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>Ziff Davis's financial performance in the second quarter of 2024 reflects a complex mix of challenges and strategic maneuvers as the company navigates through a tepid economic landscape.</li><li>The Q2 results were somewhat disappointing, particularly given the downturn in June revenues, which declined by 3%, contributing to an overall quarterly revenue drop of 1.6% year-over-year.</li><li>This dip contrasts with the previous quarter's growth of 2.4%, indicating an unpredicted volatility in the company's financial performance.</li></ul>

Ziff Davis's financial performance in the second quarter of 2024 reflects a complex mix of challenges and strategic maneuvers as the company navigates through a tepid economic landscape.The Q2 results were somewhat disappointing, particularly given the downturn in June revenues, which declined by 3%, contributing to an overall quarterly revenue drop of 1.6% year-over-year.This dip contrasts with the previous quarter's growth of 2.4%, indicating an unpredicted volatility in the company's financial performance.

Ziff Davis Inc.: Diversification Through Strategic Acquisitions Like CNET! - Major Drivers

<ul><li>Ziff Davis reported its Q1 2024 financial results, showcasing a positive shift in revenue trends and initiating a cautiously optimistic outlook for the fiscal year.</li><li>After experiencing six quarters of muted or declining sales, Ziff Davis observed a revenue increase of 2.4% year-over-year.</li><li>Notably, the company highlighted a significant growth in subscription and licensing revenues, now accounting for over 42% of total revenues, which emphasizes a strategic shift towards more predictable and stable revenue streams.</li></ul>

Ziff Davis reported its Q1 2024 financial results, showcasing a positive shift in revenue trends and initiating a cautiously optimistic outlook for the fiscal year.After experiencing six quarters of muted or declining sales, Ziff Davis observed a revenue increase of 2.4% year-over-year.Notably, the company highlighted a significant growth in subscription and licensing revenues, now accounting for over 42% of total revenues, which emphasizes a strategic shift towards more predictable and stable revenue streams.

Ziff Davis Inc.: How Are They Expanding Their Subscription and Licensing Revenue? - Major Drivers

<ul><li>This is our first report on internet information and services provider, Ziff Davis.</li><li>The company has projected an optimistic growth outlook for 2024 as it reported a solid fourth quarter performance for the fiscal year of 2023.</li><li>The company's CEO, Vivek Shah expressed his confidence over the company's business set up for notable growth in 2024 provided the depreciation 1.4% over the last two years.</li></ul>

This is our first report on internet information and services provider, Ziff Davis.The company has projected an optimistic growth outlook for 2024 as it reported a solid fourth quarter performance for the fiscal year of 2023.The company's CEO, Vivek Shah expressed his confidence over the company's business set up for notable growth in 2024 provided the depreciation 1.4% over the last two years.

Ziff Davis Inc.: Initiation Of Coverage - Huge Potential for Incremental Licensing Revenue Through AI! - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There are 3 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> and <a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> were finally added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> and there is huge size to trade in the stocks.</li>
<li>There will also be big buying in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> following a float increase driven by <a href="https://www.smartkarma.com/entities/berkshire-hathaway-inc-cl-a" target="_blank" data-smartkarma-citation="entities:1044:1" rel="noopener">Berkshire Hathaway Inc Cl A (BRK/A US)</a> selling last quarter.</li>
</ul>


There are 3 changes for the S&amp;P 500 INDEX, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.

Dell Technologies (DELL US) and Palantir Technologies (PLTR US) were finally added to the S&amp;P 500 INDEX (SPX INDEX) and there is huge size to trade in the stocks.
There will also be big buying in Apple (AAPL US) following a float increase driven by Berkshire Hathaway Inc Cl A (BRK/A US) selling last quarter.


S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

<ul>
<li>Sales declines, margin compression, cuts in SG&amp;A and cuts in guidance and estimates feature in our Declining Businesses model. </li>
<li>Declining business shorts tend to be lower beta, have longer time horizons, and tend to produce steadier (although slower) short returns.</li>
<li>Today we are flagging: Ziff Davis, Burlington Stores, Natl Vision, Otis Wwld, Monro</li>
</ul>


Sales declines, margin compression, cuts in SG&amp;A and cuts in guidance and estimates feature in our Declining Businesses model. 
Declining business shorts tend to be lower beta, have longer time horizons, and tend to produce steadier (although slower) short returns.
Today we are flagging: Ziff Davis, Burlington Stores, Natl Vision, Otis Wwld, Monro


Declining Business Short Candidates: Ziff Davis, Burlington Stores, Nat'l Vision, Otis Wwld, Monro

United States

Ziff Davis, Inc. operates as a digital media and Internet company. The Company provides portfolio which includes brands in technology, entertainment, shopping, health, cybersecurity, and martech. Ziff Davis serves customers worldwide.

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Ziff Davis (ZD US)

Ziff Davis Inc.: Diversification Through Strategic Acquisitions Like CNET! - Major Drivers

Ziff Davis's financial performance in the second quarter of 2024 reflects a complex mix of challenges and strategic maneuvers as the company...

Baptista Research

Ziff Davis Inc.: How Are They Expanding Their Subscription and Licensing Revenue? - Major Drivers

Ziff Davis reported its Q1 2024 financial results, showcasing a positive shift in revenue trends and initiating a cautiously optimistic outlook...

Baptista Research

Ziff Davis Inc.: Initiation Of Coverage - Huge Potential for Incremental Licensing Revenue Through AI! - Major Drivers

This is our first report on internet information and services provider, Ziff Davis. The company has projected an optimistic growth outlook for...

Baptista Research

S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

There are 3 changes for the SnP500, 8 for the SnP400 and 15 for the SnP600 Index. Dell and Palantir have finally been added. There is huge size to...

Brian Freitas

Declining Business Short Candidates: Ziff Davis, Burlington Stores, Nat'l Vision, Otis Wwld, Monro

Declining business shorts earn profits by following negative business momentum. Today we are flagging: Ziff Davis, Burlington Stores, Natl Vision,...

Eric Fernandez, CFA

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