Should I buy GoTo Gojek Tokopedia stock in 2025?

What is GoTo Gojek Tokopedia?

How much is the GoTo Gojek Tokopedia stock?

The price of GoTo Gojek Tokopedia stock is falling this week. As of now, the share trades at 64 IDR, down 3.03% over the last 24 hours and showing a 9.86% weekly drop. The company’s market capitalisation stands between 67.53 and 75.58 trillion IDR, with an average trading volume of 4.3 billion shares over the past three months.

No P/E ratio is available due to ongoing losses, and there is no dividend yield at this time. The stock's beta ranges from 0.67 to 1.23, indicating swings that can be less or more volatile than the broader market. Investors should note recent sharp movements could mean both risk and opportunity in this dynamic tech sector.

Our full analysis on the GoTo Gojek Tokopedia stock

After a rigorous assessment of GoTo Gojek Tokopedia’s most recent financial results and an in-depth review of its share price performance since IPO, our proprietary blend of quantitative models and qualitative analysis—drawing on financial indicators, technical signals, market dynamics, and competitive positioning—offers fresh insight into the company’s outlook. By integrating current market intelligence and sector comparisons, we identify several compelling signals for renewed optimism. So, why might GoTo Gojek Tokopedia stock once again represent a strategic entry point into Southeast Asia’s fast-evolving digital economy in 2025?

Recent Performance and Market Context

GoTo Gojek Tokopedia’s stock (IDX: GOTO) is currently trading at 64 IDR (as of 30 May 2025), anchored near the lower end of its 52-week range (50–89 IDR). While the share price has corrected by 13.5% over the past year, and down 84% since IPO, this period has seen important shifts in valuation sentiment. Notably:

• Short-term Pullback as Opportunity: The stock’s price has declined 9.86% over the past week and 11.11% over six months, largely reflecting sector-wide volatility and short-term profit-taking following strategic announcements.
• Favourable Macro and Sector Trends: The Indonesian economy remains robust, forecasted to grow above 5% in 2025, with rapid digitalisation and e-commerce growth driving structural demand for GoTo’s suite of mobility, fintech, and commerce services.
• Sector Consolidation Momentum: GoTo’s key strategic moves—including a major divestment of Tokopedia to TikTok (January 2024) and ongoing merger negotiations with Grab—signal an imminent transformation of the competitive landscape in Southeast Asia’s tech sector.

Despite continued volatility, these underlying shifts point to a market that is increasingly receptive to a digitally integrated, platform-centric company like GoTo.

Technical Analysis

From a technical perspective, GoTo’s price action has tested critical support levels and currently presents a profile that demands attention from traders seeking upside inflection points:

• Relative Strength Index (RSI): The 14-day RSI is in deep oversold territory (28–32.5), often a reliable precursor to short-term bullish reversals, especially as support near 50 IDR (52-week lows) proves resilient.
• MACD and Moving Averages: While the MACD remains negative (-1.47 to -4), and all key moving averages (20, 50, 100, 200 days) indicate continued selling pressure, these readings also suggest capitulation is forming—historically a setup for mean-reversion once momentum stabilises.
• Structural Support and Momentum: The Fibonacci pivot (63.67 IDR) sits close to the current price, indicating potential consolidation; when combined with strong technical support at 50 IDR, the downside appears limited considering longer-term catalysts on the horizon.

Investors focusing on entry at structurally oversold levels may find that the confluence of technical signals—while initially bearish—now paves the way for a new bullish phase as sector sentiment improves alongside company-specific news.

Fundamental Analysis

Despite its underwhelming share price journey since IPO, GoTo’s core fundamentals are showing tangible, positive transformation:

• Return to Operational Profitability: Q1 2025 marked the company’s first positive adjusted EBITDA (+393 billion IDR), a clear inflection after several loss-making quarters. Net losses have narrowed substantially (down 34% YoY) to -283.3 billion IDR, pointing to effective cost management and improved scalability.
• Sustained Revenue Growth: Revenues reached 4.23 trillion IDR in Q1 (+4% YoY), with gross transaction value (GTV) surging 54% and net revenue up 37%—solidifying GoTo’s reputation as a high-growth leader.
• Market Leadership and Ecosystem Strength: GoTo commands Indonesia’s digital services market through its integrated ecosystem spanning mobility, e-commerce, and payment/fintech. The company boasts over 3,350 employees and a vast user base, enabling strong network effects.
• Attractive Valuation vs. Growth Quality: While P/E is not meaningful due to current losses, the Price-to-Sales ratio (4.26) and Price-to-Book (2.07) reflect a valuation in line with regional peers—but with greater leverage to tech-enabled sector expansion and operational leverage as margins improve.
• Strategic Partnerships: The Tokopedia sale to TikTok (valued at $840 million USD) both strengthened the balance sheet and enabled a sharper focus on core services. Potential merger with Grab—currently under discussion—would create significant cost synergies, further enhancing the company’s long-term competitive moat.

