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>EPAM Systems had a challenging year in 2023 due to geopolitical factors - Russian invasion of Ukraine - which led to disruption and a rebalancing of their delivery platform across Europe, Western and Central Asia, India, and Latin America.</li><li>Despite these external disturbances, EPAM managed to perform creditably, underlining its ability to navigate a volatile demand environment.</li><li>EPAM’s activities in 2023 were largely focused on enhancing delivery quality, optimizing cost effectiveness, and leveraging their technological capabilities to tap into the future opportunities in Gen AI and AI. 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>

EPAM Systems had a challenging year in 2023 due to geopolitical factors - Russian invasion of Ukraine - which led to disruption and a rebalancing of their delivery platform across Europe, Western and Central Asia, India, and Latin America.Despite these external disturbances, EPAM managed to perform creditably, underlining its ability to navigate a volatile demand environment.EPAM’s activities in 2023 were largely focused on enhancing delivery quality, optimizing cost effectiveness, and leveraging their technological capabilities to tap into the future opportunities in Gen AI and AI. 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.

EPAM Systems: Will The Strong Demand Generation From 2023 Continue In 2024 & Beyond? - Major Drivers

<ul><li>EPAM Systems, Inc. delivered an all-around beat in the previous quarter.</li><li>The exit from the Russian market resulted in an approximate 50 basis point negative impact on year-over-year revenue growth.</li><li>Across industry verticals, financial services saw a 3.3% decrease, driven by declines in banking, offset partially by asset management growth.</li></ul>

EPAM Systems, Inc. delivered an all-around beat in the previous quarter.The exit from the Russian market resulted in an approximate 50 basis point negative impact on year-over-year revenue growth.Across industry verticals, financial services saw a 3.3% decrease, driven by declines in banking, offset partially by asset management growth.

EPAM Systems Inc.: Leading Cloud Solutions With Pioneering AWS Partnership! - Major Drivers

<ul><li>EPAM Systems, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, with revenue of $1.17 billion, a 2.1% year-over-year decline on a reported basis and a 2.4% year-over-year decline in constant currency terms.</li><li>Travel and consumer fell on a year-over-year basis, principally because of decreases in retail, which were only slightly offset by strong growth in travel and hospitality.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

EPAM Systems, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, with revenue of $1.17 billion, a 2.1% year-over-year decline on a reported basis and a 2.4% year-over-year decline in constant currency terms.Travel and consumer fell on a year-over-year basis, principally because of decreases in retail, which were only slightly offset by strong growth in travel and hospitality.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

EPAM Systems Inc.: A Tale of Unwavering Focus Amidst Declining Health and Tech Sectors! - Major Drivers

Research on International Stock Ideas, Value Punks

Value Punks

Research on International Stock Ideas

Value Punks’ mission is to deliver institutional-grade research on international stock ideas in a digestible, reader-friendly format.

At Value Punks, we blend our background in traditional value-investing with an openness to embrace a constantly and rapidly evolving investment and business landscape.

Institutional-Grade Research

<ul><li>As most AI heavyweight stocks (e.g. Nvidia, Microsoft) have already soared, some investors may be left feeling that they have missed the AI bandwagon.</li><li>We believe there's a delayed “AI winner” which the market is still sleeping on: EPAM Systems.</li><li>With the stock back at ~$230, the risk-reward here is highly attractive in our view.</li></ul>

As most AI heavyweight stocks (e.g. Nvidia, Microsoft) have already soared, some investors may be left feeling that they have missed the AI bandwagon.We believe there's a delayed “AI winner” which the market is still sleeping on: EPAM Systems.With the stock back at ~$230, the risk-reward here is highly attractive in our view.

<ul><li>Despite facing challenges such as the exit of Russian operations and the reduction in Russian customer revenues, EPAM managed to deliver revenues in line with Wall Street expectations in its recent result as well as an earnings beat.</li><li>It saw growth in various industry verticals, including Travel and Consumer, Financial Services, and Business Information and Media.</li><li>However, Software and Hi-tech experienced no growth, while Life Sciences and Healthcare declined due to the ramp-down of a large transformational program.</li></ul>

Despite facing challenges such as the exit of Russian operations and the reduction in Russian customer revenues, EPAM managed to deliver revenues in line with Wall Street expectations in its recent result as well as an earnings beat.It saw growth in various industry verticals, including Travel and Consumer, Financial Services, and Business Information and Media.However, Software and Hi-tech experienced no growth, while Life Sciences and Healthcare declined due to the ramp-down of a large transformational program.

EPAM Systems: Is The Google Cloud Partnership Exciting Enough For Shareholders? – Key Drivers

United States

EPAM Systems, Inc. provides software development, outsourcing services, e-business, enterprise relationship management, and content management solutions.

Epam Systems (EPAM US)

EPAM Systems: Will The Strong Demand Generation From 2023 Continue In 2024 & Beyond? - Major Drivers

EPAM Systems had a challenging year in 2023 due to geopolitical factors - Russian invasion of Ukraine - which led to disruption and a rebalancing...

Baptista Research

EPAM Systems Inc.: Leading Cloud Solutions With Pioneering AWS Partnership! - Major Drivers

EPAM Systems, Inc. delivered an all-around beat in the previous quarter. The exit from the Russian market resulted in an approximate 50 basis...

Baptista Research

EPAM Systems Inc.: A Tale of Unwavering Focus Amidst Declining Health and Tech Sectors! - Major Drivers

EPAM Systems, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, with revenue of $1.17 billion, a 2.1%...

Baptista Research

Pounding the Table on EPAM

As most AI heavyweight stocks (e.g. Nvidia, Microsoft) have already soared, some investors may be left feeling that they have missed the AI bandwagon.

Value Punks

EPAM Systems: Is The Google Cloud Partnership Exciting Enough For Shareholders? – Key Drivers

Despite facing challenges such as the exit of Russian operations and the reduction in Russian customer revenues, EPAM managed to deliver revenues...

Baptista Research