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>Exponent Inc.’s third quarter 2024 financial results demonstrate both resilience and constraints in the context of evolving market dynamics.</li>
<li>The company reported a 6% growth in net income and an expansion in EBITDA margin, indicating effective cost management and resource utilization.</li>
<li>The overall revenue, however, remained flat compared to the previous year, reflecting a mixed performance across different sectors of operation.</li>
</ul>


Exponent Inc.’s third quarter 2024 financial results demonstrate both resilience and constraints in the context of evolving market dynamics.
The company reported a 6% growth in net income and an expansion in EBITDA margin, indicating effective cost management and resource utilization.
The overall revenue, however, remained flat compared to the previous year, reflecting a mixed performance across different sectors of operation.


Exponent Inc's New Game-Changing Strategies: Multidisciplinary Problem Solving at Its Best!

<ul>
<li>Exponent Inc.'s Q2 2024 financial results reveal a mixed performance amid market challenges and strategic adaptations aimed at aligning the company’s operational model with prevailing market conditions.</li>
<li>The firm reported a commendable 14% growth in net income and an expansion in EBITDA margin, indicative of successful efforts in enhancing operational efficiency and cost management.</li>
<li>However, revenue growth showed moderation, impacted by ongoing headwinds in specific sectors like consumer electronics and chemicals, along with a challenging comparison against the prior year’s significant growth in reactive work.</li>
</ul>


Exponent Inc.'s Q2 2024 financial results reveal a mixed performance amid market challenges and strategic adaptations aimed at aligning the company’s operational model with prevailing market conditions.
The firm reported a commendable 14% growth in net income and an expansion in EBITDA margin, indicative of successful efforts in enhancing operational efficiency and cost management.
However, revenue growth showed moderation, impacted by ongoing headwinds in specific sectors like consumer electronics and chemicals, along with a challenging comparison against the prior year’s significant growth in reactive work.


Exponent Inc.: Expanding Market Opportunities in Emerging Technologies!

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

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

The S&amp;P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&amp;P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter &amp; Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we continue to believe upside is likely to be muted as long as this rings true.In today’s report we highlight attractive Groups and stocks within Transportation, Materials, and Services:

The S&amp;P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&amp;P 500 higher in terms of RS are Technology, Services, Facebook (FB), Amazon (AMZN), and Procter &amp; Gamble (PG). If this were a bull market, (1) PG would likely NOT be listed here as leadership, and (2) we would expect to see participation broaden out to Discretionary (RCD), Transportation (IYT), banks (KBE), Industrials (XLI), and small-caps (IWM). All of these areas are still consolidating below meaningful resistance, and we continue to believe upside is likely to be muted as long as this rings true.In today’s report we highlight attractive Groups and stocks within Transportation, Materials, and Services:

U.S. Equity Strategy: Semiconductors, Transportation Improving

United States

Exponent, Inc. is a science and engineering consulting firm that provides solutions and information to complex problems. The Company performs scientific research and analysis, or evaluations, to solve complicated issues facing a range of industries and governments.

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Exponent Inc (EXPO US)

Exponent Inc's New Game-Changing Strategies: Multidisciplinary Problem Solving at Its Best!

Exponent Inc.’s third quarter 2024 financial results demonstrate both resilience and constraints in the context of evolving market dynamics.

Baptista Research

Exponent Inc.: Expanding Market Opportunities in Emerging Technologies!

Exponent Inc.'s Q2 2024 financial results reveal a mixed performance amid market challenges and strategic adaptations aimed at aligning the...

Baptista Research

U.S. Equities: Test Of The Lows Coming?

Now that the initial/primary low has been established and with the S&P 500 roughly 20% off the lows, we believe it is time to map out potential...

Vermilion Research

U.S. Equity Strategy: Semiconductors, Transportation Improving

The S&P 500 continues to move higher on narrow leadership, which is not inspiring a bullish outlook. Currently leading the S&P 500 higher...

Vermilion Research

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