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>Adobe has witnessed a particularly robust demand over Experience Cloud, Document Cloud, and Creative Cloud.</li><li>Adobe is winning in its established business and is viewing significant momentum in innovative categories.</li><li>During the quarter, it hiked prices for particular creative cloud subscriptions which helped the revenue growth.</li></ul>

Adobe has witnessed a particularly robust demand over Experience Cloud, Document Cloud, and Creative Cloud.Adobe is winning in its established business and is viewing significant momentum in innovative categories.During the quarter, it hiked prices for particular creative cloud subscriptions which helped the revenue growth.

Adobe Inc.: Creative Cloud Upside & Other Drivers

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Private Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/forter-inc" target="_blank" data-smartkarma-citation="entities:35955:1" rel="noopener">Forter (1397978D LN)</a> uses machine learning to detect fraud and approve online transactions in real-time.</li>
<li>With the surge in online shopping with COVID-19, the amount of online fraud increased, allowing Forter to experience strong revenue growth.</li>
<li>New product innovations and a number of strong partnerships will continue to drive the company forward.</li>
</ul>



Forter (1397978D LN) uses machine learning to detect fraud and approve online transactions in real-time.
With the surge in online shopping with COVID-19, the amount of online fraud increased, allowing Forter to experience strong revenue growth.
New product innovations and a number of strong partnerships will continue to drive the company forward.


Forter: New Products and Strong Partnerships Driving Growth for Fraud Solutions

Equity Capital Markets

<ul><li>As a result of the rapid adoption of digital technologies, Adobe’s relevance has increased with content and creativity becoming more important than ever.</li><li>While the stock price of the company has taken a beating like most other tech stocks coupled with the slower-than-expected growth of the Creative Cloud, its long-term outlook remains positive.</li><li>Individuals, solopreneurs, and small business owners are increasingly adopting Adobe’s offerings to monetize their passions, products, and services thanks to the rapid rise of the creator economy.</li></ul>

As a result of the rapid adoption of digital technologies, Adobe’s relevance has increased with content and creativity becoming more important than ever.While the stock price of the company has taken a beating like most other tech stocks coupled with the slower-than-expected growth of the Creative Cloud, its long-term outlook remains positive.Individuals, solopreneurs, and small business owners are increasingly adopting Adobe’s offerings to monetize their passions, products, and services thanks to the rapid rise of the creator economy.

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>Adobe's high quality business model does not matter much in a sector where topline growth is the main driver of valuations.</li>
<li>In the meantime, the company's organic growth is showing signs of slowing down which could result in more risk taking by the management.</li>
</ul>


Adobe's high quality business model does not matter much in a sector where topline growth is the main driver of valuations.
In the meantime, the company's organic growth is showing signs of slowing down which could result in more risk taking by the management.


Adobe: Compelling Fundamentals But Stale Returns Ahead

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.

<ul>
<li>Adobe's stock has pulled back 35% since November, a far larger drawdown than megacap software peers on fears of pulled in growth for Creative Cloud.</li>
<li>Weak initial guidance for 2022 was reiterated this past week, implying reacceleration in 2H22.</li>
<li>Price increases should serve as a tailwind in 2H22, providing a good entry point on a quality compounder that is trading at 5 year trough multiples.</li>
</ul>


Adobe's stock has pulled back 35% since November, a far larger drawdown than megacap software peers on fears of pulled in growth for Creative Cloud.
Weak initial guidance for 2022 was reiterated this past week, implying reacceleration in 2H22.
Price increases should serve as a tailwind in 2H22, providing a good entry point on a quality compounder that is trading at 5 year trough multiples.


Adobe: Price Increase Bullish or Bearish?

United States

Adobe Systems Incorporated develops, markets, and supports computer software products and technologies.  The Company's products allow users to express and use information across all print and electronic media.  Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information.

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Adobe Systems (ADBE US)

Adobe Inc.: Creative Cloud Upside & Other Drivers

Adobe has witnessed a particularly robust demand over Experience Cloud, Document Cloud, and Creative Cloud. Adobe is winning in its established...

Baptista Research

Forter: New Products and Strong Partnerships Driving Growth for Fraud Solutions

Forter uses machine learning to detect fraud and approve online transactions in real-time. With surge in online shopping with COVID-19, the amount...

Shifara Samsudeen, FCMA, CGMA

Adobe Inc.: Financial & Price Forecasts

As a result of the rapid adoption of digital technologies, Adobe’s relevance has increased with content and creativity becoming more important...

Baptista Research

Adobe: Compelling Fundamentals But Stale Returns Ahead

Adobe's high quality business model does not matter much in a sector where topline growth is the main driver of valuations. In the meantime, the...

Vladimir Dimitrov, CFA

Adobe: Price Increase Bullish or Bearish?

Adobe is down 2-3x more than large cap software peers. Price increases should serve as a tailwind in 2H22, providing a good entry point on a...

Aaron Gabin

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