Business
Society Pass Inc (Nasdaq: SOPA): Ascendiant Capital Markets Initiates Research Coverage for Society Pass Inc – US$ Billion Market Potential Due to Fast Growing Online Platform in Attractive Southeast Asia Markets
NEW YORK, NY, July 12, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Ascendiant Capital Markets LLC (“Ascendiant”) initiates equity research coverage on Society
About this update from Society Pass Incorporated
[{"type":"text","content":"NEW YORK, NY, July 12, 2023 (GLOBE NEWSWIRE) -- 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 ...