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

Workday Inc Class A / Equity Capital Markets

<ul><li>Workday delivered a strong result, driven by a healthy demand for its Human Capital Management (HCM) solutions.</li><li>Apart from substantial growth in core HCM, their newly acquired Peakon Solution, now known as Workday Peakon Employee Voice, achieved another record quarter.</li><li>The company’s rebundling of its HCM offerings with financial management offerings has expanded its addressable market and improved its growth potential.</li></ul>

Workday delivered a strong result, driven by a healthy demand for its Human Capital Management (HCM) solutions.Apart from substantial growth in core HCM, their newly acquired Peakon Solution, now known as Workday Peakon Employee Voice, achieved another record quarter.The company’s rebundling of its HCM offerings with financial management offerings has expanded its addressable market and improved its growth potential.

Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul><li>The unprecedented amount of liquidity is having profound implications for high growth tech companies.</li><li>Expected topline growth rate has become the number one business valuation driver in the cloud space.</li><li>The hidden risk of rising interest rates and fading momentum trade is often left unaccounted for, which could soon create serious problems.</li></ul>

The unprecedented amount of liquidity is having profound implications for high growth tech companies.Expected topline growth rate has become the number one business valuation driver in the cloud space.The hidden risk of rising interest rates and fading momentum trade is often left unaccounted for, which could soon create serious problems.

The Cloud Space In Numbers: What Matters The Most

<ul><li>Workday delivered a robust second quarter result and went on to achieve the target price from our last report.</li><li>In Q2, the company’s subscription revenue was $1.11 billion, up 20% year-over-year, driven by favorable in-quarter linearity, robust new business sales, and an over performance on customer renewals with gross retention of over 95%.</li><li>Workday is being able to make the most out of the digitization trends and we are optimistic about its future.</li></ul>

Workday delivered a robust second quarter result and went on to achieve the target price from our last report.In Q2, the company’s subscription revenue was $1.11 billion, up 20% year-over-year, driven by favorable in-quarter linearity, robust new business sales, and an over performance on customer renewals with gross retention of over 95%.Workday is being able to make the most out of the digitization trends and we are optimistic about its future.

<ul>
<li>After having a go at SAP during the last earnings release in March, Oracle is due to announce its quarterly results this week.</li>
<li>The company continues to strengthen its dominant position in the Enterprise Resource Planning space and is seeing stronger momentum.</li>
<li>The supply-constrained Oracle Cloud Infrastructure offers a key competitive advantage for Oracle's ERP and database services.</li>
</ul>


After having a go at SAP during the last earnings release in March, Oracle is due to announce its quarterly results this week.
The company continues to strengthen its dominant position in the Enterprise Resource Planning space and is seeing stronger momentum.
The supply-constrained Oracle Cloud Infrastructure offers a key competitive advantage for Oracle's ERP and database services.


Oracle: The Turning Point Of The Business

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.

<p>Kind of a mediocre underwhelming analyst presentation by one of our favorite software companies, but the larger long term picture remains intact: a huge pool of legacy incumbent endpoint providers that Crowdstrike will feast on for years to come.</p><p></p><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity. </p></div>

Kind of a mediocre underwhelming analyst presentation by one of our favorite software companies, but the larger long term picture remains intact: a huge pool of legacy incumbent endpoint providers that Crowdstrike will feast on for years to come.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity. 

Crowdstrike Analyst Day: Really, Just $3B in ARR?

United States

Workday, Inc. provides enterprise cloud-based applications. The Company offers human capital, spend, and financial management, as well as payroll, initiatives and higher education solutions. Workday serves the finance, healthcare, manufacturing, education, and technology industries worldwide.

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Workday Inc Class A (WDAY US)

Workday Inc. - Investment Thesis

Workday delivered a strong result, driven by a healthy demand for its Human Capital Management (HCM) solutions. Apart from substantial growth in...

Baptista Research

The Cloud Space In Numbers: What Matters The Most

The unprecedented amount of liquidity is having profound implications for high growth tech companies. Expected topline growth rate has become the...

Vladimir Dimitrov, CFA

Workday Inc. - Investment Thesis

Workday delivered a robust second quarter result and went on to achieve the target price from our last report. In Q2, the company’s subscription...

Baptista Research

Oracle: The Turning Point Of The Business

After having a go at SAP during the last earnings release in March, Oracle is due to announce its quarterly results this week. The company...

Vladimir Dimitrov, CFA

Crowdstrike Analyst Day: Really, Just $3B in ARR?

Crowdstrike Analyst Day was underwhelming with easily reached ARR and Operating Model Targets introduced. We like the stock anyway, especially with...

Aaron Gabin

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