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>Booking reported a strong finish to 2022 as it delivered revenue and adjusted EBITDA above Wall Street expectations.</li><li>Gross Booking increased as compared to the pre-pandemic time.</li><li>Room night growth trends have strengthened in the quarter, with the improvements driven by the U.S. and Asia.</li></ul>

Booking reported a strong finish to 2022 as it delivered revenue and adjusted EBITDA above Wall Street expectations.Gross Booking increased as compared to the pre-pandemic time.Room night growth trends have strengthened in the quarter, with the improvements driven by the U.S. and Asia.

<ul><li>Booking Holdings delivered a positive set of results in the quarter and managed an all-around beat.</li><li>Their consumers reserved 240 million room nights in Q3, just under 0.25 million more than in Q3 2019.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Booking Holdings delivered a positive set of results in the quarter and managed an all-around beat.Their consumers reserved 240 million room nights in Q3, just under 0.25 million more than in Q3 2019.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

<ul><li>For the first time since the Covid-19 pandemic, Booking Holdings managed to exceed the levels for room nights in the last quarter which is a significant milestone in its recovery.</li><li>Nearly 0.25 billion room nights were reserved by the company's clients in Q2, a slight increase from the first quarter's 9% fall and a rise of 16% compared to Q2 2019.</li><li>The near-term macroeconomic climate is unpredictable which is why we maintain our 'Hold' rating on Booking Holdings with a revised target price.</li></ul>

For the first time since the Covid-19 pandemic, Booking Holdings managed to exceed the levels for room nights in the last quarter which is a significant milestone in its recovery.Nearly 0.25 billion room nights were reserved by the company's clients in Q2, a slight increase from the first quarter's 9% fall and a rise of 16% compared to Q2 2019.The near-term macroeconomic climate is unpredictable which is why we maintain our 'Hold' rating on Booking Holdings with a revised target price.

Booking Holdings: Collaboration With Citigroup & Other Drivers

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Thematic (Sector/Industry)

<ul><li>The second quarter earnings season officially kicked off last week with financials getting things started. </li><li>Earnings season will pick up this upcoming week with key reports expected from notable names like Bank of America, Tesla, Netflix, Johnson &amp; Johnson, and Capital One. </li><li>We already know that inflation in the form of rising input costs like energy and labor will eat into profit margins and earnings. </li></ul>

The second quarter earnings season officially kicked off last week with financials getting things started. Earnings season will pick up this upcoming week with key reports expected from notable names like Bank of America, Tesla, Netflix, Johnson &amp; Johnson, and Capital One. We already know that inflation in the form of rising input costs like energy and labor will eat into profit margins and earnings. 

Equity Capital Markets

Booking Holdings / Equity Capital Markets

<ul><li>Booking Holdings commenced 2022 on a positive note.</li><li>The achievement of this gross booking record was aided by continued improvement in their room night trends, increased accommodation ADRs, and significant growth in global flight products.</li><li>While the net increase in the last quarter was still a small number of properties, Booking Holdings plans to continue expanding its alternative accommodation offering and attracting more partners to its platform throughout 2022.</li></ul>

Booking Holdings commenced 2022 on a positive note.The achievement of this gross booking record was aided by continued improvement in their room night trends, increased accommodation ADRs, and significant growth in global flight products.While the net increase in the last quarter was still a small number of properties, Booking Holdings plans to continue expanding its alternative accommodation offering and attracting more partners to its platform throughout 2022.

Booking Holdings Inc.: The Europe Advantage

United States

Booking Holdings Inc. operates as an online travel company. The Company offers a platform that allows to make travel reservations with providers of travel services, as well as provides accommodation reservations, rentals cars, airline tickets, and vacation packages. Booking Holdings serves customers worldwide.

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Booking Holdings (BKNG US)

Booking Holdings Inc.: Major Drivers

Booking reported a strong finish to 2022 as it delivered revenue and adjusted EBITDA above Wall Street expectations. Gross Booking increased as...

Baptista Research

Booking Holdings: Major Drivers

Booking Holdings delivered a positive set of results in the quarter and managed an all-around beat. Their consumers reserved 240 million room...

Baptista Research

Booking Holdings: Collaboration With Citigroup & Other Drivers

For the first time since the Covid-19 pandemic, Booking Holdings managed to exceed the levels for room nights in the last quarter which is a...

Baptista Research

Weekly Stock Bullfinder - Week of 7/18

Earnings season will pick up this upcoming week with key reports expected from notable names like Bank of America, Tesla, Netflix, Johnson &...

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Booking Holdings Inc.: The Europe Advantage

Booking Holdings commenced 2022 on a positive note. The achievement of this gross booking record was aided by continued improvement in their room...

Baptista Research

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