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

<ul>
<li>AppFolio, Inc. reported excellent results for the second quarter of 2024, indicating robust growth and significant developments in both its product offerings and market strategy.</li>
<li>The company recorded a 34% year-over-year increase in revenue, totaling $197 million, with both operating and free cash flow margins showing substantial improvements.</li>
<li>The non-GAAP operating margin rose to 26%, and the free cash flow margin reached 25%.</li>
</ul>


AppFolio, Inc. reported excellent results for the second quarter of 2024, indicating robust growth and significant developments in both its product offerings and market strategy.
The company recorded a 34% year-over-year increase in revenue, totaling $197 million, with both operating and free cash flow margins showing substantial improvements.
The non-GAAP operating margin rose to 26%, and the free cash flow margin reached 25%.


AppFolio Inc.: Enhancing User Integration Through AppFolio Stack Marketplace

<ul>
<li>AppFolio, a property management software provider, showcased strong financial results for Q1 2024.</li>
<li>The company reported a significant 38% year-over-year increase in revenue, which calculated to $187 million for the quarter.</li>
<li>This substantial growth was primarily due to increases in units and customers, along with upgrades and further adoption of value-added services.</li>
</ul>


AppFolio, a property management software provider, showcased strong financial results for Q1 2024.
The company reported a significant 38% year-over-year increase in revenue, which calculated to $187 million for the quarter.
This substantial growth was primarily due to increases in units and customers, along with upgrades and further adoption of value-added services.


AppFolio Inc.: Is Its Revenue Growth Sustainable? - Major Drivers

<ul>
<li>AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion in innovation alongside profitable growth.</li>
<li>In the final quarter, the revenue of the company increased by 39% year over year reaching $172 million.</li>
<li>This steady surge has contributed to an annual increase of 31%, pushing the total to $620 million.</li>
</ul>


AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion in innovation alongside profitable growth.
In the final quarter, the revenue of the company increased by 39% year over year reaching $172 million.
This steady surge has contributed to an annual increase of 31%, pushing the total to $620 million.


AppFolio Inc.: Advancements in Artificial Intelligence (AI) & 3 Key Growth Levers

<ul>
<li>This is our first report on software-based security solutions provider, CyberArk.</li>
<li>The company had a strong Q3 2023 with its bookings growth accelerating, total bookings significantly outpacing the company's guidance framework and seeing a rise in demand for its platform.</li>
<li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li>
</ul>


This is our first report on software-based security solutions provider, CyberArk.
The company had a strong Q3 2023 with its bookings growth accelerating, total bookings significantly outpacing the company's guidance framework and seeing a rise in demand for its platform.
In this report, we have carried out a fundamental analysis of the historical financial statements of the company.


AppFolio:  Initiation of Coverage - Discover How Realm-X Is Revolutionizing Real Estate!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Despite our concerns regarding the growing performance disparity between the haves (e.g., Technology, FAANG, mega-caps, growth) and the have nots (e.g., Materials, Energy, small-caps, value), the silver lining continues to be that the latter group is not breaking down on an absolute (price) basis. Due to this fact along with several observations highlighted below, we remain bullish. Continue to buy the dips. In today’s report we highlight attractive Groups and stocks within Health Care and Technology: Hospitals, Pet Health, Software, Enterprise Applications, Large-Cap, and Software, Enterprise Applications, Small-Cap.</p>

Despite our concerns regarding the growing performance disparity between the haves (e.g., Technology, FAANG, mega-caps, growth) and the have nots (e.g., Materials, Energy, small-caps, value), the silver lining continues to be that the latter group is not breaking down on an absolute (price) basis. Due to this fact along with several observations highlighted below, we remain bullish. Continue to buy the dips. In today’s report we highlight attractive Groups and stocks within Health Care and Technology: Hospitals, Pet Health, Software, Enterprise Applications, Large-Cap, and Software, Enterprise Applications, Small-Cap.

United States

AppFolio, Inc. provides cloud-based software solutions. The Company offers a cloud-based property management software that allows apartment and residential property managers to market, manage, and grow their business. AppFolio conducts business in the United States.

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AppFolio Inc A (APPF US)

AppFolio Inc.: Enhancing User Integration Through AppFolio Stack Marketplace

AppFolio, Inc. reported excellent results for the second quarter of 2024, indicating robust growth and significant developments in both its product...

Baptista Research

AppFolio Inc.: Is Its Revenue Growth Sustainable? - Major Drivers

AppFolio, a property management software provider, showcased strong financial results for Q1 2024. The company reported a significant 38%...

Baptista Research

AppFolio Inc.: Advancements in Artificial Intelligence (AI) & 3 Key Growth Levers

AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion...

Baptista Research

AppFolio: Initiation of Coverage - Discover How Realm-X Is Revolutionizing Real Estate!

This is our first report on software-based security solutions provider, CyberArk. The company had a strong Q3 2023 with its bookings growth...

Baptista Research

U.S. Equity Strategy: Buy The Dips

Despite our concerns regarding the growing performance disparity between the haves (e.g., Technology, FAANG, mega-caps, growth) and the have nots...

Vermilion Research

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