Society Pass (NASDAQ:SOPA) Issues Earnings Results, Misses Expectations By $0.82 EPS

Society Pass (NASDAQ:SOPA) announced its quarterly earnings results on Friday. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.82), Zacks reports. The business had revenue of $1.38 million for the quarter, compared to analyst estimates of $2.40 million.

Society Pass Stock Down 11.9%

NASDAQ SOPA opened at $1.48 on Friday. The firm has a market capitalization of $9.04 million, a PE ratio of -0.61 and a beta of 1.92. The stock’s 50 day moving average is $2.10 and its 200 day moving average is $1.56. Society Pass has a twelve month low of $0.64 and a twelve month high of $6.75.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Society Pass in a report on Tuesday. Ascendiant Capital Markets lifted their price objective on Society Pass from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Zacks Research raised Society Pass from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Institutional Trading of Society Pass

An institutional investor recently bought a new position in Society Pass stock. XTX Topco Ltd purchased a new stake in shares of Society Pass Incorporated (NASDAQ:SOPA) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,671 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned 0.42% of Society Pass at the end of the most recent reporting period. 3.09% of the stock is currently owned by hedge funds and other institutional investors.

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.