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>The Descartes Systems Group has reported its quarterly financial results, illustrating a strong performance across several key financial metrics.</li><li>This performance is anchored by a 14% increase in total revenues yearover-year, with a significant component of this growth being organic, estimated at about 9%.</li><li>Furthermore, the company enjoyed a 23% increase in net income compared to the previous year, and adjusted EBITDA climbed by 17%, surpassing the company's target growth range of 10%-15% annually.</li></ul>

The Descartes Systems Group has reported its quarterly financial results, illustrating a strong performance across several key financial metrics.This performance is anchored by a 14% increase in total revenues yearover-year, with a significant component of this growth being organic, estimated at about 9%.Furthermore, the company enjoyed a 23% increase in net income compared to the previous year, and adjusted EBITDA climbed by 17%, surpassing the company's target growth range of 10%-15% annually.

The Descartes Systems Group: Advantage Through Strategic Acquisitions – Focus on BoxTop Technologies! - Major Drivers

<ul><li>The Descartes Systems Group reported its robust quarterly earnings, displaying solid growth and notable investments in acquisitions.</li><li>Ed Ryan, CEO, opened by highlighting key metrics revealing that revenues were up 11% from last year, adjusted EBITDA increased 16%, with a margin of 44%, and $63.7 million was generated from operations.</li><li>The company concluded the period with almost $270 million in cash and had an untapped $350 million credit line, even after using about $140 million for acquisitions.</li></ul>

The Descartes Systems Group reported its robust quarterly earnings, displaying solid growth and notable investments in acquisitions.Ed Ryan, CEO, opened by highlighting key metrics revealing that revenues were up 11% from last year, adjusted EBITDA increased 16%, with a margin of 44%, and $63.7 million was generated from operations.The company concluded the period with almost $270 million in cash and had an untapped $350 million credit line, even after using about $140 million for acquisitions.

The Descartes Systems Group: These Are The 4 Pivotal Growth Drivers & 3 Biggest Challenges In Their Path! - Financial Forecasts

<ul><li>The Descartes Systems Group reported record fourth-quarter and annual financial results, marked by strong organic growth and improvements to operating margins.</li><li>In Q4, total revenues were up 18% YoY, with services revenues up 20%, and adjusted EBITDA up 19% YoY. The company ended the quarter with $321 million in cash and was debt-free, with an undrawn $350 million line of credit.</li><li>Descartes Systems continues to focus on organic growth, particularly in real-time visibility, global trade intelligence, and routing and scheduling solutions.</li></ul>

The Descartes Systems Group reported record fourth-quarter and annual financial results, marked by strong organic growth and improvements to operating margins.In Q4, total revenues were up 18% YoY, with services revenues up 20%, and adjusted EBITDA up 19% YoY. The company ended the quarter with $321 million in cash and was debt-free, with an undrawn $350 million line of credit.Descartes Systems continues to focus on organic growth, particularly in real-time visibility, global trade intelligence, and routing and scheduling solutions.

The Descartes Systems Group: How Sustainable Are Its Competitive Position & Its Market Share Gains? - Major Drivers

<ul><li>This is our first report on Descartes Systems Group Inc, a well-known provider of cloud-based logistics and supply chain management business process solutions.</li><li>Revenue for the company increased by 19% compared to the prior year, service revenues increased by 18%, and its Adjusted EBITDA increased by 17% from the previous year.</li><li>Descartes ended the quarter with approximately $280 million in cash and a $350 million line of credit, entirely unutilized.</li></ul>

This is our first report on Descartes Systems Group Inc, a well-known provider of cloud-based logistics and supply chain management business process solutions.Revenue for the company increased by 19% compared to the prior year, service revenues increased by 18%, and its Adjusted EBITDA increased by 17% from the previous year.Descartes ended the quarter with approximately $280 million in cash and a $350 million line of credit, entirely unutilized.

The Descartes Group Inc.: Initiation of Coverage – These Key Forces Are Shaping Their Future! -  Financial Forecasts

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

<ul>
<li>Global equities (MSCI ACWI -- ACWI-US) and the U.S. (S&amp;P 500) remain topside their respective bases at $117 and 5650-5670.</li>
<li>As discussed last week (October 17, 2024 Int'l Compass), we upgraded our outlook on global equities (MSCI ACWI) to bullish, saying to use any pre-election pullback as opportunity to buy.</li>
<li>The pullback appears to be underway, and we are buyers as long as ACWI-US and S&amp;P 500 remain above their aforementioned bases</li>
</ul>


Global equities (MSCI ACWI -- ACWI-US) and the U.S. (S&amp;P 500) remain topside their respective bases at $117 and 5650-5670.
As discussed last week (October 17, 2024 Int'l Compass), we upgraded our outlook on global equities (MSCI ACWI) to bullish, saying to use any pre-election pullback as opportunity to buy.
The pullback appears to be underway, and we are buyers as long as ACWI-US and S&amp;P 500 remain above their aforementioned bases


Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Canada

The Descartes Systems Group Inc. provides inter-enterprise software for the execution of supply-chain management, especially for delivery-intensive companies.  The Company's products allow users to share and process information via the Internet.  Descartes licenses software to customers worldwide.

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Descartes Systems Grp (DSGX US)

The Descartes Systems Group: Advantage Through Strategic Acquisitions – Focus on BoxTop Technologies! - Major Drivers

The Descartes Systems Group has reported its quarterly financial results, illustrating a strong performance across several key financial...

Baptista Research

The Descartes Systems Group: These Are The 4 Pivotal Growth Drivers & 3 Biggest Challenges In Their Path! - Financial Forecasts

The Descartes Systems Group reported its robust quarterly earnings, displaying solid growth and notable investments in acquisitions. Ed Ryan, CEO,...

Baptista Research

The Descartes Group Inc.: Initiation of Coverage – These Key Forces Are Shaping Their Future! - Financial Forecasts

This is our first report on Descartes Systems Group Inc, a well-known provider of cloud-based logistics and supply chain management business...

Baptista Research

Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Buying Global Technology; $SPX and MSCI $ACWI Remain Above Base Supports at 5650-5670 and $117; Buying Taiwan Semiconductor $TSM $SE $SAP $GRAB...

Vermilion Research

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The Descartes Systems Group: Advantage Through Strategic Acquisitions – Focus on BoxTop Technologies! - Major Drivers

The Descartes Systems Group has reported its quarterly financial results, illustrating a strong performance across several key financial...

Baptista Research

The Descartes Systems Group: These Are The 4 Pivotal Growth Drivers & 3 Biggest Challenges In Their Path! - Financial Forecasts

The Descartes Systems Group reported its robust quarterly earnings, displaying solid growth and notable investments in acquisitions. Ed Ryan, CEO,...

Baptista Research

The Descartes Systems Group: How Sustainable Are Its Competitive Position & Its Market Share Gains? - Major Drivers

The Descartes Systems Group reported record fourth-quarter and annual financial results, marked by strong organic growth and improvements to...

Baptista Research

The Descartes Group Inc.: Initiation of Coverage – These Key Forces Are Shaping Their Future! - Financial Forecasts

This is our first report on Descartes Systems Group Inc, a well-known provider of cloud-based logistics and supply chain management business...

Baptista Research

Buying Global Technology; SPX and MSCI ACWI Above Base Supports; Sea, TSMC, SAP, Luxshare, & More

Buying Global Technology; $SPX and MSCI $ACWI Remain Above Base Supports at 5650-5670 and $117; Buying Taiwan Semiconductor $TSM $SE $SAP $GRAB...

Vermilion Research