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>Pinterest's third quarter of 2024 results demonstrate mixed performance with notable advancements in its strategic initiatives focused on user growth, deeper engagement, and enhanced monetization through a full-funnel advertising strategy.</li><li>The company reported revenues of $898 million, marking an 18% year-over-year increase, attributed largely to improvements in lower-funnel capabilities which are designed to convert user intention into action through enhanced shopping features and more sophisticated ad delivery systems.</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>

Pinterest's third quarter of 2024 results demonstrate mixed performance with notable advancements in its strategic initiatives focused on user growth, deeper engagement, and enhanced monetization through a full-funnel advertising strategy.The company reported revenues of $898 million, marking an 18% year-over-year increase, attributed largely to improvements in lower-funnel capabilities which are designed to convert user intention into action through enhanced shopping features and more sophisticated ad delivery systems.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.

Pinterest Inc.: Ad Innovation & AI Capabilities Driving Our Optimism! - Major Drivers

<ul><li>Pinterest's second quarter of 2024 marked further growth in users and revenue, demonstrating continued success in the company’s strategic initiatives.</li><li>Monetary performance was strong with substantial growth, but some challenges were observed that could potentially impact long-term performance.</li><li>Ending the quarter with 522 million global monthly active users, representing a 12% year-over-year growth, Pinterest illustrated active engagement across all geographical regions.</li></ul>

Pinterest's second quarter of 2024 marked further growth in users and revenue, demonstrating continued success in the company’s strategic initiatives.Monetary performance was strong with substantial growth, but some challenges were observed that could potentially impact long-term performance.Ending the quarter with 522 million global monthly active users, representing a 12% year-over-year growth, Pinterest illustrated active engagement across all geographical regions.

Pinterest Inc.: Focus on Lower Funnel Advertising Products & Key Factors Driving Our Bullish Thesis! - Financial Forecasts

<ul><li>Pinterest reported healthy growth trends with bright prospects, although there are challenges and areas in need of improvement, making an investment thesis mix of cautious optimism and risk mitigation.</li><li>Positively, Pinterest revealed impressive progress in terms of both user engagement and operational efficiency.</li><li>The platform has surpassed 500 million global Monthly Active Users (MAUs) for the first time, increasing by 12%, marking its seventh quarter of consecutive acceleration.</li></ul>

Pinterest reported healthy growth trends with bright prospects, although there are challenges and areas in need of improvement, making an investment thesis mix of cautious optimism and risk mitigation.Positively, Pinterest revealed impressive progress in terms of both user engagement and operational efficiency.The platform has surpassed 500 million global Monthly Active Users (MAUs) for the first time, increasing by 12%, marking its seventh quarter of consecutive acceleration.

Pinterest Inc.:  Operating On A Niche In The Digital Advertising Ecosystem! - 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>Elliott Management has bought a $2B stake in PayPal and seeks cost cutting measures.</li>
<li>PayPal has started to take action through cost cutting, a new buyback, new organizational measures, and increased focus on revenue strategy.</li>
<li>The wild card that would get us more bullish is Elliott forcing a merger with Pinterest, which would yield a readymade Dan Schulman replacement in Bill Ready.</li>
</ul>


Elliott Management has bought a $2B stake in PayPal and seeks cost cutting measures.
PayPal has started to take action through cost cutting, a new buyback, new organizational measures, and increased focus on revenue strategy.
The wild card that would get us more bullish is Elliott forcing a merger with Pinterest, which would yield a readymade Dan Schulman replacement in Bill Ready.


PayPal: Elliott Sees Opportunity, So Do We

<ul><li>Pinterest Inc saw record Global MAUs of 498 million, an 11% growth from the previous year, and revenue growth of 12% amounting to $981 million.</li><li>The multi-fold success of Pinterest's investment into lower funnel offerings, such as mobile deep linking and shopping ads, has led to substantial ROI improvements for advertisers, encouraging them to increase their budgets.</li><li>This success is also extending into Q1 of 2024.</li></ul>

Pinterest Inc saw record Global MAUs of 498 million, an 11% growth from the previous year, and revenue growth of 12% amounting to $981 million.The multi-fold success of Pinterest's investment into lower funnel offerings, such as mobile deep linking and shopping ads, has led to substantial ROI improvements for advertisers, encouraging them to increase their budgets.This success is also extending into Q1 of 2024.

Pinterest Inc: Investment in AI Talent and B2B Marketing and 6 Other Factors Driving Their Growth In 2024 & Beyond! - Financial Forecasts

United States

Pinterest, Inc. operates and maintains social networking site. The Company provides online venue for personal photos, ideas, oddities, decorations, places to visit, recipes, and other items. Pinterest serves customers worldwide.

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Pinterest (PINS US)

Pinterest Inc.: Ad Innovation & AI Capabilities Driving Our Optimism! - Major Drivers

Pinterest's third quarter of 2024 results demonstrate mixed performance with notable advancements in its strategic initiatives focused on user...

Baptista Research

Pinterest Inc.: Focus on Lower Funnel Advertising Products & Key Factors Driving Our Bullish Thesis! - Financial Forecasts

Pinterest's second quarter of 2024 marked further growth in users and revenue, demonstrating continued success in the company’s strategic...

Baptista Research

Pinterest Inc.: Operating On A Niche In The Digital Advertising Ecosystem! - Major Drivers

Pinterest reported healthy growth trends with bright prospects, although there are challenges and areas in need of improvement, making an...

Baptista Research

PayPal: Elliott Sees Opportunity, So Do We

We think Elliott's stake in PayPal and management's 4 pronged plan announced on last week's earnings has put the floor in on PYPL. Trading at an...

Aaron Gabin

Pinterest Inc: Investment in AI Talent and B2B Marketing and 6 Other Factors Driving Their Growth In 2024 & Beyond! - Financial Forecasts

Pinterest Inc saw record Global MAUs of 498 million, an 11% growth from the previous year, and revenue growth of 12% amounting to $981...

Baptista Research

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