via NewMediaWire - Ascendiant Capital Markets LLC
(“
Ascendiant”) initiates equity research coverage on
Society Pass Inc. (Nasdaq: SOPA) (“
SoPa” or
the “
Company”
).
Click Here (on Society Pass website) or Here
(on Ascendiant Capital Markets website) to view the full Ascendiant
Capital Markets Equity Research Report.
Summary Points:• Initiation of
research coverage: SOPA is building the next
generation, data-driven, fintech, and e-commerce digital platform
in Southeast Asia (“SEA”). Ascendiant initiates coverage
of SOPA with a BUY rating and a 12-month price target of
$3.50.
• US$ billion market
potential: Ascendiant believes growth prospects
drive approximate billion dollars market potential.
• Loyalty platform: SOPA’s
ecosystem of technology-enabled companies synergistically work
together to transform how consumers and merchants interact with one
another through generation of customer loyalty, ease of
transaction, and revenues for merchants. As more merchants and
consumers in SEA register on SOPA platform, more transaction data
is generated, and thus presenting more opportunities for creating
loyalty from consumers to merchants.
• Lifestyle
platform: “Leflair” branded online lifestyle
platform in Vietnam enables consumers to purchase high-end brands
in many categories. Using SOPA’s smart search engine, consumers
search or review their favorite brands among hundreds of choices in
various categories, including Apparel, Bag & Shoes,
Accessories, Health & Beauty, Home, Women, Men and Kids &
Babies categories.
• Digital advertising
platform: Thoughtful Media Group’s (“TMG”)
global multi-platform network has executed tens of millions of
dollars in advertiser branded content.
• Travel platform: Indonesia based
NusaTrip is a leading SEA OTA (online travel agent), having
connected 80+ million unique visitors directly to 500+ airlines and
200,000 hotels around the world.
• Market
opportunities: Ascendiant believes that continued
strong economic expansion, robust population growth, rising level
of urbanization, emergence of the middle class, and increasing rate
of adoption of mobile technology provide large and fast growing
market opportunities for SOPA.
• Revenue growth
strong: Ascendiant has modeled high revenue growth
in 2023 (+114%) and 2024 (+99%) and thereafter to scale up
significantly which should drive improved margins and
profitability.
• Major acquisition: SOPA’s
recent acquisition (announced on 07 July 2023 and expected to close
by September 2023) of 95% of PT Inetindo Info will significantly
contribute to SOPA results going forward due to Inetindo’s annual
revenue of approximately US$30 million.
• Current valuation
attractive: Ascendiant calculates a 12-month price target
for shares of Society Pass to be $3.50 based on a NPV analysis,
representing significant upside from the current share price.
About Society Pass Inc.Founded in 2018 as
a data-driven loyalty, fintech and e-commerce ecosystem in the
fast-growing markets of Vietnam, Indonesia, Philippines, Singapore
and Thailand, which account for more than 80% of the SEA
population, and with offices located in Angeles, Bangkok, Ho Chi
Minh City, Jakarta, Manila, and Singapore, Society Pass
Incorporated (Nasdaq: SOPA) is an acquisition-focused
holding company operating 6 interconnected verticals (loyalty,
digital media, travel, telecoms, lifestyle, and F&B), which
seamlessly connects millions of registered consumers and hundreds
of thousands of registered merchants/brands across multiple product
and service categories throughout SEA.
Society Pass completed an initial public
offering and began trading on the Nasdaq under the ticker SOPA in
November 2021.
SoPa acquires fast growing e-commerce companies
and expands its user base across a robust product and service
ecosystem. SoPa integrates these complementary businesses through
its signature Society Pass fintech platform and circulation of its
universal loyalty points or Society Points, which has entered beta
testing and is expected to launch broadly at the beginning of 2023.
Society Pass loyalty program members earn and redeem Society Points
and receive personalised promotions based on SoPa’s data
capabilities and understanding of consumer shopping behaviour. SoPa
has amassed more than 3.3 million registered consumers and over
650,000 registered merchants and brands. It has invested 2+ years
building proprietary IT architecture to effectively scale and
support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a
more personalised experience for customers in the purchase journey
and to transform the entire retail value chain in SEA. SoPa
operates Thoughtful Media Group, a Thailand-based, a social
commerce-focused, premium digital video multi-platform network;
NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure,
Vietnam’s leading provider of hotel management and payment
solutions; Gorilla Global, a Singapore-based, mobile network
operator; Leflair.com, Vietnam’s leading lifestyle e-commerce
platform; and Pushkart.ph, a popular grocery delivery company in
Philippines.
For more information on Society Pass, please
visit:
Website at https://www.thesocietypass.com or
LinkedIn at
https://www.linkedin.com/company/societypass or
Facebook at
https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass
or
Instagram at
https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking
StatementsThis press release may include “forward-looking
statements,” within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. All statements other than statements of
historical fact included in this press release are forward-looking
statements. When used in this press release, words such as
“anticipate”, “believe”, “estimate”, “expect”, “intend” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the SEC. All subsequent
written or oral forward-looking statements attributable to us or
persons acting on our behalf are qualified in their entirety by
this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus relating to the
Company’s initial public offering filed with the SEC. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Media Contacts:
Rokas SidlauskasChief Marketing
Officer
rokas@thesocietypass.com
Society Pass (NASDAQ:SOPA)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Society Pass (NASDAQ:SOPA)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024