GoTo cancels 32.19 billion shares. UOB cuts target to IDR 60.00 for GoTo stock

Published on 10/19/2026 at 11:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached IDR 5.65 trillion, up 31.00 percent year over year. GoTo stock was valued at IDR 25.6 trillion on October 19, 2026.

Treasury shares and analyst view

Shareholders approved the cancellation of 32.19 billion treasury shares on October 14, 2026.
Second-quarter revenue rose 31.00 percent year over year to IDR 5.65 trillion.
UOB Kay Hian cut its target from IDR 78.00 to IDR 60.00 on September 28, 2026.

GoTo, ID1000166903, Illustration mit AI erstellt.

GoTo (ISIN ID1000166903) secured approval on October 14, 2026, to cancel 32,186,417,803 treasury shares, according to Warta Ekonomi. In a September 28, 2026 report, UOB Kay Hian maintained its Buy rating while cutting its target from IDR 78.00 to IDR 60.00.

Three steps shaped the story

On September 22, 2026, GoTo published the agenda for its extraordinary shareholder meeting, including the proposed cancellation of more than 32 billion treasury shares, according to the GoTo release. On September 28, UOB Kay Hian reported that the company was maintaining adjusted full-year EBITDA guidance of IDR 3.2 trillion to IDR 3.4 trillion. On October 14, shareholders approved the cancellation and accepted Vice President Director Catherine Hindra Sutjahyo's resignation, Warta Ekonomi reported.

What does the cancellation change?

The retired shares represented 2.7 percent of GoTo's outstanding shares, according to Tempo. The arithmetic matters because a smaller share count can raise each continuing holder's proportional ownership, although the accounting action does not by itself change operating revenue or cash generation.

Profitability adds operating context

GoTo's second-quarter 2026 revenue was IDR 5.65 trillion, up 31.00 percent from the same quarter a year earlier, while net income reached IDR 252.51 billion, according to FinancialFilings. Adjusted EBITDA exceeded IDR 1.00 trillion in that quarter, giving the target revision a clear counterpoint in the latest reported operating data.

IDX price and valuation context

GoTo's last available IDX quote was IDR 24.00 on October 19, 2026 at 4:14 p.m. WIB. Its market capitalization was IDR 25.6 trillion on the same date, while its 52-week range was IDR 23.00 to IDR 73.00. UOB Kay Hian's IDR 60.00 target remains a dated analyst assessment rather than a forecast from this article.