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>Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory towards achieving its strategic and financial objectives.</li><li>The company reported steady revenue growth, a substantial increase in adjusted EBITDA, margin expansion, and generated positive second quarter free cash flow for the first time in five years, leading Sabre to revise its full-year 2024 revenue and adjusted EBITDA guidance upwards.</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>

Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory towards achieving its strategic and financial objectives.The company reported steady revenue growth, a substantial increase in adjusted EBITDA, margin expansion, and generated positive second quarter free cash flow for the first time in five years, leading Sabre to revise its full-year 2024 revenue and adjusted EBITDA guidance upwards.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.

Sabre Corporation: Expansion into NDC & Multisource Platform & Development of SabreMosaic Can Revolutionize Growth? - Major Drivers

<ul><li>Sabre Corporation reported its first quarter 2024 results, reflecting a performance that surpassed its previous guidance, with notable revenue growth and a significant increase in adjusted EBITDA.</li><li>The company credits these outcomes to robust execution, strategic gains in distribution share, and advancements in technology that enhance both efficiency and product offerings.</li><li>Adjusted EBITDA margin notably doubled compared to the same period in the previous year, driven by effective cost management and operational enhancements.</li></ul>

Sabre Corporation reported its first quarter 2024 results, reflecting a performance that surpassed its previous guidance, with notable revenue growth and a significant increase in adjusted EBITDA.The company credits these outcomes to robust execution, strategic gains in distribution share, and advancements in technology that enhance both efficiency and product offerings.Adjusted EBITDA margin notably doubled compared to the same period in the previous year, driven by effective cost management and operational enhancements.

Sabre Corporation: Advancements in Next-Generation Airline IT Solutions & 3 Major Growth Drivers

<ul><li>Sabre Corporation, a major player in the travel technology arena, reported on its fourth quarter and full year results for 2023.</li><li>Significant revenue growth, margin expansion, and impressive gains in adjusted EBITDA and operating cash flow marked the year.</li><li>The company closed 2023 with positive free cash flow, a prime financial objective it continues prioritizing.</li></ul>

Sabre Corporation, a major player in the travel technology arena, reported on its fourth quarter and full year results for 2023.Significant revenue growth, margin expansion, and impressive gains in adjusted EBITDA and operating cash flow marked the year.The company closed 2023 with positive free cash flow, a prime financial objective it continues prioritizing.

Sabre Corporation: Decoding the 6 Primary Factors Contributing To Its Growth! - Major Drivers

<ul><li>In the third quarter, Sabre Corporation had a decent performance with above-par revenues and on-par earnings.</li><li>The company’s quarter was marked by financial growth, advancements in the strategic partnership with Google, commercial victories, and progress in technology transformation.</li><li>The four strategic priorities, encompassing positive free cash flow, long-term sustainable growth, innovation, and technology transformation, remain unchanged and guide resource allocation and decision-making.</li></ul>

In the third quarter, Sabre Corporation had a decent performance with above-par revenues and on-par earnings.The company’s quarter was marked by financial growth, advancements in the strategic partnership with Google, commercial victories, and progress in technology transformation.The four strategic priorities, encompassing positive free cash flow, long-term sustainable growth, innovation, and technology transformation, remain unchanged and guide resource allocation and decision-making.

Sabre Corporation: A Deep Dive into Their Winning Strategy in the Tech-Driven Travel Market! - Major Drivers

Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

Travelsky Technology Ltd H / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> (TravelSky) issued its 2023 operating statistics and a profit warning that is far below market expectations, the share price has plunged by 36% </li>
<li>Our analysis suggests that staff cost, commission, and systems costs have soared. This will be contained when traffic accelerates and absorbs these fixed cost items </li>
<li>Our target price of HKD9.92 <strong>(+21% UPSIDE)</strong> is based on 2024 PE 14.8x (1SD below mean). Keep an eye, worthwhile trade, due for a bounce    </li>
</ul>



Travelsky Technology Ltd H (696 HK) (TravelSky) issued its 2023 operating statistics and a profit warning that is far below market expectations, the share price has plunged by 36% 
Our analysis suggests that staff cost, commission, and systems costs have soared. This will be contained when traffic accelerates and absorbs these fixed cost items 
Our target price of HKD9.92 (+21% UPSIDE) is based on 2024 PE 14.8x (1SD below mean). Keep an eye, worthwhile trade, due for a bounce    


Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better

United States

Sabre Corporation provides technology solutions to the global travel and tourism industry. The Company offers tours and travel services, as well as, online reservations for airlines, hotels, cruises, car rental companies, and vacation packages.

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Sabre Corp (SABR US)

Sabre Corporation: Expansion into NDC & Multisource Platform & Development of SabreMosaic Can Revolutionize Growth? - Major Drivers

Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory...

Baptista Research

Sabre Corporation: Advancements in Next-Generation Airline IT Solutions & 3 Major Growth Drivers

Sabre Corporation reported its first quarter 2024 results, reflecting a performance that surpassed its previous guidance, with notable revenue...

Baptista Research

Sabre Corporation: Decoding the 6 Primary Factors Contributing To Its Growth! - Major Drivers

Sabre Corporation, a major player in the travel technology arena, reported on its fourth quarter and full year results for 2023. Significant...

Baptista Research

Sabre Corporation: A Deep Dive into Their Winning Strategy in the Tech-Driven Travel Market! - Major Drivers

In the third quarter, Sabre Corporation had a decent performance with above-par revenues and on-par earnings. The company’s quarter was marked by...

Baptista Research

Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better

Travelsky issued a profit warning, causing a 36% drop in its share price. Our analysis suggests costs will eventually be in control when traffic...

Mohshin Aziz

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sabre Corporation: Expansion into NDC & Multisource Platform & Development of SabreMosaic Can Revolutionize Growth? - Major Drivers

Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory...

Baptista Research

Sabre Corporation: Advancements in Next-Generation Airline IT Solutions & 3 Major Growth Drivers

Sabre Corporation reported its first quarter 2024 results, reflecting a performance that surpassed its previous guidance, with notable revenue...

Baptista Research

Sabre Corporation: Decoding the 6 Primary Factors Contributing To Its Growth! - Major Drivers

Sabre Corporation, a major player in the travel technology arena, reported on its fourth quarter and full year results for 2023. Significant...

Baptista Research

Sabre Corporation: A Deep Dive into Their Winning Strategy in the Tech-Driven Travel Market! - Major Drivers

In the third quarter, Sabre Corporation had a decent performance with above-par revenues and on-par earnings. The company’s quarter was marked by...

Baptista Research

Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better

​Travelsky issued a profit warning, causing a 36% drop in its share price. Our analysis suggests costs will eventually be in control when traffic...

Mohshin Aziz

Travelsky issued a profit warning, causing a 36% drop in its share price. Our analysis suggests costs will eventually be in control when traffic...