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>Alphabet Inc. has faced a significant market correction, with its stock declining by 5% over the past week, leading to a $200 billion reduction in its market capitalization.</li><li>This sell-off followed the release of the company's latest financial results, which, despite reporting revenue growth, highlighted structural challenges that have raised concerns among investors.</li><li>The primary issues stem from Alphabet Inc.'s substantial capital expenditure on artificial intelligence, slowing momentum in cloud computing, and increasing competitive pressures from more agile AI players such as OpenAI and DeepSeek.</li></ul>

Alphabet Inc. has faced a significant market correction, with its stock declining by 5% over the past week, leading to a $200 billion reduction in its market capitalization.This sell-off followed the release of the company's latest financial results, which, despite reporting revenue growth, highlighted structural challenges that have raised concerns among investors.The primary issues stem from Alphabet Inc.'s substantial capital expenditure on artificial intelligence, slowing momentum in cloud computing, and increasing competitive pressures from more agile AI players such as OpenAI and DeepSeek.

Alphabet’s AI Spending Nightmare: Will $75 Billion CapEx Be Enough To Come Close To DeepSeek & OpenAI?

<ul><li>Alphabet, the parent company of Google, has long been a pioneer in artificial intelligence, with a history of groundbreaking research and innovative technologies.</li><li>Yet, the company finds itself struggling to close the gap with OpenAI, the leader in generative AI.</li><li>In 2024, Alphabet doubled down on its AI efforts with the rollout of its Gemini chatbot, positioned as a direct competitor to OpenAI’s ChatGPT.</li></ul>

Alphabet, the parent company of Google, has long been a pioneer in artificial intelligence, with a history of groundbreaking research and innovative technologies.Yet, the company finds itself struggling to close the gap with OpenAI, the leader in generative AI.In 2024, Alphabet doubled down on its AI efforts with the rollout of its Gemini chatbot, positioned as a direct competitor to OpenAI’s ChatGPT.

Can Alphabet Come Even Remotely Close To Dethroning OpenAI In 2025?

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>Alphabet (NASDAQ: GOOGL) has been consistently undervalued in the market despite strong revenue and earnings growth</li><li>The company's average forward P/E multiple over the past 15+ years has been just 21.7x, even though it has consistently outperformed the S&amp;P 500</li><li>Currently trading at a discounted valuation of around 17x 2025E EPS, Alphabet has been mispriced for most of its 20-year history</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Alphabet (NASDAQ: GOOGL) has been consistently undervalued in the market despite strong revenue and earnings growthThe company's average forward P/E multiple over the past 15+ years has been just 21.7x, even though it has consistently outperformed the S&amp;P 500Currently trading at a discounted valuation of around 17x 2025E EPS, Alphabet has been mispriced for most of its 20-year historyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Alphabet Inc (GOOGL) - Monday, Sep 16, 2024

<ul><li>Alphabet Inc., the parent company of Google, has long been a dominant force in the tech world, leveraging its search, cloud, and AI capabilities.</li><li>Recent announcements, including the development of its custom quantum computing chip "Willow," the launch of Gemini 2.0 AI models, and its partnership with Samsung for mixed-reality headsets, have spurred investor optimism.</li><li>These developments come against the backdrop of an earnings call highlighting impressive revenue growth and expanding AI applications across search, cloud services, and autonomous driving.</li></ul>

Alphabet Inc., the parent company of Google, has long been a dominant force in the tech world, leveraging its search, cloud, and AI capabilities.Recent announcements, including the development of its custom quantum computing chip "Willow," the launch of Gemini 2.0 AI models, and its partnership with Samsung for mixed-reality headsets, have spurred investor optimism.These developments come against the backdrop of an earnings call highlighting impressive revenue growth and expanding AI applications across search, cloud services, and autonomous driving.

Alphabet’s Big Tech Bets: Quantum, AI, and the Mixed-Reality Fight for Survival!

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/avepoint-inc" target="_blank" data-smartkarma-citation="entities:37131:1" rel="noopener">AvePoint (AVPT US)</a> , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.</li>
<li>As of FY24, AP had over 25,000 customers who rely on its Confidence Platform to prepare, secure, and optimize their critical data across environments.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



AvePoint (AVPT US) , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.
As of FY24, AP had over 25,000 customers who rely on its Confidence Platform to prepare, secure, and optimize their critical data across environments.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


AvePoint SGX Secondary Listing - Strong Growth and Large Client Base but Unclear Metrics

United States

Alphabet Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

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Alphabet (GOOGL US)

Alphabet’s AI Spending Nightmare: Will $75 Billion CapEx Be Enough To Come Close To DeepSeek & OpenAI?

Alphabet Inc. has faced a significant market correction, with its stock declining by 5% over the past week, leading to a $200 billion reduction in...

Baptista Research

Can Alphabet Come Even Remotely Close To Dethroning OpenAI In 2025?

Alphabet, the parent company of Google, has long been a pioneer in artificial intelligence, with a history of groundbreaking research and...

Baptista Research

Alphabet Inc (GOOGL) - Monday, Sep 16, 2024

The company's average forward P/E multiple over the past 15+ years has been just 21.7x, even though it has consistently outperformed the S&P 500

Value Investors Club

Alphabet’s Big Tech Bets: Quantum, AI, and the Mixed-Reality Fight for Survival!

Alphabet Inc., the parent company of Google, has long been a dominant force in the tech world, leveraging its search, cloud, and AI...

Baptista Research

AvePoint SGX Secondary Listing - Strong Growth and Large Client Base but Unclear Metrics

AvePoint (AVPT US) , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.

Sumeet Singh

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