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>Five9, a noted leader in cloud contact center solutions, has been facing activist pressure in order to explore a potential sale of the company after a decent quarterly result.</li><li>Positively, Five9 reported a solid increase in subscription revenue, growing 20% year-over-year, which underscores its successful transition and dominance in the cloud-based contact center market.</li><li>This growth trajectory is supported by three key trends: the ongoing shift to cloud-based platforms, heightened focus on customer experience enhancement, and revolutionary impacts of AI on customer services.</li></ul>

Five9, a noted leader in cloud contact center solutions, has been facing activist pressure in order to explore a potential sale of the company after a decent quarterly result.Positively, Five9 reported a solid increase in subscription revenue, growing 20% year-over-year, which underscores its successful transition and dominance in the cloud-based contact center market.This growth trajectory is supported by three key trends: the ongoing shift to cloud-based platforms, heightened focus on customer experience enhancement, and revolutionary impacts of AI on customer services.

Five9 Under Pressure From Anson Funds To Explore A Potential Sale! 4 Reasons Why It Could Be An Attractive Acquisition Target! - Financial Forecasts

<ul><li>Five9's recent financial recap underscores its robust position in the cloud-based contact center market, highlighted by a notable 20% year-over-year growth in subscription revenues and a total revenue surpassing guidance expectations.</li><li>These achievements are particularly significant because they underscore organic growth without contributions from transitioning customers from on-premise to cloud solutions, distinguishing Five9 as purely cloud-focused in its operations.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Five9's recent financial recap underscores its robust position in the cloud-based contact center market, highlighted by a notable 20% year-over-year growth in subscription revenues and a total revenue surpassing guidance expectations.These achievements are particularly significant because they underscore organic growth without contributions from transitioning customers from on-premise to cloud solutions, distinguishing Five9 as purely cloud-focused in its operations.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Five9 Inc.: Expansion into AI & Automation Solutions A Critical Growth Catalyst? - Major Drivers

<ul><li>Five9's Q4 earnings showed mixed results.</li><li>Revenue for the quarter grew by 15%, slightly below expectations, and full-year revenue grew by 17%, primarily driven by the company's enterprise business.</li><li>Last twelve month (LTM) subscription revenue was noted to have grown by 25% year over-year, indicating strong demand for Five9's services.</li></ul>

Five9's Q4 earnings showed mixed results.Revenue for the quarter grew by 15%, slightly below expectations, and full-year revenue grew by 17%, primarily driven by the company's enterprise business.Last twelve month (LTM) subscription revenue was noted to have grown by 25% year over-year, indicating strong demand for Five9's services.

Five9 Inc.: Enhanced Artificial Intelligence (AI) and Automation Capabilities

Equity Capital Markets

<ul><li>Five9 delivered an all-around beat in its last result as the company stock has seen a reversal in fortunes over the past few weeks.</li><li>The company gets leverage from its channels, ecosystem of partners, and system integrators, which helped it build its pipeline in its last result.</li><li>Overall, we provide the stock of Five9 with a ‘Hold’ rating and a revision in the target price.</li></ul>

Five9 delivered an all-around beat in its last result as the company stock has seen a reversal in fortunes over the past few weeks.The company gets leverage from its channels, ecosystem of partners, and system integrators, which helped it build its pipeline in its last result.Overall, we provide the stock of Five9 with a ‘Hold’ rating and a revision in the target price.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bigtincan-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29067:1" rel="noopener">Bigtincan Holdings Ltd (BTH AU)</a> disclosed a non-binding indicative offer of A$0.80 per share offer from SQN, a skinny 17.6% premium to the undisturbed price.</li>
<li>The offer is unattractive on several fronts and is the latest beaten-down ASX tech stock to be subject to a PE bid. Expect the Board to reject the offer.</li>
<li>Bigtincan also revealed other non-binding expressions of interest. This offer could flush out other potential bidders. At the last close, the gross spread is 6.0%.</li>
</ul>



Bigtincan Holdings Ltd (BTH AU) disclosed a non-binding indicative offer of A$0.80 per share offer from SQN, a skinny 17.6% premium to the undisturbed price.
The offer is unattractive on several fronts and is the latest beaten-down ASX tech stock to be subject to a PE bid. Expect the Board to reject the offer.
Bigtincan also revealed other non-binding expressions of interest. This offer could flush out other potential bidders. At the last close, the gross spread is 6.0%.


Bigtincan (BTH AU)’s Lightweight A$0.80 Offer from SQN

United States

Box, Inc. develops internet applications software. The Company operates a content sharing platform that enables users to share, access, and manage content in the cloud, as well as provides mobile access, online file storage, and online collaboration solutions. Box serves customers worldwide.

