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>Enphase Energy reported its financial results for the first quarter of 2025 with revenue amounting to $356.1 million.</li><li>This marked a decline from the previous quarter, largely attributed to typical seasonal patterns and reduced customer demand in the U.S., aggravated by financial challenges faced by a national lease provider.</li><li>Of this revenue, approximately $54 million was attributed to safe harbor agreements.</li></ul>

Enphase Energy reported its financial results for the first quarter of 2025 with revenue amounting to $356.1 million.This marked a decline from the previous quarter, largely attributed to typical seasonal patterns and reduced customer demand in the U.S., aggravated by financial challenges faced by a national lease provider.Of this revenue, approximately $54 million was attributed to safe harbor agreements.

Enphase Energy: Is Its Focus On Increasing Battery Efficiency and Cost Reduction Paying Off?

<ul><li>Enphase Energy's financial performance for the fourth quarter of 2024 provides a comprehensive view of the company's operational strengths and challenges.</li><li>Enphase reported quarterly revenue of $382.7 million and shipped approximately 2 million microinverters and 152 megawatt-hours of batteries.</li><li>These figures reflect strong sales, particularly of microinverters, although battery sales saw a decrease compared to the previous quarter.</li></ul>

Enphase Energy's financial performance for the fourth quarter of 2024 provides a comprehensive view of the company's operational strengths and challenges.Enphase reported quarterly revenue of $382.7 million and shipped approximately 2 million microinverters and 152 megawatt-hours of batteries.These figures reflect strong sales, particularly of microinverters, although battery sales saw a decrease compared to the previous quarter.

Enphase Energy: Advancements in Inverter Technology to Reinforce A Robust Market Position!

<ul><li>Enphase Energy has presented its third quarter results for 2024, showcasing financial and operational highlights that reflect the company's strategic maneuvers and market dynamics.</li><li>During this period, Enphase reported a robust revenue of $380.9 million, underscoring a shipment of approximately 1.7 million microinverters and 172.9 megawatt hours of batteries.</li><li>This has contributed to a free cash flow generation of $161.6 million.</li></ul>

Enphase Energy has presented its third quarter results for 2024, showcasing financial and operational highlights that reflect the company's strategic maneuvers and market dynamics.During this period, Enphase reported a robust revenue of $380.9 million, underscoring a shipment of approximately 1.7 million microinverters and 172.9 megawatt hours of batteries.This has contributed to a free cash flow generation of $161.6 million.

Enphase Energy Inc.: Enhanced Product Offerings & Cost Reductions Can Lead To Margin Expansion! - Major Drivers

<ul><li>Enphase Energy reported solid financial outcomes for the second quarter of 2024, driven by robust demand for its products and effective inventory management.</li><li>The company achieved a revenue of $303.5 million, reflecting shipments of approximately 1.4 million microinverters and 120 megawatt-hours of batteries.</li><li>This performance was supported by an overall end market demand valued at around $396 million for the quarter.</li></ul>

Enphase Energy reported solid financial outcomes for the second quarter of 2024, driven by robust demand for its products and effective inventory management.The company achieved a revenue of $303.5 million, reflecting shipments of approximately 1.4 million microinverters and 120 megawatt-hours of batteries.This performance was supported by an overall end market demand valued at around $396 million for the quarter.

Enphase Energy: Expansion into New Geographical Markets & 5 Pivotal Factors Driving Its Performance In 2024 & 2025! - Financial Forecasts

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>Our bullish outlook (since early-November 2023) remains intact. Few things are more bullish than indexes (SPX, NDX) breaking out to all-time highs following a major correction we had in 2022</li>
<li>Last week (5/21/24) we discussed how it is a very bullish sign that there have been three upside gaps in May on the S&amp;P 500, with all gaps left unfilled.</li>
<li>Important short-term gap supports we are watching on SPX include 5250-5263, 5127-5142, and 5073-5101; so far 5250-5263 support has held. Also downgrading Industrials (XLI) to market weight</li>
</ul>


Our bullish outlook (since early-November 2023) remains intact. Few things are more bullish than indexes (SPX, NDX) breaking out to all-time highs following a major correction we had in 2022
Last week (5/21/24) we discussed how it is a very bullish sign that there have been three upside gaps in May on the S&amp;P 500, with all gaps left unfilled.
Important short-term gap supports we are watching on SPX include 5250-5263, 5127-5142, and 5073-5101; so far 5250-5263 support has held. Also downgrading Industrials (XLI) to market weight


Downgrading Manufacturing (XLI) To Market Weight; Shift to Overweight Growth; 5250-5263 SPX Holding

United States

Enphase Energy Inc. manufactures solar power solutions. The Company offers solutions to increase productivity and reliability of solar modules.

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Enphase Energy (ENPH US)

Enphase Energy: Is Its Focus On Increasing Battery Efficiency and Cost Reduction Paying Off?

Enphase Energy reported its financial results for the first quarter of 2025 with revenue amounting to $356.1 million. This marked a decline from...

Baptista Research

Enphase Energy: Advancements in Inverter Technology to Reinforce A Robust Market Position!

Enphase Energy's financial performance for the fourth quarter of 2024 provides a comprehensive view of the company's operational strengths and...

Baptista Research

Enphase Energy Inc.: Enhanced Product Offerings & Cost Reductions Can Lead To Margin Expansion! - Major Drivers

Enphase Energy has presented its third quarter results for 2024, showcasing financial and operational highlights that reflect the company's...

Baptista Research

Enphase Energy: Expansion into New Geographical Markets & 5 Pivotal Factors Driving Its Performance In 2024 & 2025! - Financial Forecasts

Enphase Energy reported solid financial outcomes for the second quarter of 2024, driven by robust demand for its products and effective inventory...

Baptista Research

Downgrading Manufacturing (XLI) To Market Weight; Shift to Overweight Growth; 5250-5263 SPX Holding

Downgrading Manufacturing $XLI to Market Weight; Shift to Overweight Growth $IWF; Three May $SPX Upside Gaps Unfilled = Bullish; Expect supports at...

Vermilion Research

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