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>Moodys delivered a positive result and managed an all-around beat in the last quarter.</li><li>Amid a consistent improvement in issuance, Moody's Investor Services (MIS) had its first quarter of revenue gain in six quarters.</li><li>Its revenue growth exceeded issuance growth by growing by 6%.</li></ul>

Moodys delivered a positive result and managed an all-around beat in the last quarter.Amid a consistent improvement in issuance, Moody's Investor Services (MIS) had its first quarter of revenue gain in six quarters.Its revenue growth exceeded issuance growth by growing by 6%.

<ul><li>Moody's Corporation saw some quite strong upticks in usage in the quarter and delivered an all-around beat.</li><li>MA delivered ARR growth of 10% as Moody's continues enhancing and extending its mission-critical workflow solutions and data analytics.</li><li>Despite overall revenues down in the quarter, Moody's adjusted operating margin was up.</li></ul>

Moody's Corporation saw some quite strong upticks in usage in the quarter and delivered an all-around beat.MA delivered ARR growth of 10% as Moody's continues enhancing and extending its mission-critical workflow solutions and data analytics.Despite overall revenues down in the quarter, Moody's adjusted operating margin was up.

Moody's Corporation: How The Management Is Leveraging Its Data Analytics – Key Drivers

<ul><li>Moody’s delivered a strong result in the quarter with an all-around beat and a major update with respect to the acquisition of SCRiesgo to expand its presence in Latin America.</li><li>This quarter demonstrates the resilience and positive momentum of Moody’s Analytics (MA) and also reflects the impact of the challenging market situations on Moody’s Investor Services (MIS).</li><li>Across MA, Moody’s enhanced several workflow offerings via analytics and data integration, creating new products to meet rising consumer needs.</li></ul>

Moody’s delivered a strong result in the quarter with an all-around beat and a major update with respect to the acquisition of SCRiesgo to expand its presence in Latin America.This quarter demonstrates the resilience and positive momentum of Moody’s Analytics (MA) and also reflects the impact of the challenging market situations on Moody’s Investor Services (MIS).Across MA, Moody’s enhanced several workflow offerings via analytics and data integration, creating new products to meet rising consumer needs.

Moody’s Corp: Acquisition Of SCRiesgo & Other Drivers

Founder of Antler Capital

Stanley Tsai, CFA

<ul>
<li>S&amp;P (the company) may be a lot more exposed than S&amp;P (the index) if rates stay higher for longer and bets against the Fed unwind in 2H23.</li>
<li>While we like the rating agency and financial data provider's business portfolio, valuation is looking a bit stretched based on fundamental, relative and technical valuation metrics.</li>
<li>We believe it is unlikely that the stock will push through the USD375/share resistance level in the near term, and would look for entry opportunities closer to USD325/share.</li>
</ul>


S&amp;P (the company) may be a lot more exposed than S&amp;P (the index) if rates stay higher for longer and bets against the Fed unwind in 2H23.
While we like the rating agency and financial data provider's business portfolio, valuation is looking a bit stretched based on fundamental, relative and technical valuation metrics.
We believe it is unlikely that the stock will push through the USD375/share resistance level in the near term, and would look for entry opportunities closer to USD325/share.


S&P (SPGI US) VS S&P (SPX Index): A Leveraged Play on Rate Expectations

<ul><li>Moody’s Corporation delivered a disappointing result, failing to meet Wall Street expectations with respect to both, revenues as well as earnings.</li><li>The Moody’s Analytics business continued to perform quite well with strong revenue growth and an increase in the annualized recurring revenue.</li><li>We provide the stock of Moody’s with a ‘Hold’ rating with a revision in the target price.</li></ul>

Moody’s Corporation delivered a disappointing result, failing to meet Wall Street expectations with respect to both, revenues as well as earnings.The Moody’s Analytics business continued to perform quite well with strong revenue growth and an increase in the annualized recurring revenue.We provide the stock of Moody’s with a ‘Hold’ rating with a revision in the target price.

Moody’s Corporation: ESG Insurance Underwriting Solutions & Other Drivers

United States

Moody's Corporation is a credit rating, research, and risk analysis firm.  The Company provides credit ratings and related research, data and analytical tools, quantitative credit risk measures, risk scoring software, and credit portfolio management solutions and securities pricing software and valuation models.

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Moody's Corp (MCO US)

Moody's Corporation: Recent Acquisitions

Moodys delivered a positive result and managed an all-around beat in the last quarter. Amid a consistent improvement in issuance, Moody's Investor...

Baptista Research

Moody's Corporation: How The Management Is Leveraging Its Data Analytics – Key Drivers

Moody's Corporation saw some quite strong upticks in usage in the quarter and delivered an all-around beat. MA delivered ARR growth of 10% as...

Baptista Research

Moody’s Corp: Acquisition Of SCRiesgo & Other Drivers

Moody’s delivered a strong result in the quarter with an all-around beat and a major update with respect to the acquisition of SCRiesgo to expand...

Baptista Research

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S&P the company has outperformed its namesake index on hopes that ratings fees will recover this year. But the stock's annuity-like features may...

Stanley Tsai, CFA

Moody’s Corporation: ESG Insurance Underwriting Solutions & Other Drivers

Moody’s Corporation delivered a disappointing result, failing to meet Wall Street expectations with respect to both, revenues as well as...

Baptista Research

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