Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Artificial intelligence (AI). AI is already having a major impact on the tech sector, and this is only going to accelerate in 2024.</li><li>With an estimated market size of $137 billion in 2022, AI is projected to grow significantly to $1.8 trillion by 2030, a CAGR of 38%.</li><li>We can expect to see more sophisticated AI applications and algorithms that can perform complex tasks and make decisions with human-like accuracy. </li></ul>

Artificial intelligence (AI). AI is already having a major impact on the tech sector, and this is only going to accelerate in 2024.With an estimated market size of $137 billion in 2022, AI is projected to grow significantly to $1.8 trillion by 2030, a CAGR of 38%.We can expect to see more sophisticated AI applications and algorithms that can perform complex tasks and make decisions with human-like accuracy. 

Top 10 Tech Trends in 2024 - What's Likely to Drive Tech Next Year

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

<ul><li>The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.</li><li>We focus on three industry segments: Software &amp; Services, Technology hardware and Semiconductors and equipment.</li><li>We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance and show relevant ratios.</li></ul>

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.We focus on three industry segments: Software &amp; Services, Technology hardware and Semiconductors and equipment.We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance and show relevant ratios.

Forsyth Barr Technology Digest Edition 4 — Geo-Political Tensions Intensify

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Bottom-Up

<ul>
<li>4Paradigm, a self-developed AI platform and scenario-specific AI applications provider, has completed an IPO and raised net proceeds of ~HK$836M, excluding the over-allotment option. </li>
<li>Founder-Led AI unicorn priced its IPO at the bottom end of the range at <strong>HK$55.60 </strong><strong>per share</strong>. Cornerstone investors agreed to purchase ~13.6M H shares at the IPO price. </li>
<li>I like the company’s leadership position in China’s fastest-growing decision-making AI market, large TAM for their enterprise-grade generative AI offering SageGPT and top-tier VC investors. </li>
</ul>


4Paradigm, a self-developed AI platform and scenario-specific AI applications provider, has completed an IPO and raised net proceeds of ~HK$836M, excluding the over-allotment option. 
Founder-Led AI unicorn priced its IPO at the bottom end of the range at HK$55.60 per share. Cornerstone investors agreed to purchase ~13.6M H shares at the IPO price. 
I like the company’s leadership position in China’s fastest-growing decision-making AI market, large TAM for their enterprise-grade generative AI offering SageGPT and top-tier VC investors. 


4Paradigm: Fears About The Entity List Are Exaggerated, Bullish On AI and SageGPT, PT: HK$86

<ul>
<li>Splunk shares outperformed in 2023 and rose ~69% as total ARR exceeded $4B, operating loss narrowed, and FCF margin improved. The company executed well to drive long-term durable growth.</li>
<li>Over the past 2 years, Splunk transformed itself into a cloud company. In 2022, WSJ reported that Cisco made a $20B+ takeover offer. However, no deal was on the table. </li>
<li>Following M&amp;A rumors, the company’s cloud transition, and strong fundamentals, Cisco offered a $157 per share to acquire Splunk in a $28B mega all-cash deal on September 21, 2023. </li>
</ul>


Splunk shares outperformed in 2023 and rose ~69% as total ARR exceeded $4B, operating loss narrowed, and FCF margin improved. The company executed well to drive long-term durable growth.
Over the past 2 years, Splunk transformed itself into a cloud company. In 2022, WSJ reported that Cisco made a $20B+ takeover offer. However, no deal was on the table. 
Following M&amp;A rumors, the company’s cloud transition, and strong fundamentals, Cisco offered a $157 per share to acquire Splunk in a $28B mega all-cash deal on September 21, 2023. 


Splunk and $28B Mega Deal: Will Cisco Overpay For San Francisco-Based Software Company?

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.

<ul><li>Cisco Systems delivered an all-around beat in the previous quarter, accomplishing the company's financial and operational goals.</li><li>Additionally, Cisco produced solid margins, a significant operational cash flow, and solid shareholder value, returning $10.6 billion through share repurchases and rising cash dividends.</li><li>Cisco Systems generated approximately $57 billion in sales, up 11% from the previous year and the fastest annual revenue growth rate in more than ten years.</li></ul>

Cisco Systems delivered an all-around beat in the previous quarter, accomplishing the company's financial and operational goals.Additionally, Cisco produced solid margins, a significant operational cash flow, and solid shareholder value, returning $10.6 billion through share repurchases and rising cash dividends.Cisco Systems generated approximately $57 billion in sales, up 11% from the previous year and the fastest annual revenue growth rate in more than ten years.

Cisco Systems Inc.: Acquisition Of Oort & Other Major Developments

United States

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The Company provides products for transporting data, voice, and video within buildings, across campuses, and globally.

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Cisco Systems (CSCO US)

Top 10 Tech Trends in 2024 - What's Likely to Drive Tech Next Year

Artificial intelligence (AI). AI is already having a major impact on the tech sector, and this is only going to accelerate in 2024.

Water Tower Research

Forsyth Barr Technology Digest Edition 4 — Geo-Political Tensions Intensify

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and...

Forsyth Barr

4Paradigm: Fears About The Entity List Are Exaggerated, Bullish On AI and SageGPT, PT: HK$86

4Paradigm, a Beijing-based enterprise AI software company, has completed its IPO in Hong Kong. I maintain a bullish view of the stock, and my PT of...

Andrei Zakharov

Splunk and $28B Mega Deal: Will Cisco Overpay For San Francisco-Based Software Company?

Despite a transaction price of $157 per share offered by Cisco to acquire Splunk in a $28B mega deal, investors should take profits now.

Andrei Zakharov

Cisco Systems Inc.: Acquisition Of Oort & Other Major Developments

Cisco Systems delivered an all-around beat in the previous quarter, accomplishing the company's financial and operational goals. Additionally,...

Baptista Research

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