Society Pass Stock Skyrockets 275% on Bullish Analyst Report
Ascendiant Capital Markets reiterates a 'Buy' rating, citing significant undervaluation and projecting a potential 1,460% upside for the e-commerce firm.
Shares of Society Pass (SOPA), an e-commerce ecosystem focused on Southeast Asia, experienced a meteoric rise of over 275% in recent trading. The surge followed a highly optimistic report from Ascendiant Capital Markets, which reiterated its 'Buy' rating and increased its price target, suggesting the stock is significantly undervalued.
The rally was ignited after the investment firm issued a positive equity research report, boosting its 12-month price target on Society Pass to $18 per share. This new target implies a staggering 1,460% potential upside from the stock's recent trading levels, catching the attention of investors and fueling a massive spike in trading volume.
Driving the bullish sentiment is the company's strong financial performance and strategic successes. Society Pass reported second-quarter revenue of $2.5 million, a 46% year-over-year increase that beat analyst estimates by 67%. More impressively, the company posted a surprise profit with an earnings per share of $0.10, shattering expectations of a $0.24 loss. , highlighting a market capitalization of just $5 million against an estimated $29 million in cash reserves.
A significant portion of this cash position comes from the recent successful IPO of its subsidiary, NusaTrip. The travel platform began trading on the Nasdaq under the ticker NUTR, raising $17 million. Society Pass retains an approximate 75% stake in NusaTrip, a holding valued at around $100 million. The company is also expected to pursue an IPO for another subsidiary, Thoughtful Media, by the end of 2025.
. With a burgeoning e-commerce market in Southeast Asia and a robust growth strategy, the firm's collection of digital platforms presents a compelling, high-risk, high-reward opportunity for investors looking for exposure to the fast-growing region.