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>Fiserv reported strong performance in the second quarter of 2025, showcasing both its strengths and addressing areas needing improvement.</li>
<li>The company achieved 8% adjusted and organic revenue growth, along with a significant 16% growth in adjusted earnings per share (EPS).</li>
<li>This solid performance reflects Fiserv's strategic focus on innovation and expansion, both geographically and across product offerings, despite a challenging macroeconomic environment.</li>
</ul>


Fiserv reported strong performance in the second quarter of 2025, showcasing both its strengths and addressing areas needing improvement.
The company achieved 8% adjusted and organic revenue growth, along with a significant 16% growth in adjusted earnings per share (EPS).
This solid performance reflects Fiserv's strategic focus on innovation and expansion, both geographically and across product offerings, despite a challenging macroeconomic environment.


Fiserv.: Clover Business Expansion Initiatives...

<ul><li>Fiserv, Inc. delivered its financial results for the first quarter of 2025, showcasing both strong performance indicators and strategic developments.</li><li>The company reported robust financial metrics with organic revenue growth of 7%, adjusted EPS growth of 14%, and an increase in adjusted operating margin by 200 basis points.</li><li>While these figures indicate effective operational execution, they are buoyed by an active transition phase, as the company underwent a CEO transition and pursued several acquisitions 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>

Fiserv, Inc. delivered its financial results for the first quarter of 2025, showcasing both strong performance indicators and strategic developments.The company reported robust financial metrics with organic revenue growth of 7%, adjusted EPS growth of 14%, and an increase in adjusted operating margin by 200 basis points.While these figures indicate effective operational execution, they are buoyed by an active transition phase, as the company underwent a CEO transition and pursued several acquisitions 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.

Fiserv Inc.: Clover's International Expansion

<ul><li>Fiserv has successfully concluded its fourth quarter of 2024, surpassing the high expectations set at its 2023 investor conference.</li><li>The company reported adjusted earnings per share of $8.80 for the full year, representing an impressive 17% increase.</li><li>This growth was supported by a 7% rise in adjusted revenue and an improvement in adjusted operating margins, which expanded by 170 basis points to 39.4%.</li></ul>

Fiserv has successfully concluded its fourth quarter of 2024, surpassing the high expectations set at its 2023 investor conference.The company reported adjusted earnings per share of $8.80 for the full year, representing an impressive 17% increase.This growth was supported by a 7% rise in adjusted revenue and an improvement in adjusted operating margins, which expanded by 170 basis points to 39.4%.

Fiserv Inc.: The Expansion of Clover, Value-Added Services & Other Major Drivers

<ul><li>Fiserv recently presented its third-quarter earnings for 2024, revealing continued strength and growth across its comprehensive portfolio that blend merchant and financial solutions.</li><li>In the third quarter, the company reported an adjusted earnings per share increase of 17% to $2.30, supported by a 7% growth in adjusted revenue, and an expanded adjusted operating margin which grew by 170 basis points to 40.2%.</li><li>This performance underscores Fiserv's elevated capabilities across both its merchant and financial segments, driven significantly by strategic technological integrations and a focus on providing comprehensive business solutions.</li></ul>

Fiserv recently presented its third-quarter earnings for 2024, revealing continued strength and growth across its comprehensive portfolio that blend merchant and financial solutions.In the third quarter, the company reported an adjusted earnings per share increase of 17% to $2.30, supported by a 7% growth in adjusted revenue, and an expanded adjusted operating margin which grew by 170 basis points to 40.2%.This performance underscores Fiserv's elevated capabilities across both its merchant and financial segments, driven significantly by strategic technological integrations and a focus on providing comprehensive business solutions.

Fiserv Inc.:  Emphasis on Digital Payments & Value-Added Services & Other Major Drivers

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 outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback <em>again</em>.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

United States

Fiserv, Inc. provides fintech solutions. The Company provides a platform that enables businesses to accept payments, track performance, and drive sales. Fiserv serves corporate and public sector, merchants, banks, credit unions, and other financial institutions globally.

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Fiserv (FI US)

Fiserv.: Clover Business Expansion Initiatives...

Fiserv reported strong performance in the second quarter of 2025, showcasing both its strengths and addressing areas needing improvement.

Baptista Research

Fiserv Inc.: Clover's International Expansion

Fiserv, Inc. delivered its financial results for the first quarter of 2025, showcasing both strong performance indicators and strategic...

Baptista Research

Fiserv Inc.: The Expansion of Clover, Value-Added Services & Other Major Drivers

Fiserv has successfully concluded its fourth quarter of 2024, surpassing the high expectations set at its 2023 investor conference. The company...

Baptista Research

Fiserv Inc.: Emphasis on Digital Payments & Value-Added Services & Other Major Drivers

Fiserv recently presented its third-quarter earnings for 2024, revealing continued strength and growth across its comprehensive portfolio that...

Baptista Research

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

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