Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Fortinet Inc. provides network security solutions. The Company offers network security appliances and related software, and subscription services. Fortinet systems integrate the industry's broadest suite of security technologies, including firewall, VPN, antivirus, intrusion prevention (IPS), Web filtering, antispam, and traffic shaping.

<ul><li>Fortinet's third-quarter financial results for 2024 showcase robust performance and a strategic focus on growth markets in the cybersecurity landscape.</li><li>The company's total revenue grew by 13%, a return to product revenue growth bolstered by strong service revenue expansion.</li><li>Fortinet's strong execution led to record gross and operating margins, with the latter increasing by 830 basis points to over 36%.</li></ul>

Fortinet's third-quarter financial results for 2024 showcase robust performance and a strategic focus on growth markets in the cybersecurity landscape.The company's total revenue grew by 13%, a return to product revenue growth bolstered by strong service revenue expansion.Fortinet's strong execution led to record gross and operating margins, with the latter increasing by 830 basis points to over 36%.

Fortinet Inc.: These Are The 6 Biggest Factors Impacting Its Performance In 2025 & Beyond! - Major Drivers

Rapid7, Inc. provides security data and analytic software solutions. The Company offers services to collect, contextualize, and analyze security data to reduce threat exposure and detect compromise in real-time.

<ul><li>In a pivotal development, Rapid7, a prominent cybersecurity firm valued at $2.4 billion, has entered early discussions with potential buyers, guided by investment banks Goldman Sachs and JPMorgan.</li><li>The firm, headquartered in Boston, has captured the attention of leading private equity firms like Advent, Bain Capital, and EQT, as they consider a potential acquisition.</li><li>With Jana Partners holding a 5.8% stake and advocating for a sale, Rapid7 finds itself in a favorable yet complex position.</li></ul>

In a pivotal development, Rapid7, a prominent cybersecurity firm valued at $2.4 billion, has entered early discussions with potential buyers, guided by investment banks Goldman Sachs and JPMorgan.The firm, headquartered in Boston, has captured the attention of leading private equity firms like Advent, Bain Capital, and EQT, as they consider a potential acquisition.With Jana Partners holding a 5.8% stake and advocating for a sale, Rapid7 finds itself in a favorable yet complex position.

Inside Rapid7’s Acquisition Appeal: Why Buyout Firms Are Scrambling to Buy This Cybersecurity Leader!

Tenable Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, offers application and cloud based security solutions for finance, healthcare, retail, energy, and educational sectors. Tenable Holdings serves customers worldwide.

<ul><li>Tenable's Q2 2024 earnings report presents a mixed picture, with various strengths and areas of concern that are pivotal for investors to consider.</li><li>The company, a notable player in the cybersecurity space, reported revenues and earnings that surpassed expectations, but encountered headwinds with calculated current billings (CCB), which fell short of projected figures.</li><li>This discrepancy signals a challenging selling environment and prompts a cautious outlook for the rest of the year.</li></ul>

Tenable's Q2 2024 earnings report presents a mixed picture, with various strengths and areas of concern that are pivotal for investors to consider.The company, a notable player in the cybersecurity space, reported revenues and earnings that surpassed expectations, but encountered headwinds with calculated current billings (CCB), which fell short of projected figures.This discrepancy signals a challenging selling environment and prompts a cautious outlook for the rest of the year.

Tenable Holdings Inc.: Can Its Robust Pipeline in Public Sector Opportunities Be Its Biggest Growth Factor? - Major Drivers

JFrog Ltd operates as a software development company. The Company provides technologies and tools for the everyday use and to increase the effectiveness. JFrog serves customers worldwide.

<ul><li>JFrog Ltd., a key player in the software development tools industry, is currently generating buzz with reports of preliminary takeover interest from major private equity firms, including Permira and Hellman & Friedman.</li><li>The Israeli-American company, known for its DevOps platform and advanced security solutions, has positioned itself as a prime acquisition target for strategic acquirers and financial firms alike.</li><li>This attention stems from its unique offerings that streamline software development and security, in addition to recent collaborations with GitHub and NVIDIA, which have enhanced its product portfolio.</li></ul>

JFrog Ltd., a key player in the software development tools industry, is currently generating buzz with reports of preliminary takeover interest from major private equity firms, including Permira and Hellman & Friedman.The Israeli-American company, known for its DevOps platform and advanced security solutions, has positioned itself as a prime acquisition target for strategic acquirers and financial firms alike.This attention stems from its unique offerings that streamline software development and security, in addition to recent collaborations with GitHub and NVIDIA, which have enhanced its product portfolio.

JFrog Ltd. Attracts Takeover Interest: Why Private Equity Firms Like Permira and Hellman & Friedman Are Interested

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Rubrik, Inc. operates as a cloud data management and data security company. The Company offers a platform which helps enterprises to achieve resilience against cyber-attacks, malicious insiders, operational disruptions, cloud mobility, and regulatory compliance. Rubrik serves government, health care, legal, and financial industries worldwide.

<ul><li>Rubrik is positioned to dominate the security-aware cloud data backup market with their cybersecurity combined with cross-cloud immutable data backup solutions.</li><li>Despite trading below its IPO price due to market sentiment against software stocks, Rubrik's strong fundamentals and growth potential make it an attractive investment opportunity.</li><li>Co-founders Bipul Sinha and Arvind Jain have a successful track record in the tech industry, and Rubrik's stock is expected to follow the path of dominant software companies like MDB, NOW, CRM, WDAY, DDOG, and CRWD, with potential for significant growth over the next 3 to 10 years.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Rubrik is positioned to dominate the security-aware cloud data backup market with their cybersecurity combined with cross-cloud immutable data backup solutions.Despite trading below its IPO price due to market sentiment against software stocks, Rubrik's strong fundamentals and growth potential make it an attractive investment opportunity.Co-founders Bipul Sinha and Arvind Jain have a successful track record in the tech industry, and Rubrik's stock is expected to follow the path of dominant software companies like MDB, NOW, CRM, WDAY, DDOG, and CRWD, with potential for significant growth over the next 3 to 10 years.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.