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>Arista Networks reported strong financial results for the third quarter of 2025, achieving a record revenue of $2.31 billion, a year-over-year increase of 27.5%.</li><li>This growth was supported by the increasing demand for their networking solutions, particularly in the AI and cloud segments.</li><li>Notably, Arista's software and services accounted for approximately 18.7% of the quarter's revenue, reflecting the company's strategic emphasis on diversifying its revenue streams beyond hardware.</li></ul>

Arista Networks reported strong financial results for the third quarter of 2025, achieving a record revenue of $2.31 billion, a year-over-year increase of 27.5%.This growth was supported by the increasing demand for their networking solutions, particularly in the AI and cloud segments.Notably, Arista's software and services accounted for approximately 18.7% of the quarter's revenue, reflecting the company's strategic emphasis on diversifying its revenue streams beyond hardware.

Arista Powers Into Full Rack Solutions—Could Its Blue Box JDM Model Crush Traditional OEMs?

<ul><li>Arista Networks presented a robust financial performance in its second quarter of fiscal year 2025, reflecting substantial growth and strong market positioning, albeit with some areas of challenge and scrutiny.</li><li>The company reported a record revenue of $2.2 billion for the quarter, surpassing expectations by $100 million and marking a 30.4% increase year-over-year.</li><li>This impressive performance was driven by robust demand across its product sectors, particularly within the AI, cloud, and enterprise domains.</li></ul>

Arista Networks presented a robust financial performance in its second quarter of fiscal year 2025, reflecting substantial growth and strong market positioning, albeit with some areas of challenge and scrutiny.The company reported a record revenue of $2.2 billion for the quarter, surpassing expectations by $100 million and marking a 30.4% increase year-over-year.This impressive performance was driven by robust demand across its product sectors, particularly within the AI, cloud, and enterprise domains.

Arista Networks Leverages Velo Power—Could SD-WAN Dominate Its Next Growth Wave?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Volatility finally picked up last Friday, and the SPX and Nasdaq 100 (QQQ) both gapped lower to close below their 20-day MAs for the first time in over three months.</li>
<li>With that said, all of the major indexes (SPX, QQQ, DJI, IWM) rallied yesterday to fill their gaps from Friday and SPX and QQQ have reclaimed above their 20-day MAs. </li>
<li>This is a bullish signal that suggests any further pullback is likely to be relatively shallow, and should be treated as a buying opportunity.</li>
</ul>


Volatility finally picked up last Friday, and the SPX and Nasdaq 100 (QQQ) both gapped lower to close below their 20-day MAs for the first time in over three months.
With that said, all of the major indexes (SPX, QQQ, DJI, IWM) rallied yesterday to fill their gaps from Friday and SPX and QQQ have reclaimed above their 20-day MAs. 
This is a bullish signal that suggests any further pullback is likely to be relatively shallow, and should be treated as a buying opportunity.


Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

<ul><li>Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has turned heads on Wall Street.</li><li>After seeing its stock plunge nearly 50% earlier this year due to fears around tariffs and intensified white-box competition, Arista has bounced back with vengeance.</li><li>Now trading near $95, the stock has rallied on the back of a robust Q1 2025 print, confident full-year guidance, and its growing role in powering AI infrastructure for tech giants like Microsoft, Meta, and Oracle.</li></ul>

Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has turned heads on Wall Street.After seeing its stock plunge nearly 50% earlier this year due to fears around tariffs and intensified white-box competition, Arista has bounced back with vengeance.Now trading near $95, the stock has rallied on the back of a robust Q1 2025 print, confident full-year guidance, and its growing role in powering AI infrastructure for tech giants like Microsoft, Meta, and Oracle.

Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!

<ul><li>Arista Networks delivered a robust first-quarter performance for the fiscal year 2025, achieving its first-ever $2 billion revenue quarter, signifying a substantial milestone.</li><li>This was marked by a 27.6% year-over-year growth, driven significantly by strong demand from the cloud titan vertical and an unexpected positive turnout from non cloud sectors.</li><li>The company managed to maintain a high non-GAAP gross margin of 64.1%, surpassing guidance, bolstered by the effective management and absorption of minimal tariffs and an advantageous revenue mix.</li></ul>

Arista Networks delivered a robust first-quarter performance for the fiscal year 2025, achieving its first-ever $2 billion revenue quarter, signifying a substantial milestone.This was marked by a 27.6% year-over-year growth, driven significantly by strong demand from the cloud titan vertical and an unexpected positive turnout from non cloud sectors.The company managed to maintain a high non-GAAP gross margin of 64.1%, surpassing guidance, bolstered by the effective management and absorption of minimal tariffs and an advantageous revenue mix.

Arista Networks: The Top 7 Influences On Its Performance For 2025 & The Future!

United States

Arista Networks Inc. provides cloud networking solutions for data-centers and computer environments. The Company offers ethernet switches, pass-through cards, transceivers, cards, and enhanced operating systems. Arista also provides host adapter solutions and networking services and markets its products globally.

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Arista Networks (ANET US)

Arista Powers Into Full Rack Solutions—Could Its Blue Box JDM Model Crush Traditional OEMs?

Arista Networks reported strong financial results for the third quarter of 2025, achieving a record revenue of $2.31 billion, a year-over-year...

Baptista Research

Arista Networks Leverages Velo Power—Could SD-WAN Dominate Its Next Growth Wave?

Arista Networks presented a robust financial performance in its second quarter of fiscal year 2025, reflecting substantial growth and strong...

Baptista Research

Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

Was That It? $SPX $QQQ $IWM; Downgrading Discretionary $XLY to market weight and Energy $XLE to underweight; Growth vs. Value Breaking Out; Market...

Vermilion Research

Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!

Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has...

Baptista Research

Arista Networks: The Top 7 Influences On Its Performance For 2025 & The Future!

Arista Networks delivered a robust first-quarter performance for the fiscal year 2025, achieving its first-ever $2 billion revenue quarter,...

Baptista Research

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