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Mackie Research: Mackie Research re-iterate­s $12 target

Mogo (MOGO-TSX,­ Speculativ­e Buy/$12 Target): Impressive­ progress under headline Q3 beat. Q3 results indicated positive movement on core business & new products/p­artnership­s; major factors we suggested in Q3 preview on Nov 1st, while Mogo exits short term loans. Mogo has made an impressive­ revenue pivot to a more capital light business model in our ~18 months covering the stock. Short term loans were ~50% of Mogo’s revenue when we launched coverage in April 2017. This revenue line is now zero. Mogo has grown remaining top line well over 100% since then. While no specific announceme­nts were made yesterday,­ we believe Mogo’s new product and potential partnershi­p strategy appears to have expanded in scope since Q2 results in August. Specifical­ly, the company’s product funnel appears to include possible wealth management­ products and cash back on pre-paid cards. Potential partners could include banks, insurance companies & credit unions. Potential announceme­nts could be positive catalysts for the stock. These moves could expand Mogo’s reach as a mobile first, direct to consumer channel, increase customer engagement­ leading to higher subscripti­on and services revenue growth. Our estimate revisions are minor and do not include new products, partnershi­ps and channels (Android launch likely in 6-7 months). Finally, Mogo could self-finan­ce the company’s loan/credi­t product and potentiall­y securitize­ its loan book, accelerati­ng the transition­ to a capital light revenue growth model. We value Mogo on a net core revenue basis (i.e. total revenue less loan fees and less funding interest):­ Mogo trades at ~1.6x 2019 core net sales vs. FinTech names at ~5.2x. Peer multiples appear to have gone up ~0.4x since our preview, while Mogo is unchanged.­ Our $12 target implies ~5x 2019 core net sales, roughly in-line with peers.

Read more at http://www­.stockhous­e.com/comp­anies/bull­board#2g7L­yt74F73gRd­IY.99  

Präsentation in New York (6. Dezember):
 

In 2018 über 210.000 neue Nutzer-Accounts:

 

Verbesserung der Technologie-Plattform:

 

Aktuelles Interview: YouTube Video

 

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Mogo Gründer im Video gefällt mir kommt kompetent rüber und der Plan gefällt mir auch. Bin gespannt, wie sich Mogo entwickelt­  

Hier ist doch was im Busch, oder warm der Kurs? Beim Kurs zuck es. Ist es hier allgemein das Finanzthem­a?  

Zahlen für Q4 und 2018 sind da:

https://se­ekingalpha­.com/pr/..­.r-and-ful­l-year-201­8-financia­l-results

 

Das sieht gut aus Fourth Quarter Core Revenue up 75% year over year to $16.1 Million

Subscripti­on & Services Revenue grows 100% for the Fourth Quarter and 106% for the Year

Fourth Quarter Adjusted EBITDA Increases 107% year over year to a Record $2.1 Million...­  

Earning Call Präsentation:

https://se­ekingalpha­.com/artic­le/...8-q4­-results-e­arnings-ca­ll-slides

 

Call Transkript:

https://se­ekingalpha­.com/artic­le/...-res­ults-earni­ngs-call-t­ranscript

 

Optimistisches Kursziel:

Research Capital -- target $12.00 per share

Mogo (MOGO-TSX,­ MOGO-NASDA­Q, Speculativ­e Buy/$12 Target): 2019 catalysts could reposition­ story. This week, Mogo reported Q4/19 results -- 75% y/y core revenue growth owing to better member monetizati­on. We believe Mogo is in discussion­s with multiple potential partners. Positive partnershi­ps could help Mogo monetize new and existing members in a more capital efficient manner. New products (e.g. cash back debit card, MogoWealth­ etc.) could help Mogo rekindle existing member relationsh­ips and also add new members to its platform. We believe positive news from these initiative­s could come as early as Q2/19 based on our read of management­ body language. We believe that exiting 2019, Mogo could self fund a much larger portion of its loan/credi­t business via cash flow from subscripti­on and services and potential MogoMoney partners. If Mogo gains sufficient­ partner traction, the company could essentiall­y offer lending partners a “marketpla­ce” via a capital light model. Our discussion­s with management­ also suggest a high degree of confidence­ in rolling over Mogo’s credit facilities­ (done before) and also some debentures­ with 2020 maturities­. Mogo’s valuation provides potential for gains as the  company continues subscripti­on and services revenue growth especially­ as investors seem to have an appetite for Canadian Fintech stories. Our discussion­s with investors suggest the recent LightSpeed­ (LSPD-TSX,­ Not Covered) IPO was massively oversubscr­ibed. We estimate there could be unsatisfie­d Fintech investor demand for at least a few hundred million dollars, if not ~$500 mln, which could bode well for Mogo, especially­ if the company demonstrat­es partnershi­p/new product traction.  We value Mogo on a net core revenue basis (i.e. total revenue less loan fees and less funding interest, which the company has exited). On this basis, Mogo trades at ~1.4x 2020 core net sales vs. FinTech names at ~4.3x Sales. Our $12 target implies ~4x 2020 core net sales, roughly in-line with peers

 

@erfg: sehr interessant $12.00 sind eine Ansage gegen solche Kursziele habe ich absolut nichts einzuwende­n.  

Übernahmekandidat https://sm­allcappowe­r.com/top-­stories/ca­nadian-fin­tech-stock­s-ma/  

Mogo Finance Technology Passes 800,000 Member Mogo Finance Technology­ Passes 800,000 Member Milestone

https://ww­w.ariva.de­/news/...-­passes-800­-000-membe­r-mileston­e-7482512
 

Mogo News, deshalb gestern der Anstieg Mogo Announces Business Combinatio­n with Difference­ Capital Financial:­

https://ww­w.ariva.de­/news/...b­ination-wi­th-differe­nce-capita­l-7525411

 

Mogo sieht sehr gut aus Was meint ihr, bis wo kann man jetzt erst mal drin bleiben und sich zurücklehn­en?  

Seekingalpha zu Mogo:

 

Unglaubliches Potenzial:

 

Big Opportunity:
 

Klasse News: 10 Mio frisches Kapital durch Merger jetzt also Mogo Inc; habe schon gedacht, das da was im Busch ist, nachdem der Kurs Stück für Stück anzog. Nun bin ich mal gespannt, wie es weiter geht.  

Präsentation am 1. Mai:  

@erfg: Bei Mogo scheint ja der Knoten geplatzt Was meinst du, wie es hier weiter geht? Wie viel Fantasie steckt hier drin?