GOTO Finally Turns a Profit: See Analyst Recommendations

JAKARTA, KOMPAS.com - PT GoTo Gojek Tokopedia Tbk (GOTO) has announced its first net profit in history for the first quarter of 2026. GOTO recorded a net profit of Rp 171 billion for January to March 2026. Operationally, the technology issuer achieved an adjusted Group EBITDA of Rp 907 billion for the previous quarter. The adjusted Group EBITDA increased 131% year-on-year (yoy). GOTO’s performance was supported by two increasingly profitable business units, namely On-demand Services (ODS), better known as Gojek, and Financial Technology (Fintech), which oversees the GoPay brand, both recording revenue growth and profits. Meanwhile, ODS business unit revenue grew 12% yoy to Rp 3.4 trillion. The adjusted EBITDA reached Rp 439 billion, up 40% yoy. The revenue and profitability growth in ODS was also supported by the performance of the upper-middle (affluent) segment. GOTO reported that the group with very high spending transacting on the Gojek platform grew 18% yoy. Meanwhile, the premium food delivery service business through GoFood Express that was successfully completed increased 84% yoy. Indo Premier Sekuritas analyst Ryan Winipta has assigned a ‘Buy’ recommendation for GOTO shares with a target price of Rp 110. “Our ‘Buy’ rating is supported by the sustainable increase in adjusted EBITDA and a stronger path to profitability,” he stated in his research on Wednesday (29/4/2026). In addition, several analysts from foreign securities firms such as Citi, UBS, and Jefferies have also issued ‘Buy’ recommendations. Citi has set a target price for GOTO at Rp 110, Jefferies at Rp 80, and UBS at Rp 100.