Society Pass Inc: Maxim Issues 3Q 2023 Equity Research Update; Maintains Outlook On Organic Growth & M&A
Portfolio Pulse from Benzinga Newsdesk
Maxim Group LLC maintains a positive outlook on Society Pass Inc. (NASDAQ:SOPA), citing its low EV/revenue multiple compared to peers, better than expected 3Q 2023 results, and potential for organic growth and M&A. SOPA's 3Q revenue was $2.3M with a narrowed adjusted EBITDA loss of ($2.6M). Maxim highlights SOPA's strong balance sheet with $8.2M in unrestricted cash and a $40M equity line of credit, expecting sufficient funds for growth through 2024.
November 22, 2023 | 1:22 pm
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POSITIVE IMPACT
Maxim Group maintains a positive outlook on SOPA, with 3Q 2023 results beating estimates and a strong balance sheet. The company's low valuation and potential for organic growth and M&A are highlighted as key drivers.
The positive report from Maxim Group, which includes a beat on 3Q 2023 earnings estimates and a strong balance sheet, is likely to instill confidence in investors. The low EV/revenue multiple compared to peers and the focus on M&A could drive investor interest and potentially lead to a short-term increase in SOPA's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100