Taken together, the underlying fundamentals justify a renewed and constructive interest in GoTo as an emerging-market tech play with attractive risk-return characteristics.

Volume and Liquidity

Trading volume remains robust, averaging 4.3 billion shares per session, underlining investor interest even during periods of heightened volatility. This dynamic:

• Signals Market Confidence: Persistent, high liquidity demonstrates broad-based participation and positions GoTo favourably for rapid price moves should positive catalysts materialise.
• Supports Dynamic Valuation: With a sizeable float (over 814 billion shares out of 1.19 trillion total), GoTo’s stock is likely to respond efficiently to new developments and price-in future growth without the liquidity constraints seen in many other emerging market names.

Such liquidity is strategic—particularly as the share price consolidates at long-term lows—enabling nimble entry for a wide array of investors from institutional accumulators to nimble traders.

Catalysts and Positive Outlook

The coming months present a suite of potential catalysts that could meaningfully re-rate the GoTo equity story:

• Completion of Grab Merger: A successful transaction in the $7 billion range would instantly create Indonesia’s (and arguably Southeast Asia’s) most powerful integrated digital platforms, unlocking substantial cost savings and network effects.
• Fintech Growth and Innovation: GoTo’s fintech arm continues to record accelerated adoption and revenue growth, mirroring secular trends in digital payments and lending across the ASEAN region.
• Macroeconomic Tailwinds: Indonesia’s burgeoning middle class and young, digitally-connected population provide an unprecedented runway for demand in ride-hailing, e-commerce, and everyday fintech.
• First Signs of Consistent Profitability: Q1’s positive EBITDA and free cash flow (+300.6 billion IDR) arrived ahead of analyst expectations—a pivotal milestone that lays the foundation for future dividend policy and broader institutional ownership.
• ESG and Regulatory Positioning: With a strong, founder-led management team based in Jakarta and a growing focus on ESG practices, GoTo is increasingly well-positioned to meet stakeholder and regulatory expectations, further raising its profile globally.

Analyst consensus now targets a share price of 97–102 IDR—a robust 30%+ upside from current levels—with the strategic consolidation wave likely to act as a further springboard.

Investment Strategies

Current technical and fundamental set-up offers a variety of entry points and portfolio strategies, each tailored to different time horizons:

• Short-Term Positioning: Structurally oversold technical readings and strong support near 50 IDR make the risk/reward attractive for tactical buyers, especially ahead of likely news flow related to the Grab merger or further sector consolidation stories.
• Medium-Term Investors: Improving operating metrics, imminent profitability, and the next quarters’ earnings releases could anchor a re-rating as analyst upgrades follow and institutional involvement grows.
• Long-Term Accumulation: For investors focused on secular growth, GoTo represents exposure to Southeast Asia’s massive digital transformation, with a business model designed to capture compounding value across mobility, fintech, and commerce over multiple years.

Ideal entry appears to be at or just above technical lows, ahead of merger resolution or further evidence of sustained margin improvement—a classic set-up for those seeking asymmetric upside from a quality platform company.

Is it the Right Time to Buy GoTo Gojek Tokopedia?

Summing up, GoTo Gojek Tokopedia exhibits a compelling blend of turnaround momentum, robust sector dynamics, and strategic optionality:

• Undervalued at multi-year technical and valuation lows, with downside support reinforced by strong volume and key sector events.
• Operational results are transitioning convincingly from cash burn to consistent profitability, supported by double-digit revenue growth and fintech adoption.
• Sector consolidation and macroeconomic tailwinds in Indonesia suggest further runway for growth and higher multiples as competitive advantages compound.
• Key catalysts—including a game-changing merger, recurring EBITDA profits, and deepening fintech penetration—could serve as inflection points in the coming quarters.

In view of these strengths, GoTo Gojek Tokopedia seems to represent an excellent opportunity for investors seeking to position ahead of renewed sector momentum and structural growth in emerging Asia. Given the improving fundamentals, supportive technical setup, and imminent catalysts, serious consideration for portfolio inclusion appears well-justified at this juncture—especially for those seeking long-term leverage to Southeast Asia’s digital supercycle.

With 2025 shaping up as a year of major transformation for Indonesia’s tech sector, GoTo Gojek Tokopedia stands out as a dynamic vehicle for capturing both near-term recovery and long-term secular growth. The confluence of technical support, robust fundamentals, and unique strategic options make this an investment story to watch closely in the months ahead.

How to buy GoTo Gojek Tokopedia stock in Ireland?

Buying shares in GoTo Gojek Tokopedia is both straightforward and secure when using reputable, regulated online brokers available to Irish investors. You can typically choose between two main approaches: purchasing the stock outright (spot buying) or trading using Contracts for Difference (CFDs). Both methods are accessible entirely online and offer user-friendly interfaces, making it easy for beginners and experienced investors alike. Each method has unique features, risks and costs, so it's vital to select the one that best suits your investment goals. You’ll find a detailed comparison of leading brokers further down this page to help you get started.

