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>Appian's Q4 earnings and full 2023 financial results reflect a steady growth trajectory.</li><li>For Q4, cloud subscription revenue was up by 26% to $81.3 million.</li><li>Subscriptions revenue was up by 24% to $115.8 million.</li></ul>

Appian's Q4 earnings and full 2023 financial results reflect a steady growth trajectory.For Q4, cloud subscription revenue was up by 26% to $81.3 million.Subscriptions revenue was up by 24% to $115.8 million.

Appian Corporation: Growing AI Adoption Is A Major Growth Catalyst? - Key Drivers

<ul><li>Appian Corporation managed to surpass the revenue expectations and the earnings expectations of Wall Street.</li><li>Appian reported a 31% year-over-year increase in cloud subscription revenue in the quarter, reaching $69.7 million.</li><li>Cloud subscription revenue is anticipated to reach $72 million to $74 million in the second quarter of 2023, reflecting a 26% to 30% increase year over year.</li></ul>

Appian Corporation managed to surpass the revenue expectations and the earnings expectations of Wall Street.Appian reported a 31% year-over-year increase in cloud subscription revenue in the quarter, reaching $69.7 million.Cloud subscription revenue is anticipated to reach $72 million to $74 million in the second quarter of 2023, reflecting a 26% to 30% increase year over year.

Appian Corporation: Can The New Partner Program Truly Accelerate Growth? – Key Drivers

Equity Capital Markets

<ul><li>Appian Corp delivered a mixed result in the last quarter with revenues exceeding Wall Street expectations largely driven by the growth in cloud subscription revenue.</li><li>In every category, the revenue growth is healthy and setting records in the quarter.</li><li>While a large part of the tech industry has been retrenching, Appian went ahead and hired 221 employees in the last quarter.</li></ul>

Appian Corp delivered a mixed result in the last quarter with revenues exceeding Wall Street expectations largely driven by the growth in cloud subscription revenue.In every category, the revenue growth is healthy and setting records in the quarter.While a large part of the tech industry has been retrenching, Appian went ahead and hired 221 employees in the last quarter.

Appian Corp: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)

Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

<ul>
<li>Liquidity shorts can be great short candidates.  The key characteristic is that the company may not be viable, economically, given their cash flows and cash requirements. </li>
<li>Liquidity shorts have built-in catalysts, have moderate to higher betas,  and can have strong down moves if a crisis develops.  They can go bankrupt, pushing the stock price near zero.</li>
<li>Today we are flagging Luminar Tech, Asana, Appian, Oak Street Health</li>
</ul>


Liquidity shorts can be great short candidates.  The key characteristic is that the company may not be viable, economically, given their cash flows and cash requirements. 
Liquidity shorts have built-in catalysts, have moderate to higher betas,  and can have strong down moves if a crisis develops.  They can go bankrupt, pushing the stock price near zero.
Today we are flagging Luminar Tech, Asana, Appian, Oak Street Health


Liquidity Risk Short Candidates: Luminar Tech, Asana, Appian, Oak Street Health

<ul><li>This is our first report on Appian Corporation, a technology player that is assisting corporates in building applications and workflows rapidly, with its low-code automation platform.</li><li>The company had a decent quarter on the revenue front with subscription income increasing by more than 30% year over year.</li><li>The company mixes process mining, workflow, and automation in a single low-code suite using Appian's unified platform.</li></ul>

This is our first report on Appian Corporation, a technology player that is assisting corporates in building applications and workflows rapidly, with its low-code automation platform.The company had a decent quarter on the revenue front with subscription income increasing by more than 30% year over year.The company mixes process mining, workflow, and automation in a single low-code suite using Appian's unified platform.

United States

Appian Corporation develops enterprise software solutions. The Company offers business process and cash management software. Appian serves customers worldwide.

Appian Corp (APPN US)

Appian Corporation: Growing AI Adoption Is A Major Growth Catalyst? - Key Drivers

Appian's Q4 earnings and full 2023 financial results reflect a steady growth trajectory. For Q4, cloud subscription revenue was up by 26% to $81.3...

Baptista Research

Appian Corporation: Can The New Partner Program Truly Accelerate Growth? – Key Drivers

Appian Corporation managed to surpass the revenue expectations and the earnings expectations of Wall Street. Appian reported a 31% year-over-year...

Baptista Research

Appian Corp: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)

Appian Corp delivered a mixed result in the last quarter with revenues exceeding Wall Street expectations largely driven by the growth in cloud...

Baptista Research

Liquidity Risk Short Candidates: Luminar Tech, Asana, Appian, Oak Street Health

Liquidity risk short candidates may not be economically viable given cash flows and capital requirements. This week we flag Luminar Tech, Asana,...

Eric Fernandez, CFA

Appian Corporation: Appian-Low Code

This is our first report on Appian Corporation, a technology player that is assisting corporates in building applications and workflows rapidly,...

Baptista Research