Analyst Scott Buck from H.C. Wainwright maintained a Buy rating on Mogo Finance Technology and keeping the price target at $4.00.
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Scott Buck has given his Buy rating due to a combination of factors that position Mogo Finance Technology for potential growth and share appreciation. A significant catalyst is the company’s strategic shift towards cryptocurrency, particularly through the monetization of its stake in WonderFi Technologies, which is expected to provide funds to invest in Bitcoin. This aligns with Mogo’s new Bitcoin strategy, which sets a high hurdle rate for new investments, potentially driving significant returns.
Additionally, Mogo’s plans to integrate cryptocurrency trading into its new wealth platform by 2026, along with the exploration of stablecoins in its payment processing, highlight its commitment to leveraging the growing demand for cryptocurrencies. The company’s introduction of a new wealth app, IntelligentInvesting.AI, which combines stock and crypto trading, further differentiates it from peers. These strategic moves, coupled with expected revenue growth in 2026, underpin Buck’s recommendation to accumulate MOGO shares ahead of these developments.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MOGO in relation to earlier this year.