Mogo Inc. (NASDAQ: MOGO) is a Canadian financial services company. Through an innovative smartphone application, it offers services to improve consumer financial wellness, including credit score monitoring, budgeting tools, identity fraud protection, and digital banking with a prepaid card on the VISA network. Rapid customer growth could send the stock price upwards.
Mogo’s base service is offered free of charge, while premium products like bitcoin trading, credit services, and prepaid card services create revenue. Sales are expected to increase by 28.21% over the next year, and the stock is believed to be trading close to 80% below its fair market value.
The demand for consumer credit and financial management services is likely to increase as the global economy recovers from the Coronavirus Pandemic. This puts Mogo in a strong position to market its services and drive revenue. The average target price of $12.10 suggests a reasonable upside for new investors, while the high-end target of $16.00 makes this one of the most promising picks in March.
- 1 Year Price Growth: 1,179.75%
- YTD Price Growth: 17%
- 3 Month Price Growth: 62%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.