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>PTC Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings.</li><li>The company's top-line ARR growth showed resilience, solid performance across product groups and geographies, benefiting from cross-selling efforts, and improved sales productivity.</li><li>A mix shift has driven margin expansion to higher-margin software, go-to-market improvements, R&D offshoring, and leveraging scale in a recurring subscription business.</li></ul>

PTC Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings.The company's top-line ARR growth showed resilience, solid performance across product groups and geographies, benefiting from cross-selling efforts, and improved sales productivity.A mix shift has driven margin expansion to higher-margin software, go-to-market improvements, R&D offshoring, and leveraging scale in a recurring subscription business.

PTC Inc.: Will The Creo+ SaaS CAD Solution Catalyze Their Growth? – Key Drivers

<ul><li>PTC delivered a positive result and managed an all-around beat in the last quarter.</li><li>Global PMIs continue hovering in the range of 40s and 50s, which suggests the business environment is quite challenging for industrial companies.</li><li>In CAD, the products that allow the authoring of the product data, PTC delivered growth in ARR in the market that has been growing.</li></ul>

PTC delivered a positive result and managed an all-around beat in the last quarter.Global PMIs continue hovering in the range of 40s and 50s, which suggests the business environment is quite challenging for industrial companies.In CAD, the products that allow the authoring of the product data, PTC delivered growth in ARR in the market that has been growing.

PTC Inc.: What Is The Powerhouse That Is Driving This Company Forward? – Key Drivers

Equity Capital Markets

<ul><li>PTC produced a mixed set of results for the first quarter of fiscal 2023.</li><li>The 14% organic ARR growth was followed by the additional point of inorganic growth from Codebeamer.</li><li>They achieved this so rapidly by utilizing Windchill+'s out-of-the-box functionality, which PTC provided to the user as a secure preconfigured service.</li></ul>

PTC produced a mixed set of results for the first quarter of fiscal 2023.The 14% organic ARR growth was followed by the additional point of inorganic growth from Codebeamer.They achieved this so rapidly by utilizing Windchill+'s out-of-the-box functionality, which PTC provided to the user as a secure preconfigured service.

PTC Inc.: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (03/23)

Credit

<ul><li>PTC is an emerging software company that operates in the rather competitive domains of computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), and service lifecycle management (SLM).</li><li>The company had a rough third quarter and delivered a significantly below par result in terms of both, revenues and earnings.</li><li>Its Windchill+ is still in the early stages of the SaaS transformation which was a slowing factor though PTC had a decent SaaS quarter for Windchill, thanks mostly to a decent mix of SaaS in new projects.</li></ul>

PTC is an emerging software company that operates in the rather competitive domains of computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), and service lifecycle management (SLM).The company had a rough third quarter and delivered a significantly below par result in terms of both, revenues and earnings.Its Windchill+ is still in the early stages of the SaaS transformation which was a slowing factor though PTC had a decent SaaS quarter for Windchill, thanks mostly to a decent mix of SaaS in new projects.

PTC Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report, Key Risks (09/2022)

<ul><li>This is our first report on PTC, an emerging software player in the computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), and service lifecycle management (SLM) space.</li><li>The company had a rough third quarter and delivered a significantly below par result in terms of both, revenues and earnings.</li><li>Its Windchill+ is still in the early stages of the SaaS transformation which was a slowing factor though PTC had a decent SaaS quarter for Windchill, thanks mostly to a decent mix of SaaS in new projects.</li></ul>

This is our first report on PTC, an emerging software player in the computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), and service lifecycle management (SLM) space.The company had a rough third quarter and delivered a significantly below par result in terms of both, revenues and earnings.Its Windchill+ is still in the early stages of the SaaS transformation which was a slowing factor though PTC had a decent SaaS quarter for Windchill, thanks mostly to a decent mix of SaaS in new projects.

PTC Inc.: Initiation of Coverage – The Intland Software Acquisition & Other Drivers

United States

PTC Inc. develops and delivers technology solutions, comprised of software and services. The Company's technology is primarily used by discrete manufacturers to design, operate and maintain complex products. PTC's technology is also used to connect products to the Internet for purposes of capturing and analyzing information from them.

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PTC Inc (PTC US)

PTC Inc.: Will The Creo+ SaaS CAD Solution Catalyze Their Growth? – Key Drivers

PTC Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings. The...

Baptista Research

PTC Inc.: What Is The Powerhouse That Is Driving This Company Forward? – Key Drivers

PTC delivered a positive result and managed an all-around beat in the last quarter. Global PMIs continue hovering in the range of 40s and 50s,...

Baptista Research

PTC Inc.: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (03/23)

PTC produced a mixed set of results for the first quarter of fiscal 2023. The 14% organic ARR growth was followed by the additional point of...

Baptista Research

PTC Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report, Key Risks (09/2022)

PTC is an emerging software company that operates in the rather competitive domains of computer-aided design (CAD), product lifecycle management...

Baptista Research

PTC Inc.: Initiation of Coverage – The Intland Software Acquisition & Other Drivers

This is our first report on PTC, an emerging software player in the computer-aided design (CAD), product lifecycle management (PLM), application...

Baptista Research

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