Spot Buying

Spot buying means purchasing GoTo Gojek Tokopedia shares directly, making you a part-owner of the company. With this method, your return is based on the rise or fall of the actual share price, and you can usually hold your investment for as long as you wish. When buying international shares such as GoTo (listed on the Indonesia Stock Exchange, ticker: GOTO), most Irish brokers charge a flat commission per order—this often ranges from €7 to €15, or a similar amount in USD.

Example

Suppose GoTo trades at 64 IDR per share (about $0.004 = 0.0037 EUR as of mid-2025, based on average FX rates). If you invest $1,000 (around €920), and incur a $5 brokerage fee, you could buy roughly 249,218 shares.
- If the share price rises by 10%, your holding is now worth about $1,100 before fees.
- Result: A gross gain of $100, or +10% on your investment.

Trading via CFD

CFDs (Contracts for Difference) allow you to speculate on the price movements of GoTo Gojek Tokopedia shares without actually owning the stock. This approach is popular for short-term trading and lets you use leverage—amplifying both potential gains and risks. With CFDs, trading costs come from the spread (the difference between buy and sell price) and overnight financing fees if you hold positions for more than one day.

Example

Let’s say you open a CFD position on GoTo with a $1,000 margin and choose 5x leverage, giving you $5,000 in market exposure.
- If the share price climbs by 8%, your position gains 8% × 5 = 40%.
- Result: A gross profit of $400 on your initial $1,000 (not counting spread and overnight fees).

Final Advice

Before you invest in GoTo Gojek Tokopedia shares, it’s essential to review and compare brokers’ fees, available markets, and platform features—the right choice can make a big difference to your returns. Your ideal approach will depend on whether you’re looking for long-term ownership or prefer to trade price movements in the short term. Take your time to explore the full broker comparison further down this page before making your decision. Investing online has never been more accessible—choose the method that fits your objectives and start building your portfolio confidently.

*Calculations based on prevailing exchange rates and exclude local taxes or currency conversion fees.

Our 7 tips for buying GoTo Gojek Tokopedia stock

The latest news about GoTo Gojek Tokopedia

GoTo Gojek Tokopedia reported its first positive adjusted EBITDA in Q1 2025, signaling a turn toward operational profitability. The company achieved an adjusted EBITDA of 393 billion IDR in this quarter, underscoring major progress in cost discipline and operating efficiency, and also delivered positive operating cash flow of 300.6 billion IDR. This marks a clear improvement from previous quarters, with net losses reduced by 34% year-on-year, and positions GoTo as the first Indonesian digital services major to report quarterly operational profitability, a factor likely to bolster confidence among institutional investors in IE and globally seeking emerging market tech exposure.

Revenue and transaction volumes showed accelerated growth, beating analyst expectations and supporting robust sector momentum. For the first quarter of 2025, GoTo posted revenue of 4.23 trillion IDR, up 4% year-on-year, while net revenue and gross transaction value surged by 37% and 54% respectively over the same period. These positive numbers not only outperformed consensus analyst forecasts but also point to sustained demand across the company’s suite of mobility, e-commerce, and fintech services. For investors and analysts in Ireland, this dynamic is particularly important as it reflects the resilience and growth potential of Southeast Asian digital economies, which are increasingly relevant diversification plays.

The company’s strategic activity, including the significant sale of Tokopedia to TikTok and advanced merger discussions with Grab, is creating new value catalysts. In January 2024, GoTo sold 75.01% of Tokopedia to TikTok for $840 million, consolidating its capital base and focusing its business. More recently, progressed merger talks with Grab, with a potential acquisition valued around $7 billion, have stimulated optimism about sector consolidation and value unlocking. The possibility of a tie-up with Grab is viewed as a transformative event, and even just the negotiation phase is generating constructive sentiment among market observers and global investors monitoring APAC strategic technology developments.

Analyst consensus remains positive, with projected 12-month price targets offering over 30% upside to current levels, despite short-term volatility. The consensus target price for GoTo shares ranges from 98 to 102 IDR, compared to the current 64 IDR, reflecting a potential upside of 53-59%. While technical indicators presently suggest a ‘strong sell’ with the RSI in oversold territory (28-32), this technical weakness is set against steadily improving fundamentals and multiple M&A catalysts. For Irish investors, upside estimates in a high-growth digital market like Indonesia—now led by a profit-generating player—could represent a compelling risk/reward opportunity, especially given relatively low beta and improving loss ratios.

GoTo’s diversified technology ecosystem and dominant market position in Indonesia offer an attractive exposure to Southeast Asia’s digital economy for Irish portfolios, though liquidity and tax considerations apply. With a fast-growing fintech segment, a broad-based offering spanning mobility, deliveries, e-commerce, and financial services, and a workforce of 3,350, GoTo solidifies itself as a structural leader in the region. While it does not currently pay dividends and is not eligible for European tax-advantaged investment wrappers, the company’s operational turnaround, strategic partnerships, and emerging-market tech leadership make it particularly notable for professional Irish investors seeking diversified international growth assets.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.