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>AppFolio Inc.'s third quarter of 2024 financial performance provided a mixed view of the company’s progress and challenges.</li>
<li>On the upside, AppFolio reported a 24% year-over-year increase in revenue, reaching $206 million for the quarter.</li>
<li>This growth was accompanied by an improvement in non-GAAP operating margin, which expanded from 16.1% in the previous year to 28.7%.</li>
</ul>


AppFolio Inc.'s third quarter of 2024 financial performance provided a mixed view of the company’s progress and challenges.
On the upside, AppFolio reported a 24% year-over-year increase in revenue, reaching $206 million for the quarter.
This growth was accompanied by an improvement in non-GAAP operating margin, which expanded from 16.1% in the previous year to 28.7%.


AppFolio Inc.: Strategic Business Acquisitions As A Crucial Growth Lever!

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

<ul><li>Today, I have started a ~3% position in AppFolio (APPF) at $214.2/share.</li><li>Back in February this year, I published my Deep Dive on AppFolio. Since then, the stock has underperformed both S&amp;P 500 and QQQ by more than 20%.</li><li>For the uninitiated, I would encourage you</li></ul>

Today, I have started a ~3% position in AppFolio (APPF) at $214.2/share.Back in February this year, I published my Deep Dive on AppFolio. Since then, the stock has underperformed both S&amp;P 500 and QQQ by more than 20%.For the uninitiated, I would encourage you

<ul>
<li>AppFolio, Inc. reported excellent results for the second quarter of 2024, indicating robust growth and significant developments in both its product offerings and market strategy.</li>
<li>The company recorded a 34% year-over-year increase in revenue, totaling $197 million, with both operating and free cash flow margins showing substantial improvements.</li>
<li>The non-GAAP operating margin rose to 26%, and the free cash flow margin reached 25%.</li>
</ul>


AppFolio, Inc. reported excellent results for the second quarter of 2024, indicating robust growth and significant developments in both its product offerings and market strategy.
The company recorded a 34% year-over-year increase in revenue, totaling $197 million, with both operating and free cash flow margins showing substantial improvements.
The non-GAAP operating margin rose to 26%, and the free cash flow margin reached 25%.


AppFolio Inc.: Enhancing User Integration Through AppFolio Stack Marketplace

<ul>
<li>AppFolio, a property management software provider, showcased strong financial results for Q1 2024.</li>
<li>The company reported a significant 38% year-over-year increase in revenue, which calculated to $187 million for the quarter.</li>
<li>This substantial growth was primarily due to increases in units and customers, along with upgrades and further adoption of value-added services.</li>
</ul>


AppFolio, a property management software provider, showcased strong financial results for Q1 2024.
The company reported a significant 38% year-over-year increase in revenue, which calculated to $187 million for the quarter.
This substantial growth was primarily due to increases in units and customers, along with upgrades and further adoption of value-added services.


AppFolio Inc.: Is Its Revenue Growth Sustainable? - Major Drivers

<ul>
<li>AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion in innovation alongside profitable growth.</li>
<li>In the final quarter, the revenue of the company increased by 39% year over year reaching $172 million.</li>
<li>This steady surge has contributed to an annual increase of 31%, pushing the total to $620 million.</li>
</ul>


AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion in innovation alongside profitable growth.
In the final quarter, the revenue of the company increased by 39% year over year reaching $172 million.
This steady surge has contributed to an annual increase of 31%, pushing the total to $620 million.


AppFolio Inc.: Advancements in Artificial Intelligence (AI) & 3 Key Growth Levers

United States

AppFolio, Inc. provides cloud-based software solutions. The Company offers a cloud-based property management software that allows apartment and residential property managers to market, manage, and grow their business. AppFolio conducts business in the United States.

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AppFolio Inc A (APPF US)

AppFolio Inc.: Strategic Business Acquisitions As A Crucial Growth Lever!

AppFolio Inc.'s third quarter of 2024 financial performance provided a mixed view of the company’s progress and challenges.

Baptista Research

Why I Am Buying AppFolio

Back in February this year, I published my Deep Dive on AppFolio. Since then, the stock has underperformed both S&P 500 and QQQ by more than 20%.

MBI Deep Dives

AppFolio Inc.: Enhancing User Integration Through AppFolio Stack Marketplace

AppFolio, Inc. reported excellent results for the second quarter of 2024, indicating robust growth and significant developments in both its product...

Baptista Research

AppFolio Inc.: Is Its Revenue Growth Sustainable? - Major Drivers

AppFolio, a property management software provider, showcased strong financial results for Q1 2024. The company reported a significant 38%...

Baptista Research

AppFolio Inc.: Advancements in Artificial Intelligence (AI) & 3 Key Growth Levers

AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion...

Baptista Research

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