Equity Analysis /
Thailand

Sabuy Technology PCL: A fintech play like no other

  • Growing in tandem with its ecosystem

  • Following in Ant Group’s footsteps

  • Four revenue streams fueling growth

Napon Jaisan
Napon Jaisan

Equity Research Analyst

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Bualuang Securities
8 September 2021

We have initiated coverage on SABUY with a BUY call and a YE22 target price of Bt16, pegged to PEG of 1x, based on forecast 2022 EPS growth of 62%. The company runs a “one-stop digital lifestyle platform” that connects service providers with users. The concept is an ecosystem enabling people to live their lives through a single app. Connectivity across the ecosystem is enabled by SABUY’s online payment system.