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

NewMarket Corporation develops, manufactures, and blends fuel and lubricant additives marketed worldwide to refiners and others who sell petroleum products. The Company's products are used in transportation and industrial equipment.

<ul><li>NewMarket Corporation reported a solid performance in the first quarter of 2024, with notable developments in financial results and strategic actions aimed at expanding its business operations.</li><li>The company reported a net income of $108 million or $11.23 per share, reflecting an increase from $98 million or $10.09 per share in the same period the previous year.</li><li>The primary revenue generator, the petroleum additives segment, demonstrated a robust operating profit of $151 million up from $132 million in the first quarter of 2023, though it experienced a slight decline in sales from $700 million in the previous year to $677 million.</li></ul>

NewMarket Corporation reported a solid performance in the first quarter of 2024, with notable developments in financial results and strategic actions aimed at expanding its business operations.The company reported a net income of $108 million or $11.23 per share, reflecting an increase from $98 million or $10.09 per share in the same period the previous year.The primary revenue generator, the petroleum additives segment, demonstrated a robust operating profit of $151 million up from $132 million in the first quarter of 2023, though it experienced a slight decline in sales from $700 million in the previous year to $677 million.

NewMarket Corporation: The AMPAC Acquisition & Strengthening of Petroleum Additives Makes Us Bullish! - Major Drivers

Capri Holdings Limited retails apparel. The Company offers fashion luxury women's and men's accessories, footwear, apparel, watches, jewelry, eyewear, and fragrance products, as well as provides delivery services. Capri Holdings serves customers worldwide.

<ul><li>Capri Holdings Limited recently reported its financial performance for the fourth quarter and full fiscal year of 2023.</li><li>Despite facing numerous challenges, including an uncertain macroeconomic environment and specific difficulties in the Americas, the company managed to achieve high single-digit revenue growth and mid-single digit growth in earnings per share on a 52-week constant currency basis.</li><li>However, these figures fell short of the company's initial expectations.</li></ul>

Capri Holdings Limited recently reported its financial performance for the fourth quarter and full fiscal year of 2023.Despite facing numerous challenges, including an uncertain macroeconomic environment and specific difficulties in the Americas, the company managed to achieve high single-digit revenue growth and mid-single digit growth in earnings per share on a 52-week constant currency basis.However, these figures fell short of the company's initial expectations.

Capri Holdings Limited: Why We Are Bullish Even If The Tapestry Acquisition Does Not Go Through!  - Major Drivers

Affirm Holdings, Inc. is a financial technology company. The Company builds platform for digital and mobile-first commerce. Affirm Holdings offers financial services tool that allows consumers to purchase goods and services. Affirm Holdings serves customers worldwide.

<ul><li>Affirm Holdings Inc. reported a strong fiscal third quarter for 2024, reflecting robust growth and strategic initiatives that seem to be paying off, while also highlighting areas that warrant caution.</li><li>Firstly, the positives emerging from the quarter include notable advancements in volume growth.</li><li>Gross Merchandise Volume (GMV) increased by 36%, which is compelling evidence of the company's capability to attract and retain users despite a competitive landscape.</li></ul>

Affirm Holdings Inc. reported a strong fiscal third quarter for 2024, reflecting robust growth and strategic initiatives that seem to be paying off, while also highlighting areas that warrant caution.Firstly, the positives emerging from the quarter include notable advancements in volume growth.Gross Merchandise Volume (GMV) increased by 36%, which is compelling evidence of the company's capability to attract and retain users despite a competitive landscape.

Affirm Holdings Inc.: Emergent Payment Models

Vanda Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of clinical-stage, small molecule product candidates for central nervous system disorders.

<ul><li>Vanda Pharmaceuticals Inc., in its Q1 2024 results, showcased a mixed performance amidst its transition phase collaborating its existing products along with recent acquisitions.</li><li>The financial results reveal a decline in total revenues by 24% year-over-year to $47.5 million, primarily due to the impact of generic competition on its product HETLIOZ.</li><li>Despite this, there was a slight sequential increase in total revenues from the previous quarter, suggesting some stabilization in their financial outcomes.</li></ul>

Vanda Pharmaceuticals Inc., in its Q1 2024 results, showcased a mixed performance amidst its transition phase collaborating its existing products along with recent acquisitions.The financial results reveal a decline in total revenues by 24% year-over-year to $47.5 million, primarily due to the impact of generic competition on its product HETLIOZ.Despite this, there was a slight sequential increase in total revenues from the previous quarter, suggesting some stabilization in their financial outcomes.

Vanda Pharmaceuticals: Can It Attract Acquisition Interest After Future Pak's Offer Withdrawal? - Major Drivers

Medpace Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides cardiovascular, hematology, oncology, neurology, pediatrics, nephrology, and diagnostic services. Medpace Holdings serves patients worldwide.

<ul><li>Medpace's financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in the clinical contract research organization (CRO) industry.</li><li>The company reported that revenues reached $511 million for the quarter, marking a significant 17.7% increase on a year-over year basis.</li><li>This positive trajectory can be attributed to healthy demand for Medpace’s clinical research services, as demonstrated by the growth in ending backlog which stood at approximately $2.9 billion—an increase of 18.2% compared to the previous year.</li></ul>

Medpace's financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in the clinical contract research organization (CRO) industry.The company reported that revenues reached $511 million for the quarter, marking a significant 17.7% increase on a year-over year basis.This positive trajectory can be attributed to healthy demand for Medpace’s clinical research services, as demonstrated by the growth in ending backlog which stood at approximately $2.9 billion—an increase of 18.2% compared to the previous year.

Medpace Holdings Inc.: Will The Improved Bookings Environment Last? - Major Drivers

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.