Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.</li>
<li>We are getting near-term cautious on Technology and semiconductors (XLK, SOXX), as the Nasdaq 100 (QQQ) and XLK display near-term bearish failed breakouts below $745 and $197, respectively.</li>
<li>These breaks are our signal to be neutral/cautious in the near-term, as it suggests a continuation of the 5-month consolidation and potential test of the June/July lows</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.
We are getting near-term cautious on Technology and semiconductors (XLK, SOXX), as the Nasdaq 100 (QQQ) and XLK display near-term bearish failed breakouts below $745 and $197, respectively.
These breaks are our signal to be neutral/cautious in the near-term, as it suggests a continuation of the 5-month consolidation and potential test of the June/July lows


False Breakout on QQQ and XLK?; Monitor Yesterday's Lows for Near-Term Direction

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>DocuSign, Inc. reported its second quarter results for fiscal year 2027, showing continued execution on its strategy centered around its Intelligent Agreement Management (IAM) platform alongside its core e-signature offerings.</li><li>Revenue for the quarter reached $876 million, up 9% year-over-year, supported by 32% operating margins and approximately $300 million in free cash flow.</li><li>The company also repurchased over $300 million in shares, reducing diluted shares outstanding by 8% year-over-year.</li></ul>

DocuSign, Inc. reported its second quarter results for fiscal year 2027, showing continued execution on its strategy centered around its Intelligent Agreement Management (IAM) platform alongside its core e-signature offerings.Revenue for the quarter reached $876 million, up 9% year-over-year, supported by 32% operating margins and approximately $300 million in free cash flow.The company also repurchased over $300 million in shares, reducing diluted shares outstanding by 8% year-over-year.

DocuSign Unlocks A Broader AI Workflow With Gemini, Copilot & Slack!

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/avepoint-inc" target="_blank" data-smartkarma-citation="entities:37131:1" rel="noopener">AvePoint (AVPT US)</a> , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.</li>
<li>As of FY24, AP had over 25,000 customers who rely on its Confidence Platform to prepare, secure, and optimize their critical data across environments.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



AvePoint (AVPT US) , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.
As of FY24, AP had over 25,000 customers who rely on its Confidence Platform to prepare, secure, and optimize their critical data across environments.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


AvePoint SGX Secondary Listing - Strong Growth and Large Client Base but Unclear Metrics

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>
<a href="https://smartkarma.com/entities/docusign-inc">DocuSign </a>is the dominant market leader in the e-signature space, commanding a significant market share and benefiting from strong brand recognition and a large installed base.</li>
  <li>The company is strategically pivoting from a single-product e-signature provider to a comprehensive Intelligent Agreement Management (IAM) platform, leveraging AI to automate the entire contract lifecycle. This is the key to its future growth.</li>
  <li>While facing slowing revenue growth post-pandemic and increasing competition, DocuSign's strong free cash flow generation and profitability provide financial stability to invest in its strategic initiatives and navigate macroeconomic headwinds.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
DocuSign is the dominant market leader in the e-signature space, commanding a significant market share and benefiting from strong brand recognition and a large installed base.
  The company is strategically pivoting from a single-product e-signature provider to a comprehensive Intelligent Agreement Management (IAM) platform, leveraging AI to automate the entire contract lifecycle. This is the key to its future growth.
  While facing slowing revenue growth post-pandemic and increasing competition, DocuSign's strong free cash flow generation and profitability provide financial stability to invest in its strategic initiatives and navigate macroeconomic headwinds.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

<ul><li>DocuSign, Inc. reported its financial results for the first quarter of fiscal year 2027, highlighting continued demand for its AI-native Intelligent Agreement Management (IAM) platform as a key growth driver.</li><li>The company generated revenue of $830 million, representing a 9% year-over-year increase, and noted that IAM accounted for 12.6% of total annual recurring revenue (ARR), up from 10.8% in the previous quarter.</li><li>IAM bookings grew especially strongly in North American enterprise segments, and DocuSign expects IAM to comprise approximately 18% of total ARR by the end of fiscal 2027.</li></ul>

DocuSign, Inc. reported its financial results for the first quarter of fiscal year 2027, highlighting continued demand for its AI-native Intelligent Agreement Management (IAM) platform as a key growth driver.The company generated revenue of $830 million, representing a 9% year-over-year increase, and noted that IAM accounted for 12.6% of total annual recurring revenue (ARR), up from 10.8% in the previous quarter.IAM bookings grew especially strongly in North American enterprise segments, and DocuSign expects IAM to comprise approximately 18% of total ARR by the end of fiscal 2027.

Does DocuSign Have Any Hidden AI Edge? 200 Million Agreements And Enterprise Integrations!

United States

DocuSign, Inc. provides electronic signature solutions. The Company offers platform that enables businesses of all sizes to digitally prepare, sign, act on, and manage agreements. DocuSign serves mortgage, non-profit, government, real estate, insurance, technology, and healthcare industries worldwide.

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DocuSign (DOCU US)

False Breakout on QQQ and XLK?; Monitor Yesterday's Lows for Near-Term Direction

Pre-Market Report: Bearish False Breakouts on $QQQ and $XLK signal it is time to get near-term cautious as the 5-month consolidation continues....

Vermilion Research

DocuSign Unlocks A Broader AI Workflow With Gemini, Copilot & Slack!

DocuSign, Inc. reported its second quarter results for fiscal year 2027, showing continued execution on its strategy centered around its...

Baptista Research

AvePoint SGX Secondary Listing - Strong Growth and Large Client Base but Unclear Metrics

AvePoint (AVPT US) , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.

Sumeet Singh

Primer: DocuSign (DOCU US) - Aug 2026

DocuSign is the dominant market leader in the e-signature space, commanding a significant market share and benefiting from strong brand...

αSK Primers

Does DocuSign Have Any Hidden AI Edge? 200 Million Agreements And Enterprise Integrations!

DocuSign, Inc. reported its financial results for the first quarter of fiscal year 2027, highlighting continued demand for its AI-native...

Baptista Research

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