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>Etsy, during the company's Second Quarter 2024 Earnings, reported a Gross Merchandise Sales (GMS) of $2.9 billion, reflecting a slight year-over-year decline of 2.1% on a consolidated basis.</li><li>Despite the dip in GMS, revenue saw an uptick of 3%, totaling $648 million.</li><li>Moreover, Etsy maintained a robust adjusted EBITDA margin of approximately 28%.</li></ul>

Etsy, during the company's Second Quarter 2024 Earnings, reported a Gross Merchandise Sales (GMS) of $2.9 billion, reflecting a slight year-over-year decline of 2.1% on a consolidated basis.Despite the dip in GMS, revenue saw an uptick of 3%, totaling $648 million.Moreover, Etsy maintained a robust adjusted EBITDA margin of approximately 28%.

Etsy Inc.: Leveraging Advanced Technologies for Enhanced User Experience! - Major Drivers

<ul><li>Etsy Inc.'s Q1 2024 earnings had a cautious tone, reflecting a less-than-expected performance due to external factors such as inflation and increasing costs of essentials, which have contributed to depressed consumer sentiment and squeezed consumer wallets.</li><li>Consolidated Gross Merchandise Sales (GMS) for the period were reported at $3 billion, down 3.7% from last year.</li><li>Revenue grew slightly by 0.8% to $646 million, and the company delivered $168 million in adjusted EBITDA, a recommended EBITDA margin of approximately 26%.</li></ul>

Etsy Inc.'s Q1 2024 earnings had a cautious tone, reflecting a less-than-expected performance due to external factors such as inflation and increasing costs of essentials, which have contributed to depressed consumer sentiment and squeezed consumer wallets.Consolidated Gross Merchandise Sales (GMS) for the period were reported at $3 billion, down 3.7% from last year.Revenue grew slightly by 0.8% to $646 million, and the company delivered $168 million in adjusted EBITDA, a recommended EBITDA margin of approximately 26%.

Etsy Inc.: Improving Search Algorithms for Enhanced Customer Experience But Will They Indirectly Boost Revenues? - Major Drivers

<ul><li>Etsy Inc., a renowned online marketplace for handcrafted goods, released its fourth-quarter results which were fairly decent.</li><li>For 2023, Etsy reported revenue at a record $2.7 billion, up around 7% from the previous year.</li><li>There is confidence in the firm's robust financial model, given its solid revenue growth, significant levels of profit, and strong cash flow, which bodes well for long-term sustainable growth.</li></ul>

Etsy Inc., a renowned online marketplace for handcrafted goods, released its fourth-quarter results which were fairly decent.For 2023, Etsy reported revenue at a record $2.7 billion, up around 7% from the previous year.There is confidence in the firm's robust financial model, given its solid revenue growth, significant levels of profit, and strong cash flow, which bodes well for long-term sustainable growth.

Etsy Inc.: Investment in Marketing & Potential Payback & 5 Major Drivers - Financial Forecasts

US-EU Index Rebalances / Quantitative Researcher, Ortex

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

Ortex

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.</li>
<li>Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.</li>
</ul>


Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.
Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.

Dell Technologies (DELL US) is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.


S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Key points<ul><li>ETSY's end markets are expected to grow at a high single digit rate, allowing for 10% compound annual growth rate in Gross Merchandise Sales (GMS)</li><li>ETSY's international market, comprising 45% of revenue, is growing faster than its US market</li><li>ETSY has room to increase its take rate slightly, with its current rate of 19.8% in line with industry standards, positioning the company for continued growth in e-commerce.</li></ul>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.

Key pointsETSY's end markets are expected to grow at a high single digit rate, allowing for 10% compound annual growth rate in Gross Merchandise Sales (GMS)ETSY's international market, comprising 45% of revenue, is growing faster than its US marketETSY has room to increase its take rate slightly, with its current rate of 19.8% in line with industry standards, positioning the company for continued growth in e-commerce.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.

United States

Etsy, Inc. provides e-commerce services. The Company offers handmade and vintage items, art, and supplies, as well as regular items such as clothing, housewares, paper goods, candles, bags and purses, music, and wood working items. Etsy serves users throughout the United States.

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Etsy Inc (ETSY US)

Etsy Inc.: Leveraging Advanced Technologies for Enhanced User Experience! - Major Drivers

Etsy, during the company's Second Quarter 2024 Earnings, reported a Gross Merchandise Sales (GMS) of $2.9 billion, reflecting a slight...

Baptista Research

Etsy Inc.: Improving Search Algorithms for Enhanced Customer Experience But Will They Indirectly Boost Revenues? - Major Drivers

Etsy Inc.'s Q1 2024 earnings had a cautious tone, reflecting a less-than-expected performance due to external factors such as inflation and...

Baptista Research

Etsy Inc.: Investment in Marketing & Potential Payback & 5 Major Drivers - Financial Forecasts

Etsy Inc., a renowned online marketplace for handcrafted goods, released its fourth-quarter results which were fairly decent. For 2023, Etsy...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Etsy Inc (ETSY) - Tuesday, Nov 21, 2023

ETSY's end markets are expected to grow at a high single digit rate, allowing for 10% compound annual growth rate in Gross Merchandise Sales (GMS)

Value Investors Club

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Etsy Inc.: Leveraging Advanced Technologies for Enhanced User Experience! - Major Drivers

Etsy, during the company's Second Quarter 2024 Earnings, reported a Gross Merchandise Sales (GMS) of $2.9 billion, reflecting a slight...

Baptista Research

Etsy Inc.: Improving Search Algorithms for Enhanced Customer Experience But Will They Indirectly Boost Revenues? - Major Drivers

Etsy Inc.'s Q1 2024 earnings had a cautious tone, reflecting a less-than-expected performance due to external factors such as inflation and...

Baptista Research

Etsy Inc.: Investment in Marketing & Potential Payback & 5 Major Drivers - Financial Forecasts

Etsy Inc., a renowned online marketplace for handcrafted goods, released its fourth-quarter results which were fairly decent. For 2023, Etsy...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P ​Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Etsy Inc (ETSY) - Tuesday, Nov 21, 2023

ETSY's end markets are expected to grow at a high single digit rate, allowing for 10% compound annual growth rate in Gross Merchandise Sales (GMS)

Value Investors Club

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...