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>Dynatrace managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>Despite a dynamic macroeconomic environment, the company exceeded expectations, delivering impressive results across key operating metrics such as ARR, total revenue, subscription revenue, operating margin, free cash flow, and EPS.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Dynatrace managed to exceed analyst expectations in terms of revenue as well as earnings.Despite a dynamic macroeconomic environment, the company exceeded expectations, delivering impressive results across key operating metrics such as ARR, total revenue, subscription revenue, operating margin, free cash flow, and EPS.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Dynatrace Inc.: These Are The 4 Major Catalysts Driving Its Growth! – Financial Forecasts

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

Equity Capital Markets

<ul><li>In spite of the challenging macro environment in the past quarter, Dynatrace managed to deliver an all-around beat in its last result.</li><li>As a result, manual data troubleshooting and dashboard-based analytics are becoming increasingly difficult due to the explosion in data volume and complexity.</li><li>Dynatrace also keeps improving its pricing and packaging strategies, which may help the company reach its full potential and hasten growth.</li></ul>

In spite of the challenging macro environment in the past quarter, Dynatrace managed to deliver an all-around beat in its last result.As a result, manual data troubleshooting and dashboard-based analytics are becoming increasingly difficult due to the explosion in data volume and complexity.Dynatrace also keeps improving its pricing and packaging strategies, which may help the company reach its full potential and hasten growth.

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.

<ul>
<li>ServiceNow acquired Era Software this week to extend its presence in the observability and log management space.</li>
<li>The deal is most threatening to DT/ESTC (we advocate as longs) and SPLK (short) because of ServiceNow's ability to bundle functionality for larger deals.</li>
<li>That said...the observability space remains one of the hottest in digital transformations, and the deal is on net, more validating than threatening to DT/ESTC.</li>
</ul>


ServiceNow acquired Era Software this week to extend its presence in the observability and log management space.
The deal is most threatening to DT/ESTC (we advocate as longs) and SPLK (short) because of ServiceNow's ability to bundle functionality for larger deals.
That said...the observability space remains one of the hottest in digital transformations, and the deal is on net, more validating than threatening to DT/ESTC.


Observability: ServiceNow Acquisition Threatens Dynatrace and Elastic

<ul><li>This is our first report on Dynatrace, a well-known software intelligence platform for dynamic multi-cloud environments.</li><li>The strength of its enterprise customer base and the resilience of its subscription model is reflected in the Q1 performance.</li><li>This offers a solid base from which the company anticipates continuing to deliver a balanced business of growth, profitability, and cash flow.</li></ul>

This is our first report on Dynatrace, a well-known software intelligence platform for dynamic multi-cloud environments.The strength of its enterprise customer base and the resilience of its subscription model is reflected in the Q1 performance.This offers a solid base from which the company anticipates continuing to deliver a balanced business of growth, profitability, and cash flow.

Dynatrace Inc: Initiation of Coverage – Growth Prospects & Strategy

United States

Dynatrace, Inc. operates as a holding company. The Company, through its subsidiaries, develops software intelligence platform for the enterprise cloud. Dynatrace offers software intelligence platform to allow customers to modernize and automate IT operations, develop and release high quality software faster, and improve user experiences for better business outcomes.

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

Dynatrace (DT US)

Dynatrace Inc.: These Are The 4 Major Catalysts Driving Its Growth! – Financial Forecasts

Dynatrace managed to exceed analyst expectations in terms of revenue as well as earnings. Despite a dynamic macroeconomic environment, the company...

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

Dynatrace Inc.: Major Drivers

In spite of the challenging macro environment in the past quarter, Dynatrace managed to deliver an all-around beat in its last result. As a...

Baptista Research

Observability: ServiceNow Acquisition Threatens Dynatrace and Elastic

The log management observability TAM has shown itself to be largely recession resistant based on the last two quarter's results for DT/DDOG...

Aaron Gabin

Dynatrace Inc: Initiation of Coverage – Growth Prospects & Strategy

This is our first report on Dynatrace, a well-known software intelligence platform for dynamic multi-cloud environments. The strength of its...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)