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>GoDaddy's fourth-quarter and full-year 2024 results reflect a company performing strongly across various strategic initiatives, translating customer value into shareholder value effectively.</li><li>The company reported an impressive milestone by surpassing $5 billion in annual bookings, driven by a 9% increase.</li><li>This outcome was further supported by a 21% growth in Applications & Commerce (A&C) bookings and an expansion of the normalized EBITDA margin to 31%.</li></ul>

GoDaddy's fourth-quarter and full-year 2024 results reflect a company performing strongly across various strategic initiatives, translating customer value into shareholder value effectively.The company reported an impressive milestone by surpassing $5 billion in annual bookings, driven by a 9% increase.This outcome was further supported by a 21% growth in Applications & Commerce (A&C) bookings and an expansion of the normalized EBITDA margin to 31%.

GoDaddy Inc.: Product Bundling & Pricing Strategy to Secure A Stronger Market Position!

<ul><li>GoDaddy Inc. reported a strong performance in the third quarter of 2024, showcasing effective execution of strategic initiatives focused on enhancing customer experience and profitability.</li><li>The company made substantial progress in its Innovation and Operational Efficiency program, which capitalizes on its extensive data resources, software platforms, and machine learning to refine pricing, product bundles, and customer engagement.</li><li>These efforts resulted in several noteworthy achievements, with free cash flow rising by 29% year-over-year and application and commerce bookings growing 20%, reflecting positive outcomes from ongoing pricing and bundling initiatives.</li></ul>

GoDaddy Inc. reported a strong performance in the third quarter of 2024, showcasing effective execution of strategic initiatives focused on enhancing customer experience and profitability.The company made substantial progress in its Innovation and Operational Efficiency program, which capitalizes on its extensive data resources, software platforms, and machine learning to refine pricing, product bundles, and customer engagement.These efforts resulted in several noteworthy achievements, with free cash flow rising by 29% year-over-year and application and commerce bookings growing 20%, reflecting positive outcomes from ongoing pricing and bundling initiatives.

GoDaddy Inc.: Enhanced Monetization Capabilities Through Platforms Like Airo Upping Their Game! - Major Drivers

<ul><li>GoDaddy's second quarter 2024 financial results showcase a strong performance, reflecting the company's commitment to advancing its digital services platform and boosting user engagement through innovative tools like Airo, its AI-powered experience.</li><li>By focusing on strategic investments, efficiency improvements, and expanding its product offerings, GoDaddy continues to support its profitable growth model, with a clear aim to maximize long-term free cash flow.</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>

GoDaddy's second quarter 2024 financial results showcase a strong performance, reflecting the company's commitment to advancing its digital services platform and boosting user engagement through innovative tools like Airo, its AI-powered experience.By focusing on strategic investments, efficiency improvements, and expanding its product offerings, GoDaddy continues to support its profitable growth model, with a clear aim to maximize long-term free cash flow.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.

GoDaddy Inc.: Is Their Increased Focus on Artificial Intelligence (AI) & Automation Enough To Warrant A Bullish Rating? - Major Drivers

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>On June 24, Crowdstrike Holdings (CRWD US) will officially join the S&amp;P 500, which follows strong financial results and guidance. Investors anticipated this inclusion, driven by improved profitability and operational efficiency.</li>
<li>The volume traded has so far been on average 2x the 3-month daily average prior to the news. The enduring effect will be on liquidity (hedging basket for index exposure).</li>
<li>CrowdStrike's inclusion in the S&amp;P 500 index increases the representation of pure cybersecurity stocks. Median IBES consensus PT is $400 (7.5% upside).</li>
</ul>


On June 24, Crowdstrike Holdings (CRWD US) will officially join the S&amp;P 500, which follows strong financial results and guidance. Investors anticipated this inclusion, driven by improved profitability and operational efficiency.
The volume traded has so far been on average 2x the 3-month daily average prior to the news. The enduring effect will be on liquidity (hedging basket for index exposure).
CrowdStrike's inclusion in the S&amp;P 500 index increases the representation of pure cybersecurity stocks. Median IBES consensus PT is $400 (7.5% upside).


Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 3 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 7 changes for the S&amp;P Midcap400 Index and 13 changes for the S&amp;P SmallCap600 Index at the June rebalance.</li>
<li>There is huge size to trade in <a href="https://www.smartkarma.com/entities/kkr-co-inc" target="_blank" data-smartkarma-citation="entities:27333:1" rel="noopener">KKR &amp; Co (KKR US)</a> and <a href="https://www.smartkarma.com/entities/crowdstrike-holdings-inc" target="_blank" data-smartkarma-citation="entities:28117:1" rel="noopener">Crowdstrike Holdings (CRWD US)</a> and both stocks were up big in the after-hours market.</li>
<li>There has been positioning in some stocks recently but stocks including <a href="https://www.smartkarma.com/entities/kkr-co-inc" target="_blank" data-smartkarma-citation="entities:27333:1" rel="noopener">KKR &amp; Co</a>, <a href="https://www.smartkarma.com/entities/rb-global-inc" target="_blank" data-smartkarma-citation="entities:25475:1" rel="noopener">RB Global</a> and <a href="https://www.smartkarma.com/entities/texas-pacific-land-corp" target="_blank" data-smartkarma-citation="entities:28693:1" rel="noopener">Texas Pacific Land</a> could see further positioning in the next week.</li>
</ul>


There are 3 changes for the S&amp;P 500 INDEX, 7 changes for the S&amp;P Midcap400 Index and 13 changes for the S&amp;P SmallCap600 Index at the June rebalance.
There is huge size to trade in KKR &amp; Co (KKR US) and Crowdstrike Holdings (CRWD US) and both stocks were up big in the after-hours market.
There has been positioning in some stocks recently but stocks including KKR &amp; Co, RB Global and Texas Pacific Land could see further positioning in the next week.


S&P500/400/600 Index Rebalance: Huge Size to Trade in a Few Stocks

United States

GoDaddy, Inc. provides a cloud-based web platform for small businesses, web design professionals and individuals. The Company's platform provides applications that help them connect to their customers, manage their businesses and get found online.

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Godaddy Inc Class A (GDDY US)

GoDaddy Inc.: Product Bundling & Pricing Strategy to Secure A Stronger Market Position!

GoDaddy's fourth-quarter and full-year 2024 results reflect a company performing strongly across various strategic initiatives, translating...

Baptista Research

GoDaddy Inc.: Enhanced Monetization Capabilities Through Platforms Like Airo Upping Their Game! - Major Drivers

GoDaddy Inc. reported a strong performance in the third quarter of 2024, showcasing effective execution of strategic initiatives focused on...

Baptista Research

GoDaddy Inc.: Is Their Increased Focus on Artificial Intelligence (AI) & Automation Enough To Warrant A Bullish Rating? - Major Drivers

GoDaddy's second quarter 2024 financial results showcase a strong performance, reflecting the company's commitment to advancing its digital...

Baptista Research

CrowdStrike Joins S&P 500

On June 24, Crowdstrike Holdings (CRWD US) will officially join the S&P 500, which follows strong financial results and guidance. Investors...

Jesus Rodriguez Aguilar

S&P500/400/600 Index Rebalance: Huge Size to Trade in a Few Stocks

KKR, Crowdstrike and GoDaddy will be added to the SP500 at the close on 21 June. There are a bunch of changes for the SP400/600 indices too. There...

Brian Freitas

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