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>Bentley Systems' third-quarter results for 2025 reflect a company aligning its strategic initiatives with the growing demand for digital infrastructure solutions, yet facing certain challenges in its operating environment.</li><li>The company demonstrated steady progress across multiple fronts, showing resilience and adaptability amid evolving market conditions.</li><li>On the positive side, Bentley Systems reported solid performance metrics with a 10.5% year-over-year ARR growth, or 11% excluding China, indicating robust demand for its digital solutions.</li></ul>

Bentley Systems' third-quarter results for 2025 reflect a company aligning its strategic initiatives with the growing demand for digital infrastructure solutions, yet facing certain challenges in its operating environment.The company demonstrated steady progress across multiple fronts, showing resilience and adaptability amid evolving market conditions.On the positive side, Bentley Systems reported solid performance metrics with a 10.5% year-over-year ARR growth, or 11% excluding China, indicating robust demand for its digital solutions.

Bentley Systems Is Riding a New Wave of AI-Driven Engineering Power—How Long Will It Last?

<ul><li>Bentley Systems, Incorporated's Q2 2025 earnings results indicate a generally robust performance, characterized by solid growth metrics, strategic positioning within the infrastructure engineering sector, and the effective execution of business strategies.</li><li>However, there are elements to consider that both positively and negatively affect the investment perspective.</li><li>On the positive side, Bentley Systems reported a healthy 10% increase in total revenues, reaching $364 million, with strong growth observed particularly in subscription revenues, which now constitute 92% of the total revenue mix.</li></ul>

Bentley Systems, Incorporated's Q2 2025 earnings results indicate a generally robust performance, characterized by solid growth metrics, strategic positioning within the infrastructure engineering sector, and the effective execution of business strategies.However, there are elements to consider that both positively and negatively affect the investment perspective.On the positive side, Bentley Systems reported a healthy 10% increase in total revenues, reaching $364 million, with strong growth observed particularly in subscription revenues, which now constitute 92% of the total revenue mix.

Bentley Systems: SMB Market & Product Entry Points As A Pivotal Factor Driving Growth!

<ul><li>Bentley Systems Inc. reported strong first-quarter results for 2025, indicating a promising start to the year.</li><li>The company demonstrated an annual recurring revenue (ARR) growth of 12% year-over-year, which slightly increases to 12.5% when excluding impacts from China.</li><li>This growth is aligned with Bentley's long-term goals of achieving low double-digit ARR growth, reinforcing the robust demand environment for infrastructure software.</li></ul>

Bentley Systems Inc. reported strong first-quarter results for 2025, indicating a promising start to the year.The company demonstrated an annual recurring revenue (ARR) growth of 12% year-over-year, which slightly increases to 12.5% when excluding impacts from China.This growth is aligned with Bentley's long-term goals of achieving low double-digit ARR growth, reinforcing the robust demand environment for infrastructure software.

Bentley Systems: How Strategic Partnerships Can Drive Growth In The Asset Analytics Domain!

<ul><li>Bentley Systems, Inc., a software development company specializing in infrastructure engineering software, recently announced its fourth-quarter 2024 results along with the financial outlook for 2025.</li><li>The highlights from the earnings call indicate both opportunities and challenges for potential investors to consider.</li><li>Starting with the positive aspects, Bentley Systems reported a satisfactory conclusion to 2024, with subscriptions now accounting for 90% of total revenues.</li></ul>

Bentley Systems, Inc., a software development company specializing in infrastructure engineering software, recently announced its fourth-quarter 2024 results along with the financial outlook for 2025.The highlights from the earnings call indicate both opportunities and challenges for potential investors to consider.Starting with the positive aspects, Bentley Systems reported a satisfactory conclusion to 2024, with subscriptions now accounting for 90% of total revenues.

Bentley Systems: E365 & SMB Initiatives As a Significant Contributor To Its Revenue Growth!

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>S&amp;P MidCap 400 additions by transition require market cap, float cap, sector balance, liquidity and earnings as parameters for inclusion.</li>
<li>The highest combined score from the parameters is given to <a href="https://www.smartkarma.com/entities/carvana-co" target="_blank" data-smartkarma-citation="entities:26471:1" rel="noopener">CVNA</a>, <a href="https://www.smartkarma.com/entities/robinhood-markets-inc" target="_blank" data-smartkarma-citation="entities:33532:1" rel="noopener">HOOD</a>, <a href="https://www.smartkarma.com/entities/lpl-financial-holdings-inc" target="_blank" data-smartkarma-citation="entities:16363:1" rel="noopener">LPLA</a> and <a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493:1" rel="noopener">ENTG</a> which makes them acceptable candidates for addition. </li>
<li>
<a href="https://www.smartkarma.com/entities/ensign-group-inc-the" target="_blank" data-smartkarma-citation="entities:9297:1" rel="noopener">Ensign Group (ENSG US)</a> and <a href="https://www.smartkarma.com/entities/mueller-industries-inc" target="_blank" data-smartkarma-citation="entities:18247:1" rel="noopener">Mueller Industries (MLI US)</a> have the highest probability of being added out of the migrations. Market cap of migration candidates is estimated to be insufficient.</li>
</ul>


S&amp;P MidCap 400 additions by transition require market cap, float cap, sector balance, liquidity and earnings as parameters for inclusion.
The highest combined score from the parameters is given to CVNA, HOOD, LPLA and ENTG which makes them acceptable candidates for addition. 

Ensign Group (ENSG US) and Mueller Industries (MLI US) have the highest probability of being added out of the migrations. Market cap of migration candidates is estimated to be insufficient.


S&P MidCap 400 September 2024 Forecasts: Highest Score to the HOOD, CVNA, LPLA, ENTG, ENSG and MLI

United States

Bentley Systems, Incorporated provides software solutions. The Company offers software for bridge analysis, construction, simulation and analysis, modeling, and geotechnical engineering. Bentley Systems serves customers worldwide.

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Bentley Systems (BSY US)

Bentley Systems Is Riding a New Wave of AI-Driven Engineering Power—How Long Will It Last?

Bentley Systems' third-quarter results for 2025 reflect a company aligning its strategic initiatives with the growing demand for digital...

Baptista Research

Bentley Systems: SMB Market & Product Entry Points As A Pivotal Factor Driving Growth!

Bentley Systems, Incorporated's Q2 2025 earnings results indicate a generally robust performance, characterized by solid growth metrics, strategic...

Baptista Research

Bentley Systems: How Strategic Partnerships Can Drive Growth In The Asset Analytics Domain!

Bentley Systems Inc. reported strong first-quarter results for 2025, indicating a promising start to the year. The company demonstrated an annual...

Baptista Research

Bentley Systems: E365 & SMB Initiatives As a Significant Contributor To Its Revenue Growth!

Bentley Systems, Inc., a software development company specializing in infrastructure engineering software, recently announced its fourth-quarter...

Baptista Research

S&P MidCap 400 September 2024 Forecasts: Highest Score to the HOOD, CVNA, LPLA, ENTG, ENSG and MLI

Robinhood (HOOD), Entegris (ENTG) and LPL Financial Holdings (LPLA) are amongst the highest scoring addition candidates based on mcap, fcap,...

Dimitris Ioannidis

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