Society Pass Shares Explode After Analyst Upgrade

Society Pass Inc. (SOPA) shares surged over 100% following a research report from Ascendiant Capital Markets highlighting strong Q2 2025 results, with revenue of $2.5 million (46% YoY increase) and $0.10 EPS, significantly surpassing estimates. Ascendiant reaffirmed its Buy rating and raised its price target to $18, emphasizing that SOPA's current market capitalization of approximately $5 million is substantially below its $29 million cash on hand and the estimated $100 million value of its 75% stake in recently IPO'd subsidiary NusaTrip, suggesting a significant undervaluation and future growth catalysts from additional subsidiary IPOs. The company also confirmed compliance with Nasdaq's minimum stockholders' equity rule.

Analysis

Society Pass Inc. (NASDAQ:SOPA) shares skyrocketed after Ascendiant Capital Markets LLC issued a new equity research report highlighting the company’s strong second-quarter 2025 results and an improved outlook. The firm stated that Society Pass generated revenue of $2.5 million for the quarter, representing a 46% increase from the same period last year, surpassing estimates of $1.5 million. Earnings were 10 cents per share, compared with an expected loss of 24 cents per share. Founded in 2018, Society Pass operates in Vietnam, Indonesia, the Philippines, Singapore, and Thailand, with a focus on digital media, travel, and lifestyle platforms across Southeast Asia’s e-commerce market. Also Read: Super League Enterprise (SLE) Shares Soar After Hours: What’s Happening? Ascendiant raised its 2025 revenue forecast to $8.8 million from $6.2 million and its earnings estimate to a loss of 42 cents per share from a loss of $1.04. For 2026, the firm now projects revenue of $10 million, up from $9 million, and a loss of 47 cents per share compared with a loss of 63 cents previously. In August 2025, Society Pass subsidiary NusaTrip completed its initial public offering on Nasdaq under the ticker NUTR, raising $17 million. Ascendiant expects another subsidiary, Thoughtful Media, to go public by the end of 2025, with a valuation comparable to that of NusaTrip. Ascendiant noted that Society Pass’s current market capitalization of approximately $5 million is far below its estimated $29 million in cash, including $17 million raised from NusaTrip’s IPO. NusaTrip shares are currently trading near $8.00, about double their IPO price. The firm estimates Society Pass owns roughly 12 million NusaTrip shares, representing a 75% stake valued at about $100 million. The research firm reaffirmed its Buy rating and raised its 12-month price forecast to $18 from $15, citing “Positive High Risks versus High Rewards.” Ascendiant said Society Pass’s growth prospects, combined with its discount to intrinsic value, create an attractive opportunity despite near-term commercialization challenges. Separately, Society Pass announced that it received a notice from the Nasdaq Capital Market on September 2, 2025, confirming compliance with Rule 5550(b)(2), which requires a minimum of $2.5 million in stockholders’ equity. The confirmation ensures the company remains in compliance with Nasdaq’s continued listing standards. Price Action: SOPA shares were trading 106.3% higher at $2.89 at last check Monday. Read Next: Image via Shutterstock © 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Society Pass Inc. (SOPA) experienced a more than 100% share price increase to $2.89, catalyzed by a highly bullish equity research report from Ascendiant Capital Markets. The report highlighted a significant second-quarter 2025 performance beat, with revenue of $2.5 million growing 46% year-over-year and far exceeding the $1.5 million estimate, while earnings of $0.10 per share reversed an expected loss of $0.24. The core of the investment thesis presented by Ascendiant is the stark valuation disconnect: SOPA's market capitalization of approximately $5 million is substantially below its estimated $29 million in cash and the roughly $100 million value of its 75% stake in subsidiary NusaTrip (NUTR), which recently completed its IPO. This suggests a deep discount to intrinsic value. Further upside is signaled by Ascendiant raising its 12-month price forecast to $18 from $15 and the expectation that another subsidiary, Thoughtful Media, will pursue an IPO by the end of 2025. The company has also mitigated a key operational risk by confirming its compliance with Nasdaq's minimum stockholders' equity requirement, ensuring its continued listing.

Key Decisions for Investors

• Investors should evaluate the significant disparity between Society Pass's market capitalization and the combined value of its cash reserves and its majority stake in NusaTrip, which forms the basis of the current deep value thesis.
• The planned IPO of the Thoughtful Media subsidiary by year-end 2025 is a critical near-term catalyst that should be monitored closely, as a successful offering could further unlock substantial value for SOPA shareholders.
• While the outlook is positive, Ascendiant's 'High Risks versus High Rewards' assessment indicates significant volatility, so investors should consider the speculative nature of the opportunity and the 'near-term commercialization challenges' when sizing any position.
• The market performance of the recently listed subsidiary, NusaTrip (NUTR), is a key real-time metric for SOPA's asset valuation and should be tracked as a primary indicator of its intrinsic worth.