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 Capital Markets

<ul><li>This is our first report on Datadog, the renowned SaaS player whose monitoring and analytics solutions have been rapidly adopted in the past year.</li><li>The company’s stock price has had a phenomenal runup on account of its fast-growing customer base which is now over 16,000.</li><li>Its new deep database monitoring solution could be a real game changer for the company as well.</li></ul>

This is our first report on Datadog, the renowned SaaS player whose monitoring and analytics solutions have been rapidly adopted in the past year.The company’s stock price has had a phenomenal runup on account of its fast-growing customer base which is now over 16,000.Its new deep database monitoring solution could be a real game changer for the company as well.

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Bottom-Up

<p>In September, <a href="https://www.smartkarma.com/entities/sumo-logic-inc" target="_blank" data-smartkarma-citation="entities:29265:1" rel="noopener">Sumo Logic Inc (SUMO US)</a>  announced Q2’22 earnings results and the stock plunged more than 10% after results were released. Investors were disappointed by higher-than-expected operating losses, weak gross margins and declining net dollar retention rate. However, management increased guidance for FY’22. Revenue will increase to ~$238M in FY’22, representing a growth rate of 17%. We believe investors overreacted to mixed Q2’22 earnings results and expect Sumo Logic stock to rebound in the area of $19-$20 per share till the end of the year, implying 20%+ upside potential vs. current levels.   </p>

In September, Sumo Logic Inc (SUMO US)  announced Q2’22 earnings results and the stock plunged more than 10% after results were released. Investors were disappointed by higher-than-expected operating losses, weak gross margins and declining net dollar retention rate. However, management increased guidance for FY’22. Revenue will increase to ~$238M in FY’22, representing a growth rate of 17%. We believe investors overreacted to mixed Q2’22 earnings results and expect Sumo Logic stock to rebound in the area of $19-$20 per share till the end of the year, implying 20%+ upside potential vs. current levels.   

Investors Overreacted To Mixed Q2’22 Earnings Results. The Stock Is Set For A Rebound

Private Capital Markets

<p>With $225 million last round financing, Postman became the most valued VC-backed Indian SaaS startup. Mr. Girish Mathrubootham, the co-founder and CEO of Freshworks, also participated in Series D funding round together with new venture capital investors Coatue, Battery Ventures and BOND. We think investors should pay attention to private companies with high revenue growth rates in API Management industry such as Postman and Kong. Both startups are technology unicorns and backed by notable venture capital investors.</p>

With $225 million last round financing, Postman became the most valued VC-backed Indian SaaS startup. Mr. Girish Mathrubootham, the co-founder and CEO of Freshworks, also participated in Series D funding round together with new venture capital investors Coatue, Battery Ventures and BOND. We think investors should pay attention to private companies with high revenue growth rates in API Management industry such as Postman and Kong. Both startups are technology unicorns and backed by notable venture capital investors.

Postman. The Fastest Growing VC-Backed Provider of API Platform

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Palantir Technologies  / Equity Bottom-Up

<p>Palantir’s earnings call was a master class in obfuscation.</p><p><strong>Since 4Q20 earnings on February 16, 2021, five C-Suite executives from Palantir have sold $250MM (!!) in stock, with CEO Alex Karp selling $137MM in just the past 3 months. Luckily for them, Cathie Wood and ARK has bought 20M shares for $480MM! </strong></p><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div>

Palantir’s earnings call was a master class in obfuscation.Since 4Q20 earnings on February 16, 2021, five C-Suite executives from Palantir have sold $250MM (!!) in stock, with CEO Alex Karp selling $137MM in just the past 3 months. Luckily for them, Cathie Wood and ARK has bought 20M shares for $480MM! Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

Palantir 1Q21 Earnings: ARK’s Buying What They’re Selling

<div>
<p>We've looked into many IPOs over the last 20 years, and think Snowflake is one of the better ones we've come across. Its architectural competitive advantages vs. legacy data warehouse providers are simply insurmountable, and while the cloud platforms loom as eventual rivals, we think this management team knows how to carve out a defensible place amongst the cloud titans.</p>
</div>
<div>
<div>
<div class="content-highlight">
<p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p>
</div>
</div>
</div>


We've looked into many IPOs over the last 20 years, and think Snowflake is one of the better ones we've come across. Its architectural competitive advantages vs. legacy data warehouse providers are simply insurmountable, and while the cloud platforms loom as eventual rivals, we think this management team knows how to carve out a defensible place amongst the cloud titans.




Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.




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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Datadog (DDOG US)

Datadog Inc. - Investment Thesis

This is our first report on Datadog, the renowned SaaS player whose monitoring and analytics solutions have been rapidly adopted in the past...

Baptista Research

Investors Overreacted To Mixed Q2’22 Earnings Results. The Stock Is Set For A Rebound

Sumo Logic shares still have 20%+ upside potential under our bear case scenario. However, longer term, we remain bullish on Sumo Logic stock and...

Andrei Zakharov

Postman. The Fastest Growing VC-Backed Provider of API Platform

As API Management market is booming and Postman could raise $225 million in a new funding round, we believe that investors should pay attention to...

Andrei Zakharov

Palantir 1Q21 Earnings: ARK’s Buying What They’re Selling

Since 4Q20 C-Suite executives from Palantir have sold $250MM (!!) in stock, with CEO Alex Karp selling $137MM in just the past 3 months. Luckily...

Aaron Gabin

Snowflake: Making It Rain

We've looked into many IPOs over the last 20 years, and think Our investment philosophy attracts us to investing behind THE major secular trend in...

Aaron Gabin

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)