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 Capital Markets

<ul><li>Sabre had a challenging Q3 and failed to meet the revenue expectations of Wall Street while delivering wider-than-expected losses.</li><li>Sabre generated total revenue of $441 million in the quarter, a substantial improvement compared to $278 million in Q3 2020.</li><li>The distribution revenue of Sabre increased by $140 million year-on-year, and the IT Solutions revenue increased to $145 million in Q3.</li></ul>

Sabre had a challenging Q3 and failed to meet the revenue expectations of Wall Street while delivering wider-than-expected losses.Sabre generated total revenue of $441 million in the quarter, a substantial improvement compared to $278 million in Q3 2020.The distribution revenue of Sabre increased by $140 million year-on-year, and the IT Solutions revenue increased to $145 million in Q3.

Sabre Corp: Leveraging The Global Travel Recovery? - Key Drivers

Credit

<ul><li>Sabre Corporation is a renowned provider of software and technology solutions for the travel industry worldwide.</li><li>Sabre migrated the Enterprise Central Reservation System of Hospitality Solutions to Google Cloud.</li><li>The company's property management system migrated, which means that the company has fully transitioned all its SynXis to Google Cloud.</li></ul>

Sabre Corporation is a renowned provider of software and technology solutions for the travel industry worldwide.Sabre migrated the Enterprise Central Reservation System of Hospitality Solutions to Google Cloud.The company's property management system migrated, which means that the company has fully transitioned all its SynXis to Google Cloud.

Sabre Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on Sabre Corporation, a well-known provider of software and technology solutions for the travel industry worldwide.</li><li>In this quarter, Sabre migrated the Enterprise Central Reservation System of Hospitality Solutions to Google Cloud.</li><li>The company's property management system migrated, which means that the company has fully transitioned all its SynXis to Google Cloud.</li></ul>

This is our first report on Sabre Corporation, a well-known provider of software and technology solutions for the travel industry worldwide.In this quarter, Sabre migrated the Enterprise Central Reservation System of Hospitality Solutions to Google Cloud.The company's property management system migrated, which means that the company has fully transitioned all its SynXis to Google Cloud.

Sabre Corporation: Initiation of Coverage – Business Strategy & Key Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

VanEck Gold Miners ETF/USA / Technical Analysis

<ul>
<li>Large-Cap indexes are approaching critical support levels, including 4257 on the S&amp;P 500, $334 on the Nasdaq 100 (QQQ), and 33,250 on the DJIA. These are our "lines-in-the-sand" moving forward.</li>
<li>We expect for supports to hold, but breakdowns below these levels would not be surprising and would likely mean an additional 8-15% downside based on measured moves.</li>
<li>Charts Highlighted: S&amp;P 500, QQQ, DJIA, Bitcoin, XLP, XLU, IWM, IJR, BKNG, EXPE, SABR, DESP, NEM, GOLD, FNV, AEM, RGLD, GFI, SBSW, and AU.</li>
</ul>


Large-Cap indexes are approaching critical support levels, including 4257 on the S&amp;P 500, $334 on the Nasdaq 100 (QQQ), and 33,250 on the DJIA. These are our "lines-in-the-sand" moving forward.
We expect for supports to hold, but breakdowns below these levels would not be surprising and would likely mean an additional 8-15% downside based on measured moves.
Charts Highlighted: S&amp;P 500, QQQ, DJIA, Bitcoin, XLP, XLU, IWM, IJR, BKNG, EXPE, SABR, DESP, NEM, GOLD, FNV, AEM, RGLD, GFI, SBSW, and AU.


S&P 500, Nasdaq 100, DJIA Testing Support; Buying Gold Miners and Online Travel

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

RateGain Travel Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rategain-travel-technologies" target="_blank" data-smartkarma-citation="entities:35265:1" rel="noopener">RateGain Travel Technologies (1920810D IN)</a> raised around US$177m in its India IPO. The deal comprised a mix of primary and secondary shares.</li>
<li>In our view, this listing being the first SaaS firm out of India, could garner investor interest which would aid listing sentiment as well.</li>
<li>In this note we will talk about the subscription levels and trading dynamics.</li>
</ul>



RateGain Travel Technologies (1920810D IN) raised around US$177m in its India IPO. The deal comprised a mix of primary and secondary shares.
In our view, this listing being the first SaaS firm out of India, could garner investor interest which would aid listing sentiment as well.
In this note we will talk about the subscription levels and trading dynamics.


RateGain Travel Technologies IPO Trading - Deals with Similar Sub-Rates Have Generally Traded Higher

United States

CSG Systems International, Inc. provides customer care and billing solutions for cable television providers, direct broadcast satellite providers, on-line services markets, and telephony providers. The Company offers a suite of processing and related services, as well as software and professional services which automate customer care and billing functions.

MoneyGram International, Inc. provides payment services to consumers and businesses through a network of agents and its financial institution customers. The Company enables consumers to make payments and to transfer money around the world.