Alarm.com Holdings, Inc. provides interactive security solutions for home and business owners. The Company offers security systems such as image sensor, crash and smash protection, web control, mobile access, and video monitoring. Alarm.com Holdings operates worldwide.

Q2 Holdings Inc is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions, or RCFIs, to deliver a suite of integrated virtual banking services.

Envestnet, Inc. develops and markets computer software for financial advisors. The Company develops Internet-based software that includes risk assessment, investment strategy selection, asset allocation, research and due diligence, portfolio construction, proposal generation, paperwork preparation, model management, account rebalancing, account monitoring, and other features.

Yelp Inc. operates a social networking, user review, and local search web site. The Company provides the site as a guide for online search capabilities for its visitors to find reviews and details about local businesses. Yelp provides listings for businesses throughout the United States and Canada.

Ziff Davis, Inc. operates as a digital media and Internet company. The Company provides portfolio which includes brands in technology, entertainment, shopping, health, cybersecurity, and martech. Ziff Davis serves customers worldwide.

Alteryx, Inc. designs and develops software. The Company provides data storage, retrieval, management, reporting, and analytics solutions. Alteryx serves customers worldwide.

Cvent, Inc. is an organization that offers a platform for cloud-based enterprise event management. The Company provides software solutions to event planners for online event registration, venue selection, event management, mobile applications for events, e-mail marketing, and web surveys.

Gogo Inc. provides in-flight connectivity systems and services. The Company offers online aircraft systems, wireless digital entertainment and other services in the commercial and business aviation markets.

Shutterstock Inc. operates a global marketplace for commercial digital imagery. The Company's online marketplace provides a freely searchable library of commercial digital images that our users can pay to license, download and incorporate into their work.

Kakaku.com, Inc provides price comparison services and products information through its website.  The Company also provides Internet advertising services.

Wangsu Science & Technology Co., Ltd. provides online business solutions in China. The Company also provides Content Delivery Network (CDN), and Internet Data Centers (IDC).

Shanghai Wangsu Science & Technology Co (300017 CH)

Internet Initiative Japan Inc. provides Internet connection services for businesses.  The Company also provides system integration services and sells system equipments.  Internet Initiative Japan offers a variety of services, including network consulting, security, and Web hosting as well.

Beijing Sinnet Technology Company Limited provides customers with broadband access services, IDC and its value-added services, and other internet integrated services. The Company's core business are broadband access services, IDC and its value-added services.

People.cn Company Limited mainly engages in internet advertising, information services, mobile value-added and technical services. The Company's main products include original messages, government information services, public opinion research and consulting, mobile news, and ISP services.

Autohome Inc is an online destination for automobile consumers in China.  The Company delivers comprehensive, independent and interactive content to automobile buyers and owners.

GDS Holdings Limited operates as a holding company. The Company, through its subsidiaries, develops and operates data centers. GDS Holdings offers risk and security management, information technology planing, remote monitoring, cloud hosting, virtualization, disaster recovery, and remote data protection services.

JOYY Inc. operates a global social media platform. The Company offers platform which enables users to interact with each other in real time through online live media by creating, sharing, and enjoying a vast range of entertainment content and activities. JOYY serves customers in China.

Beijing TRS Information Technology Company Limited develops and markets software and technology services for unstructured data management. The Company provides software products that are enterprise search, content management and text mining.

PT Indoritel Makmur Internasional Tbk operates as an investment holding company. The Company is primarily focused on the consumer and retail industries in Indonesia.

Five9, Inc. provides cloud contact center software. The Company offers real-time and historical reporting, recording, quality monitoring, workforce, and customer relationship management integrations. Five9 serves customers worldwide.

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Five9 Inc (FIVN US)

Five9 Under Pressure From Anson Funds To Explore A Potential Sale! 4 Reasons Why It Could Be An Attractive Acquisition Target! - Financial Forecasts

Five9, a noted leader in cloud contact center solutions, has been facing activist pressure in order to explore a potential sale of the company...

Baptista Research

Five9 Inc.: Expansion into AI & Automation Solutions A Critical Growth Catalyst? - Major Drivers

Five9's recent financial recap underscores its robust position in the cloud-based contact center market, highlighted by a notable 20%...

Baptista Research

Five9 Inc.: Enhanced Artificial Intelligence (AI) and Automation Capabilities

Five9's Q4 earnings showed mixed results. Revenue for the quarter grew by 15%, slightly below expectations, and full-year revenue grew by 17%,...

Baptista Research

Five9 Inc: R&D Expansion & Other Drivers

Five9 delivered an all-around beat in its last result as the company stock has seen a reversal in fortunes over the past few weeks. The company...

Baptista Research

Bigtincan (BTH AU)’s Lightweight A$0.80 Offer from SQN

Expect the Board to reject the offer as it is light. The indicative offer could spark other interested parties to show their hand. We would be...

Arun George

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