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

Meta Platforms (Facebook) / Equity Bottom-Up

<ul>
<li>TikTok's business model advantage: short form video creates greater signal for algorithmic addiction is forcing rivals to react (where possible).</li>
<li>META is best positioned to copy TikTok, and is trading at a valuation approximating cable networks during cord cutting.</li>
<li>Netflix is worst positioned... as YouTube, Instagram, and Snap incorporate TikTok's short form video, more attention will be drawn away from the streaming services. Tough spot to be in.</li>
</ul>


TikTok's business model advantage: short form video creates greater signal for algorithmic addiction is forcing rivals to react (where possible).
META is best positioned to copy TikTok, and is trading at a valuation approximating cable networks during cord cutting.
Netflix is worst positioned... as YouTube, Instagram, and Snap incorporate TikTok's short form video, more attention will be drawn away from the streaming services. Tough spot to be in.


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.

<ul><li>Snap Inc. reported robust financial performance for the first quarter of 2024.</li><li>The company's strategic priorities, including accelerating revenue growth, enhancing community engagement, and leading in augmented reality, seem to be bearing fruit, with revenue growing at an impressive rate of 21% year-over-year.</li><li>Improvements in the advertising platform and favorable industry dynamics contributed significantly to the rise in advertising solutions demand.</li></ul>

Snap Inc. reported robust financial performance for the first quarter of 2024.The company's strategic priorities, including accelerating revenue growth, enhancing community engagement, and leading in augmented reality, seem to be bearing fruit, with revenue growing at an impressive rate of 21% year-over-year.Improvements in the advertising platform and favorable industry dynamics contributed significantly to the rise in advertising solutions demand.

Snap Inc.: Will Its Investment in Artificial Intelligence and Infrastructure Pay Off? - Major Drivers

<ul><li>Based on an analysis of Snap-On Incorporated's 2024 Q1 results and its subsequent earnings call, it's clear that Snap-On's management has remained focussed on sustainability and growth within the face of various market challenges and headwinds.</li><li>Highlighting the positives, Snap-On reported flat sales of $1.18bn, signifying a resilient performance amid market turbulence.</li><li>The company's operating margin improved by 90 basis points to 22.9% due to a legal benefit, but even without this, the margin was among the company’s best.</li></ul>

Based on an analysis of Snap-On Incorporated's 2024 Q1 results and its subsequent earnings call, it's clear that Snap-On's management has remained focussed on sustainability and growth within the face of various market challenges and headwinds.Highlighting the positives, Snap-On reported flat sales of $1.18bn, signifying a resilient performance amid market turbulence.The company's operating margin improved by 90 basis points to 22.9% due to a legal benefit, but even without this, the margin was among the company’s best.

Snap-on Incorporated: A Strong Brand & Improved Product Positioning Revolutionizing Growth? - Major Drivers

<ul><li>Snap-on Incorporated, in its Fourth Quarter and Full Year 2023 Results, has expressed positive insights in amid market disruptions but also shows concerns over changing customer perspectives and rising uncertainties.</li><li>The company, revealing its Q4 and full-year results, registered sales at $1.2 billion, up 3.5% from last year, with a 2.2% increase in organic sales.</li><li>This is credited to the company's ability to adapt to market disruptions.</li></ul>

Snap-on Incorporated, in its Fourth Quarter and Full Year 2023 Results, has expressed positive insights in amid market disruptions but also shows concerns over changing customer perspectives and rising uncertainties.The company, revealing its Q4 and full-year results, registered sales at $1.2 billion, up 3.5% from last year, with a 2.2% increase in organic sales.This is credited to the company's ability to adapt to market disruptions.

Snap-on Incorporated: Strategic Product Shifts & 5 Factors Driving Their Performance In 2024! - Financial Forecasts

<ul><li>Snap Inc.</li><li>achieved significant progress in Q4 2023, driven by its strategic focus on growing its community and enhancing user engagement.</li><li>Monthly active users increased 8% year-over-year, passing the 800 million mark, and daily active users also increased 10% to reach 414 million, which indicates progress towards the company's goal of 1 billion monthly active users.</li></ul>

Snap Inc.achieved significant progress in Q4 2023, driven by its strategic focus on growing its community and enhancing user engagement.Monthly active users increased 8% year-over-year, passing the 800 million mark, and daily active users also increased 10% to reach 414 million, which indicates progress towards the company's goal of 1 billion monthly active users.

Snap Inc: Can Its Optimization Of Machine Learning (ML) Models for Advertising Change The Game? - Major Drivers

United States

Snap Inc. provides technology and social media services. The Company develops mobile camera application products and services that allow users to send and receive photos, drawings, text, and videos. Snap serves customers worldwide.

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Snap (SNAP US)

TMT Pre-2Q Earnings: The TikTok Impact

TikTok is wreaking havoc on the advertising and streaming ecosystems by stealing attention. META is best positioned to respond, NFLX is least well...

Aaron Gabin

Snap Inc.: Will Its Investment in Artificial Intelligence and Infrastructure Pay Off? - Major Drivers

Snap Inc. reported robust financial performance for the first quarter of 2024. The company's strategic priorities, including accelerating revenue...

Baptista Research

Snap-on Incorporated: A Strong Brand & Improved Product Positioning Revolutionizing Growth? - Major Drivers

Based on an analysis of Snap-On Incorporated's 2024 Q1 results and its subsequent earnings call, it's clear that Snap-On's management has remained...

Baptista Research

Snap-on Incorporated: Strategic Product Shifts & 5 Factors Driving Their Performance In 2024! - Financial Forecasts

Snap-on Incorporated, in its Fourth Quarter and Full Year 2023 Results, has expressed positive insights in amid market disruptions but also shows...

Baptista Research

Snap Inc: Can Its Optimization Of Machine Learning (ML) Models for Advertising Change The Game? - Major Drivers

Snap Inc. achieved significant progress in Q4 2023, driven by its strategic focus on growing its community and enhancing user engagement. Monthly...

Baptista Research

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