Society Pass (SOPA) Shares Surge Following Analyst Upgrade
Shares of Society Pass Inc. (NASDAQ:SOPA) experienced a significant surge after Ascendiant Capital Markets LLC released a new equity research report. The report highlighted Society Pass's strong second-quarter 2025 results and an improved financial outlook, driving investor confidence.
Strong Second Quarter Results Fuel Optimism
Ascendiant reported that Society Pass generated revenue of $2.5 million for the second quarter of 2025, a substantial 46% increase compared to the same period last year. This figure exceeded prior estimates of $1.5 million. Furthermore, earnings per share (EPS) reached 10 cents, significantly outperforming expectations of a loss of 24 cents per share.
Company Overview and Market Focus
Founded in 2018, Society Pass operates across several Southeast Asian countries, including Vietnam, Indonesia, the Philippines, Singapore, and Thailand. The company's focus is on digital media, travel, and lifestyle platforms within the region's thriving e-commerce market.
Revised Financial Forecasts Indicate Growth
Driven by the strong performance, Ascendiant revised its revenue forecast for 2025 upwards to $8.8 million from $6.2 million. The firm also improved its earnings estimate, projecting a loss of 42 cents per share compared to the previous estimate of a loss of $1.04. For 2026, Ascendiant now anticipates revenue of $10 million, up from $9 million, with a projected loss of 47 cents per share, an improvement from the earlier loss estimate of 63 cents.
NusaTrip IPO and Thoughtful Media Potential
In August 2025, Society Pass's subsidiary, NusaTrip, successfully completed its initial public offering (IPO) on Nasdaq under the ticker NUTR, raising $17 million. Ascendiant projects that another Society Pass subsidiary, Thoughtful Media, will follow suit with its own IPO by the end of 2025, potentially achieving a valuation similar to that of NusaTrip.
Valuation Analysis and Growth Prospects
Ascendiant emphasized that Society Pass's current market capitalization of approximately $5 million is significantly lower than its estimated $29 million in cash reserves, which includes the $17 million generated from NusaTrip's IPO. NusaTrip shares are currently trading around $8.00, roughly double their IPO price. Society Pass holds an estimated 75% stake in NusaTrip, representing approximately 12 million shares valued at roughly $100 million.
Analyst Rating and Price Target
The research firm reaffirmed its "Buy" rating for Society Pass and increased its 12-month price forecast to $18 from $15, citing “Positive High Risks versus High Rewards.” Ascendiant believes that Society Pass's strong growth prospects, coupled with its apparent undervaluation relative to its intrinsic value, present a compelling investment opportunity, despite facing near-term commercialization challenges.
Nasdaq Compliance
Separately, Society Pass announced on September 2, 2025, that it received confirmation from the Nasdaq Capital Market regarding its compliance with Rule 5550(b)(2), which mandates a minimum of $2.5 million in stockholders’ equity. This confirmation ensures the company maintains its listing status on Nasdaq.
SOPA Stock Performance
Price Action: As of Monday, SOPA shares were trading 106.3% higher at $2.89.
