[Click eStock] "Synapsoft, a Rare Cheap and Profitable AI Software Company"

Shinhan Investment Corp. analyzed Synapsoft on the 14th as an undervalued profit-making artificial intelligence (AI) software (S/W) company. No investment opinion or target price was provided.

Synapsoft provides software that allows viewing, recognizing, and editing digital documents such as Word, Excel, and PDF without downloading them.

Choi Seunghwan, a researcher at Shinhan Investment Corp., said, "AI new business momentum is expected within the first half of the year," adding, "Results from the domestic corporate pilot project of ‘Docu Analyzer,’ which enables corporate document data to be utilized by AI, are expected within the first half."

He also anticipates results from their proprietary large language model (LLM). He explained, "An improved version of the DartPoint AI service using the proprietary LLM model ‘Synap DU LLM’ is scheduled for release between February and March, with a final version planned within the year," describing it as "a service that performs data crawling and assistant functions from the electronic disclosure system DART."

He continued, "Since the initial version release, active feedback from actual users has been incorporated for improvements," emphasizing, "If DartPoint AI succeeds, it can be applied to laws, patents, and more, and B2C will be newly added to the existing sales structure, which was 50% each for B2B and B2G."

He stated, "The expected price-to-earnings ratios (PER) for 2025 and 2026 are 9 times and 7 times, respectively, representing an absolute undervaluation that does not reflect the expectations for the AI new business," concluding, "Considering the potential of AI software, the stock price is in an extremely undervalued state."