Ascendiant Capital Markets: "Society Pass Inc (Nasdaq: SOPA) stock is undervalued and should be higher on NusaTrip valuation"
MWN-AI** Summary
Ascendiant Capital Markets has recently reinforced its positive outlook on Society Pass Inc. (Nasdaq: SOPA), positioning the shares as undervalued and highlighting a significant price target increase from $22.00 to $22.50 based on a net present value analysis. This valuation indicates a robust potential upside compared to the current stock price, suggesting that the market may not fully recognize SOPA’s growth potential and associated risks.
A key factor in this valuation is the intrinsic worth of NusaTrip, an online travel platform under Society Pass, estimated to be around $20 per share. With NusaTrip's recent IPO on NASDAQ, despite facing trading halts due to SEC investigations, its current market performance signifies underlying strength. The substantial share price gap (approximately 1,769% from SOPA's price) emphasizes its current undervaluation.
Society Pass, founded in 2018, operates in Southeast Asia's burgeoning e-commerce space, focusing on digital media, travel, and lifestyle sectors. The recent projection of a shift toward investing in AI-driven companies aligns with global technology trends, potentially enhancing shareholder value.
Additionally, the anticipated IPO of Thoughtful Media Group, expected to align with NusaTrip’s valuation, presents further catalysts for SOPA. With an upward trajectory in economic growth and technological adoption across Southeast Asia, Ascendiant believes Society Pass is well-positioned for substantial market opportunities.
Despite recent financial metrics showing a decline in revenue and higher losses in Q3, Ascendiant argues that these results do not reflect the long-term potential of the Company or its assets. Overall, Ascendiant's report underscores a bullish stance on SOPA, pointing to compelling growth prospects and significant upcoming catalysts that could unlock shareholder value.
MWN-AI** Analysis
Based on Ascendiant Capital Markets' recent equity report, Society Pass Inc (Nasdaq: SOPA) presents a compelling investment opportunity, characterized by significant undervaluation in light of its assets, particularly NusaTrip. Ascendiant has raised its 12-month price target for SOPA to $22.50, reflecting a strategic valuation approach that balances the inherent risks and growth potential associated with the company’s business model.
NusaTrip’s valuation, cited at approximately $125 million, implies a per-share value of around $20 for SOPA, which is strikingly higher than its current trading price. This discrepancy, amounting to roughly 1,769% upside potential, indicates substantial investor mispricing, positioning SOPA as potentially undervalued in the current market landscape. Despite recent trading halts and investigation issues surrounding NusaTrip, strong past market performance and expected resumption of trading could catalyze a swift revaluation of SOPA's stock.
The anticipated IPOs of SOPA's segments, particularly Thoughtful Media, are poised to unlock additional value. Ascendiant's insights suggest that the market has not yet factored in the prospective valuations of these upcoming IPOs, which could lead to a notable price correction in SOPA's stock as these events unfold.
Moreover, Societal trends in Southeast Asia—such as rapid urbanization, demographic shifts, and an expanding middle class—provide a robust foundation for growth within SOPA's operational verticals. The company’s pivot toward AI investments expands its strategic avenues, aligning with global technology trends that underscore the importance of AI in enhancing e-commerce capabilities.
In summary, for investors looking at the Southeast Asia e-commerce landscape, Society Pass Inc represents a strategic opportunity underpinned by tangible assets, anticipated growth catalysts, and substantial upside potential. A buy recommendation aligns well with Ascendiant's bullish outlook in the face of current market conditions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
NEW YORK, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Society Pass Incorporated (Nasdaq: SOPA) (“SOPA” or the “Company”), Southeast Asia’s (SEA) next generation e-commerce ecosystem, today highlights Ascendiant Capital Markets LLC’s (“Ascendiant”) recent equity research report on Society Pass Inc. as published on December 17, 2025.
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 from Ascendiant’s Report:
- Valuation very attractive: Ascendiant maintains BUY rating and raises our 12-month price target to $22.50 from $22.00, based on a NPV analysis, representing significant upside from the current share price. Ascendiant believes this valuation appropriately balances out SOPA’s high risks with its high growth prospects and large upside opportunities.
