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>CrowdStrike reported its fiscal third-quarter results for 2025, showcasing several strengths but also facing some challenges.</li><li>The company achieved key milestones in the quarter, with annual recurring revenue (ARR) surpassing $4 billion and total revenue exceeding $1 billion for the first time.</li><li>Subscription revenue alone grew by 31% year-over-year, reflecting the strong demand for its cybersecurity offerings.</li></ul>

CrowdStrike reported its fiscal third-quarter results for 2025, showcasing several strengths but also facing some challenges.The company achieved key milestones in the quarter, with annual recurring revenue (ARR) surpassing $4 billion and total revenue exceeding $1 billion for the first time.Subscription revenue alone grew by 31% year-over-year, reflecting the strong demand for its cybersecurity offerings.

CrowdStrike Holdings: How Are They Executing Expansion Beyond Endpoint Security? - Major Drivers

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,436/1,432 points and the resistance at 1,451/1,455 points (10/25-day EMA).</li><li>In 4Q24, ITEL will benefit from signed contracts worth over Bt390mn and the backlog of approximately Bt1.97bn, with about Bt633mn expected to be recognized in this quarter.</li><li>STGT's fundamentals remain strong as a global player in a growing industry, benefiting primarily from the trade tensions between the US and China.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,436/1,432 points and the resistance at 1,451/1,455 points (10/25-day EMA).In 4Q24, ITEL will benefit from signed contracts worth over Bt390mn and the backlog of approximately Bt1.97bn, with about Bt633mn expected to be recognized in this quarter.STGT's fundamentals remain strong as a global player in a growing industry, benefiting primarily from the trade tensions between the US and China.

US FOMC Minutes & Thai Trade Balance in October

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,436/1,432 points and the resistance at 1,451/1,455 points (10/25-day EMA).</li><li>In the medium term, it remains in a broad sideways range of 1,273-1,716 points.</li><li>A drop below the 1,432-point support would confirm a downtrend towards 1,427/1,406 points, while a breakout above 1,472 points would indicate a trend reversal to test previous resistance levels at 1,488/1,506 points, respectively.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,436/1,432 points and the resistance at 1,451/1,455 points (10/25-day EMA).In the medium term, it remains in a broad sideways range of 1,273-1,716 points.A drop below the 1,432-point support would confirm a downtrend towards 1,427/1,406 points, while a breakout above 1,472 points would indicate a trend reversal to test previous resistance levels at 1,488/1,506 points, respectively.

<ul><li>CrowdStrike, a leader in cybersecurity known for its AI-driven Falcon platform, now finds itself grappling with significant challenges in the wake of a global IT outage that has shaken its foundations.</li><li>While the company has long been recognized for its robust growth, technological innovation, and a solid client base, the recent incident has exposed vulnerabilities that could impact its future trajectory.</li><li>The outage, which disrupted services across critical sectors, has raised questions about the resilience of CrowdStrike's operations and the reliability of its platform.</li></ul>

CrowdStrike, a leader in cybersecurity known for its AI-driven Falcon platform, now finds itself grappling with significant challenges in the wake of a global IT outage that has shaken its foundations.While the company has long been recognized for its robust growth, technological innovation, and a solid client base, the recent incident has exposed vulnerabilities that could impact its future trajectory.The outage, which disrupted services across critical sectors, has raised questions about the resilience of CrowdStrike's operations and the reliability of its platform.

CrowdStrike's Post-Outage Reality: Navigating the Challenges Ahead!

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,372 points (200-day EMA)/1,380 points and the support at 1,360/1,355 points.</li><li>However, a warning sign of a potential correction has emerged as the index has entered the overbought area according to the stochastic.</li><li>Investors are recommended to wait to take profit at the resistance and then buy back when the index retreats.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,372 points (200-day EMA)/1,380 points and the support at 1,360/1,355 points.However, a warning sign of a potential correction has emerged as the index has entered the overbought area according to the stochastic.Investors are recommended to wait to take profit at the resistance and then buy back when the index retreats.

United States

CrowdStrike Holdings, Inc. provides cybersecurity products and services to stop breaches. The Company offers cloud-delivered protection across endpoints, cloud workloads, identity and data, and leading threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management. CrowdStrike serves customers worldwide.

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Crowdstrike Holdings (CRWD US)

CrowdStrike Holdings: How Are They Executing Expansion Beyond Endpoint Security? - Major Drivers

CrowdStrike reported its fiscal third-quarter results for 2025, showcasing several strengths but also facing some challenges. The company achieved...

Baptista Research

US FOMC Minutes & Thai Trade Balance in October

Technically, the SET Index is expected to move sideways, with the support at 1,436/1,432 points and the resistance at 1,451/1,455 points...

Krungthai XSpring

US FOMC Minutes & Thai Trade Balance in October

Technically, the SET Index is expected to move sideways, with the support at 1,436/1,432 points and the resistance at 1,451/1,455 points...

Krungthai XSpring

CrowdStrike's Post-Outage Reality: Navigating the Challenges Ahead!

CrowdStrike, a leader in cybersecurity known for its AI-driven Falcon platform, now finds itself grappling with significant challenges in the wake...

Baptista Research

Earnings of Nvidia

Technically, the SET Index is expected to move sideways up, with the resistance at 1,372 points (200-day EMA)/1,380 points and the support at...

Krungthai XSpring

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