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>Endava's first quarter fiscal year 2026 performance presented a mixed outlook, highlighting both strategic advancements and operational challenges.</li><li>The company reported a decrease in revenue and profitability, alongside some headwinds that impacted guidance.</li><li>Revenue for the three months ending September 30, 2025, was £178.2 million, a decrease of 8.6% from the prior year.</li></ul>

Endava's first quarter fiscal year 2026 performance presented a mixed outlook, highlighting both strategic advancements and operational challenges.The company reported a decrease in revenue and profitability, alongside some headwinds that impacted guidance.Revenue for the three months ending September 30, 2025, was £178.2 million, a decrease of 8.6% from the prior year.

Endava: What DavaFlow Signals About a Powerful Shift to AI-Driven Delivery!

Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

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

Research Reinvented

<ul>
  <li>Endava is a specialized IT services provider focusing on next-generation technologies like AI, cloud, and digital transformation, primarily serving clients in the payments, financial services, and TMT sectors.</li>
  <li>The company is currently facing significant headwinds, reflected in declining revenue, compressing margins, and a sharp drop in net income over the past year. This is attributed to a volatile macroeconomic environment causing clients to delay discretionary IT spending.</li>
  <li>Despite near-term challenges, Endava is strategically pivoting towards AI-native services, expanding its core modernization capabilities through acquisitions, and boasts a strong client retention rate, positioning it for potential recovery as market conditions improve.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Endava is a specialized IT services provider focusing on next-generation technologies like AI, cloud, and digital transformation, primarily serving clients in the payments, financial services, and TMT sectors.
  The company is currently facing significant headwinds, reflected in declining revenue, compressing margins, and a sharp drop in net income over the past year. This is attributed to a volatile macroeconomic environment causing clients to delay discretionary IT spending.
  Despite near-term challenges, Endava is strategically pivoting towards AI-native services, expanding its core modernization capabilities through acquisitions, and boasts a strong client retention rate, positioning it for potential recovery as market conditions improve.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

<ul><li>Endava's third quarter fiscal year 2025 results reflect a mixed performance impacted by both internal dynamics and external macroeconomic conditions.</li><li>On the positive side, Endava reported GBP 194.8 million in revenue, marking an 11.7% year-over-year increase, demonstrating resilience amidst a challenging environment.</li><li>The company also achieved an adjusted profit before tax of GBP 24.6 million, up significantly from the previous year, translating to a healthy adjusted PBT margin of 12.6% compared to 8.9% previously.</li></ul>

Endava's third quarter fiscal year 2025 results reflect a mixed performance impacted by both internal dynamics and external macroeconomic conditions.On the positive side, Endava reported GBP 194.8 million in revenue, marking an 11.7% year-over-year increase, demonstrating resilience amidst a challenging environment.The company also achieved an adjusted profit before tax of GBP 24.6 million, up significantly from the previous year, translating to a healthy adjusted PBT margin of 12.6% compared to 8.9% previously.

Endava plc: How Its Agile & Nearshore Delivery Model Is A Strategic Differentiator!

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

<ul>
<li>Recent developments have continued to reinforce our bullish outlook on global equities (MSCI ACWI).</li>
<li>There is no reason to fight this bullish trend, and we continue to expect more upside into the early part of 2024.</li>
<li>Upgrading Mexico to Overweight; Technology Remains Global Leadership; Actionable Themes: 44 individual stock buy recommendations within Technology, Services, Consumer Discretionary, Financials, and Materials</li>
</ul>


Recent developments have continued to reinforce our bullish outlook on global equities (MSCI ACWI).
There is no reason to fight this bullish trend, and we continue to expect more upside into the early part of 2024.
Upgrading Mexico to Overweight; Technology Remains Global Leadership; Actionable Themes: 44 individual stock buy recommendations within Technology, Services, Consumer Discretionary, Financials, and Materials


Upgrading Mexico to Overweight; Technology Remains Global Leadership; Overall Bullish Outlook Intact

iShares MSCI Brazil Capped ETF / Technical Analysis

<ul>
<li>In our October 26, 2023 Int'l Compass we discussed our expectations for a bounce in global equities (MSCI ACWI). So far, that has been the low.</li>
<li>Then, in our November 2, 2023 report, we discussed the bullish implications of the false breakdown in MSCI ACWI (local currency), before discussing expectations for a year-end rally on Nov.16</li>
<li>We see a massive opportunity in global gold/silver miners with gold nearing multi-year breakout. Also buy opportunities: Utilities in Europe, UK, and India; Materials, Industrials, Transportation, Real Estate, and Technology</li>
</ul>


In our October 26, 2023 Int'l Compass we discussed our expectations for a bounce in global equities (MSCI ACWI). So far, that has been the low.
Then, in our November 2, 2023 report, we discussed the bullish implications of the false breakdown in MSCI ACWI (local currency), before discussing expectations for a year-end rally on Nov.16
We see a massive opportunity in global gold/silver miners with gold nearing multi-year breakout. Also buy opportunities: Utilities in Europe, UK, and India; Materials, Industrials, Transportation, Real Estate, and Technology


Bullish Outlook Intact; Upgrading Brazil to Overweight; Buying Global Gold/Silver Miners + More Buys

United Kingdom

Endava Plc operates as an information technology service company. The Company offers software engineering, cloud transformation, test automation, technology consulting, and other related services. Endava serves finance, insurance and healthcare, retail and consumer goods, media and technology, and communication industries worldwide.

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Endava PLC (DAVA US)

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