- NusaTrip’s value is approximately $20 per share: NusaTrip value of approximately $125 million, divided by 6.2 million SOPA shares outstanding equates to approximately $20 per share of value. This is well above the current stock price of SOPA by almost approximately 1,769%, which Ascendiant believes represents a significant undervaluation of SOPA shares.
- NusaTrip IPO and trading halt: In August 2025, NusaTrip went public on the NASDAQ under the ticker “NUTR”. The company raised $17 million (4.3 million shares at $4.00 per share). NusaTrip’s stock has been very strong since the IPO and was trading at $9.00 per share on October 8, 2025. Ascendiant notes that NusaTrip’s stock is currently halted for trading since October 9, 2025, due to SEC and NASDAQ investigations. NusaTrip has been responding to inquiries from Nasdaq and we expect shares may resume trading soon.
- New investment strategy: In December, the Company recently announced that it will be focusing on new investments in AI (artificial intelligence) companies. These include AI-driven software and network infrastructure companies and privately held AI data centre, travel, digital advertising, and telecommunications sectors in Asia and globally.
- IPO planned: In October 2023, SOPA announced plans to spin off two of its businesses in IPOs in 2024 (originally planned), its digital advertising ecosystem, Thoughtful Media Group Inc., and its online travel platform, NusaTrip Inc. Ascendiant believes that these IPOs will drive significant value to SOPA’s shareholders and will be key catalysts for the company in 2025 and 2026.
- 1 IPO completed, another one should complete soon: Ascendiant expects Thoughtful Media to IPO in early 2026. Ascendiant expects Thoughtful Media’s valuation to be comparable to NusaTrip. With the current undervaluation of SOPA shares, Ascendiant does not believe investors are giving SOPA any valuation for Thoughtful Media, so a strong IPO should be a strong catalyst for SOPA shares.
- Reported Q3: The Company on November 14, 2025, reported its fiscal Q3 2025 results for the quarter ending September 30, 2025. Revenue was $1.4 million (down 18% year-on-year), compared to our estimates of $2.4 million. Earnings per share was $(0.84), compared to our estimates of $(0.07) for Q3. There was no Q3 guidance or consensus estimates.
- Market opportunities: Ascendiant believes that continued strong economic expansion, robust population growth, rising level of urbanization, the emergence of the middle class, and the increasing rate of adoption of mobile technology provide large and fast-growing market opportunities for Society Pass and other technology companies in SEA.
About Society Pass Inc.
Founded in 2018 as an 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 Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 3 interconnected verticals (digital media, travel, and lifestyle). 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.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.
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
X at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s intended M&A strategies, including possible future IPOs as well as the future performance or valuation of its stock. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Society Pass Incorporated’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of Society Pass Incorporated’s common stock and risks relating to Society Pass Incorporated’s business, identify potential acquisition target and proposed IPO of Thoughtful Media.
Media Contact:
Raynuald LIANG
Chief Executive Officer
ray@thesocietypass.com
FAQ**
What specific factors does Ascendiant Capital Markets attribute to the attractive valuation of Society Pass Incorporated (SOPA), particularly in light of its recent financial performance and future growth potential?
How does the ongoing trading halt of NusaTrip's shares impact the overall valuation and market perception of Society Pass Incorporated (SOPA) in the context of its planned IPO for Thoughtful Media Group?
Given Society Pass Incorporated (SOPA)'s recent focus on investments in AI companies, what strategic advantages does the company foresee in this sector that could bolster its market position in Southeast Asia?
How does Society Pass Incorporated (SOPA) plan to address the disappointing Q3 revenue results and negative earnings per share, especially in light of Ascendiant's expectations for upcoming IPOs to act as catalysts for share value?
**MWN-AI FAQ is based on asking OpenAI questions about Society Pass Incorporated (NASDAQ: SOPA).
NASDAQ: SOPA
SOPA Trading
-2.84% G/L:
$0.6463 Last:
196,321 Volume:
$0.6444 Open:
