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>Palo Alto Networks' fiscal fourth quarter 2024 earnings announcement underscores both strides and challenges in the cybersecurity landscape, reflecting a dynamic sector intensively engaged with technological advancements and emerging threats.</li><li>Chairman and CEO Nikesh Arora detailed the company's response to significant cybersecurity threats, including ransomware and public data extortion, emphasizing a heightened focus on AI and platformization to simplify client security architectures.</li><li>Financially, Palo Alto Networks reported exceeding its quarterly revenue and EPS guidance.</li></ul>

Palo Alto Networks' fiscal fourth quarter 2024 earnings announcement underscores both strides and challenges in the cybersecurity landscape, reflecting a dynamic sector intensively engaged with technological advancements and emerging threats.Chairman and CEO Nikesh Arora detailed the company's response to significant cybersecurity threats, including ransomware and public data extortion, emphasizing a heightened focus on AI and platformization to simplify client security architectures.Financially, Palo Alto Networks reported exceeding its quarterly revenue and EPS guidance.

Palo Alto Networks' Bold Shift: Can AI-Driven Security Keep Up with Cyber Threats?

<ul><li>Palo Alto Networks, a cybersecurity company, has reported a strong fiscal third quarter 2024.</li><li>The company continues to observe robust cyberattack activities, with an increasing focus on software supply chain and hardware vulnerabilities.</li><li>Notably, the adoption and experimentation of artificial intelligence (AI) by their customers have introduced a new set of threats, leading to the development of security products designed specifically to secure AI usage.</li></ul>

Palo Alto Networks, a cybersecurity company, has reported a strong fiscal third quarter 2024.The company continues to observe robust cyberattack activities, with an increasing focus on software supply chain and hardware vulnerabilities.Notably, the adoption and experimentation of artificial intelligence (AI) by their customers have introduced a new set of threats, leading to the development of security products designed specifically to secure AI usage.

Palo Alto Networks: Will Its Investments In AI Capabilities Provide A Much Needed Competitive Edge? - Major Drivers

<ul><li>Palo Alto Networks' Q2 2024 earnings highlight indicate the company's continued success in executing its profitable growth strategy.</li><li>The cybersecurity giant achieved significant top-line growth with revenues surging by 19% YoY, the RPO growing by 22%, and billings increasing by 16% YoY. Impressive, non-GAAP operating margins of 28.6% expanded roughly 600 basis points YoY, generating $2.9 billion in adjusted free cash flow on a trailing 12-month basis.</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>

Palo Alto Networks' Q2 2024 earnings highlight indicate the company's continued success in executing its profitable growth strategy.The cybersecurity giant achieved significant top-line growth with revenues surging by 19% YoY, the RPO growing by 22%, and billings increasing by 16% YoY. Impressive, non-GAAP operating margins of 28.6% expanded roughly 600 basis points YoY, generating $2.9 billion in adjusted free cash flow on a trailing 12-month basis.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.

Palo Alto Networks: Is The Increased Demand For Cybersecurity Platforms Expected To Last? - Major Drivers

<ul><li>Palo Alto Networks, Inc. managed to exceed the revenue expectations as well as the earnings expectations of Wall Street.</li><li>Notably, subscription revenue surged by 29% to $988 million, and support revenue reached $549 million, growing by 17%.</li><li>In Network Security, the company continued driving innovation toward Zero Trust architecture, unifying management through PAN-OS 11.1 and Strata Cloud Manager.</li></ul>

Palo Alto Networks, Inc. managed to exceed the revenue expectations as well as the earnings expectations of Wall Street.Notably, subscription revenue surged by 29% to $988 million, and support revenue reached $549 million, growing by 17%.In Network Security, the company continued driving innovation toward Zero Trust architecture, unifying management through PAN-OS 11.1 and Strata Cloud Manager.

Palo Alto Networks Inc.: Can The Acquisition Of Dig Security Be A Game Changer? - Major Drivers

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

<ul>
<li>Crowdstrike printed a superb quarter, continues to beat and raise despite overblown competitive concerns with new disclosures around non-endpoint ARR shows this becoming a true platform.</li>
<li>Revenue growth (+63%), Margin expansion (+570bps) and FCF generation (46% FCF margins) shows best in class rule of 40 SaaS metric.</li>
<li>Next catalyst is Analyst Day in April, expect LT targets to get increased.</li>
</ul>


Crowdstrike printed a superb quarter, continues to beat and raise despite overblown competitive concerns with new disclosures around non-endpoint ARR shows this becoming a true platform.
Revenue growth (+63%), Margin expansion (+570bps) and FCF generation (46% FCF margins) shows best in class rule of 40 SaaS metric.
Next catalyst is Analyst Day in April, expect LT targets to get increased.


Crowdstrike FY4Q22: (Bear) Case Adjourned

United States

Palo Alto Networks, Inc. provides network security solutions. The Company offers firewalls that identify and control applications, scan content to stop threats, prevent data leakage, integrated application, user, and content visibility. Palo Alto Networks serves customers worldwide.

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Palo Alto Networks (PANW US)

Palo Alto Networks' Bold Shift: Can AI-Driven Security Keep Up with Cyber Threats?

Palo Alto Networks' fiscal fourth quarter 2024 earnings announcement underscores both strides and challenges in the cybersecurity landscape,...

Baptista Research

Palo Alto Networks: Will Its Investments In AI Capabilities Provide A Much Needed Competitive Edge? - Major Drivers

Palo Alto Networks, a cybersecurity company, has reported a strong fiscal third quarter 2024. The company continues to observe robust cyberattack...

Baptista Research

Palo Alto Networks: Is The Increased Demand For Cybersecurity Platforms Expected To Last? - Major Drivers

Palo Alto Networks' Q2 2024 earnings highlight indicate the company's continued success in executing its profitable growth strategy. The...

Baptista Research

Palo Alto Networks Inc.: Can The Acquisition Of Dig Security Be A Game Changer? - Major Drivers

Palo Alto Networks, Inc. managed to exceed the revenue expectations as well as the earnings expectations of Wall Street. Notably, subscription...

Baptista Research

Crowdstrike FY4Q22: (Bear) Case Adjourned

Crowdstrike printed a superb quarter, continues to beat and raise despite overblown competitive concerns with new disclosures around non-endpoint...

Aaron Gabin

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