Fastly, Inc. provides infrastructure software. The Company offers cloud computing, image optimization, security, edge computer technology, and streaming solutions. Fastly serves customers in the United States.

Evo Payments, Inc. operates as a payment technology and services provider. The Company offers payment solutions to the merchants ranging from micro-enterprises to multinational companies and organizations. Evo Payments serves customers North America and Europe.

Conduent Inc operates as a business process services company. The Company specializes in transaction-intensive processing, analytics, and automation. Conduent serves the commercial industries, healthcare, and public sectors.

Everi Holdings Inc., operates as a holding company. The Company, through its subsidiary, designs, develops, and manufactures casino games, as well as provides cash access and customer relationship marketing technologies to the gaming industry. Everi delivers products and services to gaming properties worldwide.

Rackspace Technology, Inc. provides information technology services. The Company offers colocation, managed cloud and hosting, compliance assistance, enterprise security, and data protection services. Rackspace Technology serves customers worldwide.

Hackett Group, Inc. provides business consulting and technology implementation services.  The Company offers best practice research, benchmarking, business transformation, and working capital management services.  Hackett Group has offices in cities throughout the United States, Europe, and India.

Boku, Inc. provides online mobile payment services. The Company offers a payment platform that integrates into mobile network operator protocol and enables people to pay for the goods using their mobile phone. Boku serves customers worldwide.

Cass Information Systems, Inc. provides freight and utility invoice payment services to Fortune 500 and major logistics companies across North America.  The Company also provides specialized banking services to privately held companies in St. Louis, Missouri, and to churches throughout the United States.

Chinasoft International Limited develops and provides solutions in China to government authorities and its IT (Information Technology) service providers. The Company also provides IT consulting and training services, IT outsourcing services and standalone software products.

SHIFT Inc. offers information technology outsourcing services. The Company provides outsourcing software testing services to corporations and individual clients. SHIFT also provides software solutions and consulting services, as well as educational classes and programs.

PCI-Suntek Technology Co., Ltd. provides customer service solutions for telecommunication service providers, banks, and securities firms.  The Company develops voice service systems, calling center systems, telecommunication operation and maintenance systems, and other value-added service solutions.

DTS CORPORATION provides system, operation, and network engineering services for financial and communication-related companies.  The Company also provides product services and support services including system development, maintenance, and management.

Jasmine Telecom Systems PCL provides a wide range of telecommunications services and equipment. The Company leases submarine fiber optic cable network and provides satellite telecommunications,  Internet and satellite-based mobile communications services. Jasmine also supplies, designs, and installs telecommunication and computer networks, including other peripheral equipment.

Iress Limited provides real-time information services to businesses that specialize in the equity, equity options and future information markets in Australia and New Zealand. The Group supplies a range of pricing data, charting, news and equity and equity derivatives and also offers real-time trading tools, including a domestic order routing product and financial

eClerx Services Limited provides data analytics and solutions to global enterprise clients in the financial services, retail and manufacturing industries. The Company offers data analytics, operations management, data audits, metrics management and reporting services.

Digital China Information Service Company Ltd is principally engaged in systems integration, technical services, application software development and finance special equipment related businesses.

Digital China Information Service (000555 CH)

Taiji Computer Corporation Limited develops, designs, manufactures, sells and repair computer, integrated circuit, software and communication equipment. The Company's services include industry-specific solution, IT consulting, value-added services, and IT infrastructure services.

TKC Corporation is an consulting firm that provides accounting and tax information with local and overseas clients.  The Company provides database services for judicial precedents in tax and civil law.  TKC develops and sells personal computer and office automation equipment, and also provides nationwide management data-process consulting services.

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 Corp: Leveraging The Global Travel Recovery? - Key Drivers

Sabre had a challenging Q3 and failed to meet the revenue expectations of Wall Street while delivering wider-than-expected losses. Sabre generated...

Baptista Research

Sabre Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

Sabre Corporation is a renowned provider of software and technology solutions for the travel industry worldwide. Sabre migrated the Enterprise...

Baptista Research

Sabre Corporation: Initiation of Coverage – Business Strategy & Key Drivers

This is our first report on Sabre Corporation, a well-known provider of software and technology solutions for the travel industry worldwide. In...

Baptista Research

S&P 500, Nasdaq 100, DJIA Testing Support; Buying Gold Miners and Online Travel

Large-cap indexes are approaching critical support levels of 4257 on S&P 500, $334 on Nasdaq 100 (QQQ), and 33,250 on DJIA. These are our "lines in...

Vermilion Research

RateGain Travel Technologies IPO Trading - Deals with Similar Sub-Rates Have Generally Traded Higher

RateGain Travel Technologies (1920810D IN) raised around US$177m in its India IPO. The deal comprised a mix of primary and secondary shares.

Clarence Chu

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