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 the mobile growth platform provider, Digital Turbine.</li><li>Digital Turbine is now in an expansion mode as evident from its recent results as well as its acquisition-oriented strategy.</li><li>However, in recent quarters, the investors of Digital Turbine have turned against various technology-focused assets, and its stock price also lost much value.</li></ul>

This is our first report on the mobile growth platform provider, Digital Turbine.Digital Turbine is now in an expansion mode as evident from its recent results as well as its acquisition-oriented strategy.However, in recent quarters, the investors of Digital Turbine have turned against various technology-focused assets, and its stock price also lost much value.

Digital Turbine Inc.: Initiation of Coverage – Partnerships With Google & AccuWeather

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/one-store-4672b817-5076-408e-bcad-1a3e48b03c2a" target="_blank" data-smartkarma-citation="entities:35800:1" rel="noopener">ONE Store (ONE KS)</a> is looking to raise up to US$228m in its Korean IPO.</li>
<li>One Store delayed its bookbuild by two weeks, with book building slated to run between 9th-10th May 2022. Listing, as well, has been pushed back to end May.</li>
<li>Peers have slightly corrected since our last note and in our view, from a historical perspective, the low end seems justified.</li>
</ul>



ONE Store (ONE KS) is looking to raise up to US$228m in its Korean IPO.
One Store delayed its bookbuild by two weeks, with book building slated to run between 9th-10th May 2022. Listing, as well, has been pushed back to end May.
Peers have slightly corrected since our last note and in our view, from a historical perspective, the low end seems justified.


One Store IPO - Refiling Updates, No Change to Price Tag

<ul>
<li>
<a href="https://www.smartkarma.com/entities/one-store-4672b817-5076-408e-bcad-1a3e48b03c2a" target="_blank" data-smartkarma-citation="entities:35800:1" rel="noopener">ONE Store (ONE KS)</a> is looking to raise up to US$228m in its Korean IPO.</li>
<li>One Store is a mobile app market platform, formed by a cooperation between South Korea’s three telecom carriers, together with Naver Corp, an internet firm in South Korea.</li>
<li>Given the lack of direct comparables, one way to look at valuation would be to compare the firm to its historical asking valuations.</li>
</ul>



ONE Store (ONE KS) is looking to raise up to US$228m in its Korean IPO.
One Store is a mobile app market platform, formed by a cooperation between South Korea’s three telecom carriers, together with Naver Corp, an internet firm in South Korea.
Given the lack of direct comparables, one way to look at valuation would be to compare the firm to its historical asking valuations.


One Store IPO - Outpaced Industry, Bottom-End Seems Justified

US Tech Company Research, MT Capital

MT Capital

US Tech Company Research

I demystify the world's most interesting tech companies, providing in-depth, no-nonsense, un-biased analysis on the most interesting Tech Companies available for investment today. I am a Mechanical Engineer by education, Software Engineer by trade and a self-trained Financial Analyst.

Equity Bottom-Up

<ul><li>Today I will be completing an in-depth analysis on Digital Turbine, Inc.</li><li>Within I will spend some time breaking down the main tailwinds the company aims to benefit from, discuss the company’s place in the Android Ecosystem and go over the nature and significance of their partnerships with OEMs, Carrier Providers and Advertisers.</li><li>In addition, I will break down the company’s technology, as well as how they make money from it and delve into some recent financials and KPIs in order to get a better sense of how the company is performing. The format of this research, as always, can be seen outlined below. </li></ul>

Today I will be completing an in-depth analysis on Digital Turbine, Inc.Within I will spend some time breaking down the main tailwinds the company aims to benefit from, discuss the company’s place in the Android Ecosystem and go over the nature and significance of their partnerships with OEMs, Carrier Providers and Advertisers.In addition, I will break down the company’s technology, as well as how they make money from it and delve into some recent financials and KPIs in order to get a better sense of how the company is performing. The format of this research, as always, can be seen outlined below. 

United States

Digital Turbine, Inc. delivers a mobile services platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development and billing technology that enables the responsible distribution of mobile entertainment.

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Digital Turbine (APPS US)

Digital Turbine Inc.: Initiation of Coverage – Partnerships With Google & AccuWeather

This is our first report on the mobile growth platform provider, Digital Turbine. Digital Turbine is now in an expansion mode as evident from its...

Baptista Research

One Store IPO - Refiling Updates, No Change to Price Tag

ONE Store (ONE KS) is looking to raise up to US$228m in its Korean IPO. One Store delayed its bookbuild by two weeks, with book building slated to...

Clarence Chu

One Store IPO - Outpaced Industry, Bottom-End Seems Justified

ONE Store (ONE KS) is looking to raise up to US$228m in its Korean IPO. Given the lack of direct peers, one way to look at valuation would be to...

Clarence Chu

Digital Turbine ($APPS) - Deep Dive

Today I will be completing an in-depth analysis on Digital Turbine, Inc. Within I will spend some time breaking down the main tailwinds the company...

MT Capital

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