Ascendiant Capital Markets Issues Positive Forecast for Society Pass (NASDAQ:SOPA) Stock Price

Society Pass (NASDAQ:SOPA) had its target price lifted by equities research analysts at Ascendiant Capital Markets from $22.00 to $22.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

SOPA has been the subject of several other reports. Zacks Research downgraded shares of Society Pass from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Society Pass in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.50.

Society Pass Price Performance

Shares of SOPA stock opened at $1.05 on Thursday. The stock’s fifty day simple moving average is $1.96 and its 200 day simple moving average is $1.58. Society Pass has a one year low of $0.64 and a one year high of $6.75. The firm has a market cap of $6.42 million, a price-to-earnings ratio of -0.43 and a beta of 1.96.

Society Pass (NASDAQ:SOPA) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.82). Society Pass had a negative return on equity of 343.41% and a negative net margin of 145.99%.The company had revenue of $1.38 million for the quarter, compared to analyst estimates of $2.40 million. On average, research analysts anticipate that Society Pass will post -2.65 earnings per share for the current year.

Hedge Funds Weigh In On Society Pass

An institutional investor recently bought a new position in Society Pass stock. XTX Topco Ltd bought a new stake in Society Pass Incorporated (NASDAQ:SOPA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,671 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.42% of Society Pass as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 3.09% of the company’s stock.

About Society Pass

Society Pass Incorporated acquires and operates fintech and e-commerce platforms and mobile applications for consumers and merchants in Singapore, Vietnam, Indonesia, Philippines, the United States, Malaysia, Hong Kong, and Thailand. It operates through Online Grocery and Food and Groceries Deliveries, Digital marketing, Online ticketing and reservation, Telecommunications Reseller, e-Commerce, and Merchant Point of Sale segments.