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>Datadog's third quarter 2024 financial results indicate continued growth and expansion in their operations, though there are a mix of positive and challenging elements to consider.</li><li>Revenue for the quarter was $690 million, representing a 26% increase year-over-year and surpassing the high end of the company's guidance.</li><li>The company added about 2,400 customers over the past year, reaching a total of approximately 29,200.</li></ul>

Datadog's third quarter 2024 financial results indicate continued growth and expansion in their operations, though there are a mix of positive and challenging elements to consider.Revenue for the quarter was $690 million, representing a 26% increase year-over-year and surpassing the high end of the company's guidance.The company added about 2,400 customers over the past year, reaching a total of approximately 29,200.

Datadog Inc.: Sales Capacity & Strategic Market Penetration Driving Our ‘Outperform’ Rating! - Major Drivers

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Datadog is a modern observability and security tools provider, starting with infrastructure monitoring and expanding to Application Performance Monitor (APM), Log Management, Network Performance Monitoring (NPM), Real User Monitoring (RUM), User Experience (UX), and cloud security on the unified platform.</li><li>Riding on the tide of cloud migration and leveraging its superior full observability capability, Datadog has sustained solid revenue growth and established a strong customer mindset.</li><li>Compared to some of the incumbent industry peers, Datadog’s product is cloud-native and has the fullest technology stack integration, which in our view better suits the modern hybrid multicloud/local environments. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Datadog is a modern observability and security tools provider, starting with infrastructure monitoring and expanding to Application Performance Monitor (APM), Log Management, Network Performance Monitoring (NPM), Real User Monitoring (RUM), User Experience (UX), and cloud security on the unified platform.Riding on the tide of cloud migration and leveraging its superior full observability capability, Datadog has sustained solid revenue growth and established a strong customer mindset.Compared to some of the incumbent industry peers, Datadog’s product is cloud-native and has the fullest technology stack integration, which in our view better suits the modern hybrid multicloud/local environments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Datadog (DDOG US) - Observability Pioneer with Solid Revenue Growth Trajectory

<ul><li>Datadog reported its Q2 2024 financial results which highlighted significant revenue growth and expanded customer base.</li><li>The company generated $645 million in revenue, marking a 27% increase year-over-year, surpassing its previous guidance.</li><li>Datadog ended the quarter with approximately 28,700 customers, growing from about 26,100 in the prior year.</li></ul>

Datadog reported its Q2 2024 financial results which highlighted significant revenue growth and expanded customer base.The company generated $645 million in revenue, marking a 27% increase year-over-year, surpassing its previous guidance.Datadog ended the quarter with approximately 28,700 customers, growing from about 26,100 in the prior year.

Datadog Inc.: Will The Enhanced Data Security Initiatives Pay Off? - Major Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>
<a href="https://www.smartkarma.com/entities/elastic-nv" target="_blank" data-smartkarma-citation="entities:27526:1" rel="noopener">Elastic NV (ESTC US)</a> reported a solid 4QFY23, reflecting a stronger-than-expected non-GAAP operating margin of ~9% and GAAP subscription gross margin of ~79%. </li>
<li>Elastic cloud revenue grew 28% y/y, representing 40% of total revenue. Elastic cloud is scaling well, and margins improved faster-than-anticipated. </li>
<li>We are concerned about slowing H1 FY24 y/y growth in total revenue and failure to achieve the $2B revenue mark in FY25. Price target to $112.</li>
</ul>



Elastic NV (ESTC US) reported a solid 4QFY23, reflecting a stronger-than-expected non-GAAP operating margin of ~9% and GAAP subscription gross margin of ~79%. 
Elastic cloud revenue grew 28% y/y, representing 40% of total revenue. Elastic cloud is scaling well, and margins improved faster-than-anticipated. 
We are concerned about slowing H1 FY24 y/y growth in total revenue and failure to achieve the $2B revenue mark in FY25. Price target to $112.


Focus On Profitability Expansion And Durable Growth: PT Reduced To $112 From $133

<ul><li>Datadog, during its First Quarter 2024 Earnings, has revealed optimistic outcomes for the quarter.</li><li>A 27% year-on-year increase in revenue at $611 million, surpassing the higher end of company expectations, signaled solid financial growth.</li><li>Furthermore, the increase in the customer base to approximately 28,000, up from about 25,500 during the same period last year, brings a positive outlook for the company.</li></ul>

Datadog, during its First Quarter 2024 Earnings, has revealed optimistic outcomes for the quarter.A 27% year-on-year increase in revenue at $611 million, surpassing the higher end of company expectations, signaled solid financial growth.Furthermore, the increase in the customer base to approximately 28,000, up from about 25,500 during the same period last year, brings a positive outlook for the company.

Datadog Inc.: How Is The  Increase in AI Adoption Impacting Their Future Growth Trajectory? - Major Drivers

United States

Datadog, Inc. provides software solutions. The Company offers cloud-based monitoring and analytics platform which integrates and automates infrastructure monitoring, application performance monitoring, and log management for real-time observability of customers. Datadog operates worldwide.

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Datadog (DDOG US)

Datadog Inc.: Sales Capacity & Strategic Market Penetration Driving Our ‘Outperform’ Rating! - Major Drivers

Datadog's third quarter 2024 financial results indicate continued growth and expansion in their operations, though there are a mix of positive and...

Baptista Research

Datadog (DDOG US) - Observability Pioneer with Solid Revenue Growth Trajectory

Riding on the tide of cloud migration and leveraging its superior full observability capability, Datadog has sustained solid revenue growth and...

CMB International

Datadog Inc.: Will The Enhanced Data Security Initiatives Pay Off? - Major Drivers

Datadog reported its Q2 2024 financial results which highlighted significant revenue growth and expanded customer base. The company generated $645...

Baptista Research

Focus On Profitability Expansion And Durable Growth: PT Reduced To $112 From $133

Elastic remains my top pick in the observability and search space, and I see the potential for revenue growth re-acceleration in 2024.

Andrei Zakharov

Datadog Inc.: How Is The Increase in AI Adoption Impacting Their Future Growth Trajectory? - Major Drivers

Datadog, during its First Quarter 2024 Earnings, has revealed optimistic outcomes for the quarter. A 27% year-on-year increase in revenue at $611...

Baptista Research

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