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Matt Chesler
Jan 05, 2026 8:57PM ET
The Oak Ridge boyz just raised $MRT's target price from $5.00 to $6:00:
Marti operates in one of the most populous countries in Europe, Türkiye. With a population of approximately 85M, of which ~71% are below the age of 50 years, the Turkish economy has seen strong economic growth. However, a limited number of taxi licenses issued by the government, an underdeveloped public transportation infrastructure, and a high cost of car ownership have led to what is now a mobility crisis.
We believe that Marti’s Turkish business roots, first-mover advantage, and operational “grey area” may allow the Company to gain rapid adoption within the potentially expansive Turkish ride-hailing market. Combined with its monetization strategy, we believe there is a path toward profitability for Marti.
We affirm our buy rating and raise our Price Target to $6.00 from $5.00 for Marti Technologies, Inc. This valuation is based on a broad look at publicly traded companies and precedent transactions that operate in the ride-hailing business or are considered “Super Apps”. The peer group averages a FY27 EV/Adj.EBITDA multiple of 15.00x (previously 16.50x); however, we believe that MRT’s first-mover advantage garners a premium to the peer group. As a result, we maintain a 16.50x FY27 EBITDA multiple which, after using a 13.6% discount rate (previously 16.25%), results in a price target of $6.00.
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