Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

Equity Bottom-Up

Hewlett Packard Enterprise  / Equity Bottom-Up

<ul>
<li>Hewlett Packard Enterprise's quantitative operating features are a mess, with its EBITDA margin, inventory turnover, and NOPAT all in decline.</li>
<li>Yet, we might witness a slowdown in 2023 as corporate earnings could stagnate.</li>
<li>The stock provides a desirable dividend, but its price return prospects are glum.</li>
</ul>


Hewlett Packard Enterprise's quantitative operating features are a mess, with its EBITDA margin, inventory turnover, and NOPAT all in decline.
Yet, we might witness a slowdown in 2023 as corporate earnings could stagnate.
The stock provides a desirable dividend, but its price return prospects are glum.


Hewlett Packard Enterprise: Very, Very Underwhelming

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>Darktrace is a cyber security and AI unicorn backed by leading VC firms. The company was founded in Cambridge, UK, in 2013 and crossed the $500M ARR mark in 2022.  </li>
<li>
<a href="https://www.smartkarma.com/entities/darktrace-plc" target="_blank" data-smartkarma-citation="entities:34466:1" rel="noopener">Darktrace (DARK LN)</a>  currently trades at ~4x EV/CY22E revenues, a steep discount relative to other US-based cybersecurity peers that trade at an average of ~9x EV/CY22E revenues.</li>
<li>The cyber defense company achieved GAAP Op Margin and FCF Margin break-even in FY21 and FY22, with an opportunity to deliver profitable stellar growth in the coming years.</li>
</ul>


Darktrace is a cyber security and AI unicorn backed by leading VC firms. The company was founded in Cambridge, UK, in 2013 and crossed the $500M ARR mark in 2022.  

Darktrace (DARK LN)  currently trades at ~4x EV/CY22E revenues, a steep discount relative to other US-based cybersecurity peers that trade at an average of ~9x EV/CY22E revenues.
The cyber defense company achieved GAAP Op Margin and FCF Margin break-even in FY21 and FY22, with an opportunity to deliver profitable stellar growth in the coming years.


Darktrace: Undervalued Cyber Defense Unicorn. A Steep Discount Is Unjustified

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Railway / China’s railway investment falls for a third straight year</li><li>Covid-19 / China to end quarantine for travelers from Hong Kong to the mainland</li><li>Academic fraud / China punishes dozens for academic fraud at medical universities</li></ul>

Railway / China’s railway investment falls for a third straight yearCovid-19 / China to end quarantine for travelers from Hong Kong to the mainlandAcademic fraud / China punishes dozens for academic fraud at medical universities

CX Daily: China’s Railway Investment Falls for a Third Straight Year

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 Capital Markets

Hewlett Packard Enterprise  / Equity Capital Markets

<ul><li>Hewlett Packard Enterprises had a decent fourth quarter as its revenues managed to surpass Wall Street expectations and strong quarterly free cash flow.</li><li>The company managed to meet Wall Street expectations with respect to earnings.</li><li>We remain neutral on Hewlett Packard Enterprises and maintain our 'Hold' rating with a revised target price.</li></ul>

Hewlett Packard Enterprises had a decent fourth quarter as its revenues managed to surpass Wall Street expectations and strong quarterly free cash flow.The company managed to meet Wall Street expectations with respect to earnings.We remain neutral on Hewlett Packard Enterprises and maintain our 'Hold' rating with a revised target price.

Hewlett Packard Enterprises: New Product Launches & Other Drivers

<ul><li>Hewlett Packard Enterprises managed to deliver a good result with higher gross margins, increased profits, and improving revenues through steady execution in spite of unfavorable foreign exchange and continued tight supply conditions.</li><li>In the quarter, it saw strong consumer demand in a durable, high-quality pipeline and in the market also.</li><li>We provide the stock of Hewlett Packard Enterprise a ‘Hold’ rating with a revision in the target price.</li></ul>

Hewlett Packard Enterprises managed to deliver a good result with higher gross margins, increased profits, and improving revenues through steady execution in spite of unfavorable foreign exchange and continued tight supply conditions.In the quarter, it saw strong consumer demand in a durable, high-quality pipeline and in the market also.We provide the stock of Hewlett Packard Enterprise a ‘Hold’ rating with a revision in the target price.

Hewlett Packard Enterprises: Capacity Expansion Of HPC & Other Drivers

United States

Hewlett Packard Enterprise Company provides information technology solutions. The Company offers enterprise security, analytics and data management, applications development and testing, data center care, cloud consulting, and business process services. Hewlett Packard Enterprise serves customers worldwide.

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Hewlett Packard Enterprise (HPE US)

Hewlett Packard Enterprise: Very, Very Underwhelming

Hewlett Packard Enterprise's quantitative operating features are a mess, with its EBITDA margin, inventory turnover, and NOPAT all in decline.

Pearl Gray Equity and Research

Darktrace: Undervalued Cyber Defense Unicorn. A Steep Discount Is Unjustified

Our analysis suggests Darktrace shares look undervalued relative to peers, and we believe a steep discount is unjustified

Andrei Zakharov

CX Daily: China’s Railway Investment Falls for a Third Straight Year

China’s railway investment falls for a third straight year. China to end quarantine for travelers from Hong Kong to the mainland

Caixin Global

Hewlett Packard Enterprises: New Product Launches & Other Drivers

Hewlett Packard Enterprises had a decent fourth quarter as its revenues managed to surpass Wall Street expectations and strong quarterly free cash...

Baptista Research

Hewlett Packard Enterprises: Capacity Expansion Of HPC & Other Drivers

Hewlett Packard Enterprises managed to deliver a good result with higher gross margins, increased profits, and improving revenues through steady...

Baptista Research

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