position and a score of 1 implies the company is in a weak financial position. Mogo went from a low score of 2 in 2019 to a score of 6 at the end of 2020. Mogo ended the quarter of Q2-2021 with a score of 5.

Its gross margins are improving and management has stated its recurring revenue has grown from a year ago. Also, with new products such as MogoTrade and peer-to-peer (P2P) in the pipeline, revenue will only grow from here.

MogoTrade: Big Push Into DIY Investing

Based on Mogo’s most recent earnings transcript, management is very keen to see it launch its free stock trading app, MogoTrade, in Q4 of this year. Mogo is dedicating all its resources to get the app ready this year. With the acquisition of Fortification closing soon, this should clear any regulatory hurdles for the MogoTrade app.

Other plans also include bringing crypto trading capabilities into the app. Mogo anticipates this to be a $100 million revenue driver in 3 – 5 years after the app launches.

There is research to support the strong demand for such a stock trading app. Research from the Ontario Securities Commission (OSC) shows the number of new self-directed investing accounts has grown. Also, the demographic profile shows 26% of these investors are from the ages of 18 to 34 (Most of Mogo’s members are in this age category). A further 23% of the demographics are retirees and this is the age group that supposedly has the most wealth.

Mogo already has an existing 1.5 million members so the company isn’t starting from scratch in building a client base for MogoTrade. Already, there is a natural advantage here compared to other online stock trading apps.

The one area that is not talked about is how Mogo will be monetizing MogoTrade. Management is targeting $100 million in revenues but the stock trading app will be free. Mogo is currently charging a fee for trading Crypto so perhaps some of that revenue will come from trading Crypto.

The Demand for Digital Banking has Grown

In the past several months there has been a growing demand for digital banking, and this has led to more branch closings. Since 2012, the number of bank branch numbers has fallen by 6.5%. TD Bank is planning to close 82 of its branches in the US and allocate more resources to its online banking platform.

As more banks focus on their online products and services, this puts Mogo at an advantage because Mogo has been building its app and improving on it since half a decade ago.

The one downside is the big 5 banks in Canada have a lot of resources so any one of them can outspend Mogo. One of these banks could even make Mogo an acquisition target (which I had mentioned a few years ago). But the probability of this happening is low since the banks are more interested in high margin businesses and Mogo isn’t exactly a cash flow producing machine yet.

Longer Waiting Game than Most Investments

There is an article written on Inc. that summarizes Mogo’s strategy. To summarize, the article explains why it’s okay to focus on growth and not profitability in the early period of a startup. The company can lose money but it’s okay because management is thinking long-term. FedEx, Tesla, and Amazon were not profitable for many years before finally becoming leading brands.

I think this is true for Mogo. Back in late 2018, Mogo decided to move away from the lending business which was lucrative because of the high fees, but it exposed the company to a lot of financial risks.

In the past year, it spent resources and capital acquiring the right companies to build its stock trading platform. It is also planning to launch a future P2P product. Take a look at what is on the market today and there isn’t a competitor that is close to doing what Mogo is doing.

Mogo is a Volatile Stock

For much of 2018 and into 2020, Mogo had largely traded below $3.50. Not long after that, the stock price skyrocketed because of its closer association with bitcoin. Since then it has been trending downwards to the mid-$4.

A lot of this price movement is not reflective of how the company is performing, and this makes Mogo is a volatile stock. Its beta (a measure of a stock’s volatility in relation to the overall market) is 3.89:

Mogo stock price

In the past 5 years, Mogo has created an app that has attracted over 1.7 million members. It has been making improvements to the app by adding new products and features. Yet the Mogo’s stock price continues to fluctuate irrespective of how Mogo has been improving. Even with the price fluctuations, I do see the stock price gradually trending upwards in the longer term.

Overall, MogoTrade may turn out to be a flop (I doubt it), but I like how quickly management is willing to pivot towards new opportunities. I also like how Mogo is not afraid to take risks (moving away from the lending business). The company isn’t profitable but its business fundamentals have improved.

Which company owns Mogo Inc Stock?

 Mogo Inc Stock company owns Equator Beverage Co. engages in the production, marketing, distribution, and sale of beverages. It produces MOJO pure coconut water, sparkling coconut water, coconut water peach mango juice, and coconut water pineapple. The company was founded in 2007 and is headquartered in Jersey City, NJ.

Mogo Inc Stock company Profile Business Description

Mogo Inc Stock company. is a Vancouver-based company, founded in 2003 by David Marshall Feller. The company offers high interest loans, “identity fraud protection”, mortgages, a Visa Prepaid Card, and credit score viewing through Equifax for select customers.

Mogo had an initial public offering on the Toronto Stock Exchange in June 2015. In January 2016, Mogo made a deal with Postmedia to exchange a percentage of profits for free newspaper ads. In January 2017, the company began offering mortgages.

In January 2021, Carta was acquired by Mogo Financial for 10 million Mogo shares valuing the transaction in excess of $100 million. CAD.

Mogo Inc is a Canadian-based financial technology company. It offers a finance application to consumers with solutions that help them to control their financial health.

At Mogo, users can sign up for a free account and get access to products and solutions that help users to monitor their credit score, protect themselves from identity fraud, control their spending, and borrow responsibly.

Some of its products are personal loans, crypto, mortgage, credit score, and others. Mogo is one of the go-to financial applications for Canadians with more than one million members.

Mogo Inc Stock company Contact 
Contact
2100 – 401 West Georgia Street
Vancouver, BC, V6B 5A1, Canada
T +1 604 659-4380
investors@mogo.ca

Sector
Technology

Industry
Software – Infrastructure

Most Recent Earnings
Jun 30, 2022

Fiscal Year End
Dec 31, 2022

Employees
350

Frequently Asked Questions (FAQ)