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.

Equity Bottom-Up

<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

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Rubrik, a data security company and leader in cyber-recovery, completed its IPO and sold 23.5M Class A shares to the public at $32.00/share in May.</li>
<li>The technology company reported a mixed quarter pushing shares down over 8% during regular trading session. Q1 FY25 net loss was ~$732M due to massive stock-based comp.</li>
<li>However, subscription ARR increased 46% y/y and cloud ARR jumped 104% y/y indicating continued strength in the company’s Rubrik Security Cloud offering.</li>
</ul>


Rubrik, a data security company and leader in cyber-recovery, completed its IPO and sold 23.5M Class A shares to the public at $32.00/share in May.
The technology company reported a mixed quarter pushing shares down over 8% during regular trading session. Q1 FY25 net loss was ~$732M due to massive stock-based comp.
However, subscription ARR increased 46% y/y and cloud ARR jumped 104% y/y indicating continued strength in the company’s Rubrik Security Cloud offering.


Rubrik: Long Path To Profitability, Massive Stock-Based Comp in Q1 FY25, PT Reduced To $46.00

Equity Capital Markets

<ul>
<li>Rubrik, a leading VC-backed security software company, filed for a long-awaited IPO in the United States, with Goldman Sachs, Citigroup, Barclays and Wells Fargo leading the offering. </li>
<li>The technology company is focused on data protection and helps organizations to protect their data and recover it in case of cyberattacks.</li>
<li>Rubrik was founded by Bipul Sinha, Arvind Nithrakashyap, Arvind Jain and Soham Mazumdar, and backed by VC investors, including Lightspeed Venture Partners, Greylock Partners and Khosla Ventures.</li>
</ul>


Rubrik, a leading VC-backed security software company, filed for a long-awaited IPO in the United States, with Goldman Sachs, Citigroup, Barclays and Wells Fargo leading the offering. 
The technology company is focused on data protection and helps organizations to protect their data and recover it in case of cyberattacks.
Rubrik was founded by Bipul Sinha, Arvind Nithrakashyap, Arvind Jain and Soham Mazumdar, and backed by VC investors, including Lightspeed Venture Partners, Greylock Partners and Khosla Ventures.


Rubrik IPO Preview and Valuation Analysis: 2024’s Hottest SaaS Investment Opportunity

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

<ul>
<li>Since early November 2023 we have laid out our bullish expectations for a year-end rally that we anticipated would continue into the early part of 2024. </li>
<li>Here we are in the early part of 2024, and we see every reason to continue riding this bull market higher. We see small- and mid-caps resuming uptrends $IWM $VXF</li>
<li>Downgrading Staples (XLP) to underweight after brief stint at market weight. Highlighting several buys within Financials: Property &amp; Casualty Insurance BRK.B, PGR, CB, TRV, ALL, CINF, ERIE, and more</li>
</ul>


Since early November 2023 we have laid out our bullish expectations for a year-end rally that we anticipated would continue into the early part of 2024. 
Here we are in the early part of 2024, and we see every reason to continue riding this bull market higher. We see small- and mid-caps resuming uptrends $IWM $VXF
Downgrading Staples (XLP) to underweight after brief stint at market weight. Highlighting several buys within Financials: Property &amp; Casualty Insurance BRK.B, PGR, CB, TRV, ALL, CINF, ERIE, and more


Continue Riding This Bull Market Higher; Small- And Mid-Caps Resuming Uptrends; Downgrading Staples

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.</li><li>As of last Friday’s close, the S&amp;P 500 is up about 2% YTD. However, without the contribution of chip maker Nvidia (NVDA) it would be flat YTD.</li><li>Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.</li></ul>

Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.As of last Friday’s close, the S&amp;P 500 is up about 2% YTD. However, without the contribution of chip maker Nvidia (NVDA) it would be flat YTD.Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&amp;P 500 index performance.

United States

SentinelOne, Inc. operates as a software company. The Company develops security platforms to protect organizations against advanced threats and nation state malware. SentinelOne serves customers worldwide.

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SentinelOne (S US)

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

Rubrik: Long Path To Profitability, Massive Stock-Based Comp in Q1 FY25, PT Reduced To $46.00

Rubrik stock currently trades below IPO price of $32.00/share. Data security company completed its IPO in May and raised ~$750M. With a recent sell...

Andrei Zakharov

Rubrik IPO Preview and Valuation Analysis: 2024’s Hottest SaaS Investment Opportunity

In my in-depth insight, I highlight Rubrik's potential as a top investment opportunity in the software IPO market this year

Andrei Zakharov

Continue Riding This Bull Market Higher; Small- And Mid-Caps Resuming Uptrends; Downgrading Staples

Continue Riding This Bull Market Higher; Small- and Mid-Caps Resuming Uptrends $IWM $RTY $VXF; Downgrading Consumer Staples $XLP to Underweight...

Vermilion Research

Weekly Stock Bullfinder - Week of 3/27

Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall...

Weekly Stock Bull Finder

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