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

Hewlett Packard Enterprise  / Equity Bottom-Up

<ul><li>Hewlett Packard Enterprise Company delivered a positive result and managed an all-around beat last quarter.</li><li>HPE produced significant free cash flow while increasing its revenue, gross margin, as well as earnings per share year over year.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Hewlett Packard Enterprise Company delivered a positive result and managed an all-around beat last quarter.HPE produced significant free cash flow while increasing its revenue, gross margin, as well as earnings per share year over year.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Hewlett Packard Enterprise: Soaring Sales and the Genius Behind Intelligent Edge! - Major Drivers

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>Dell and HP's latest results indicate an improving PC industry environment in 2H23E, though weaker than expected China demand has softened initial expectations.</li>
<li>A key take-away is that a major AI PC upgrade cycle is indeed on the horizon, with additional clarity now provided as to when and how it will unfold.</li>
<li>A 'step-change' AI PC upgrade cycle will make the strength of the current near-term cycle recovery less relevant, and isn't yet priced-in by the market.</li>
</ul>


Dell and HP's latest results indicate an improving PC industry environment in 2H23E, though weaker than expected China demand has softened initial expectations.
A key take-away is that a major AI PC upgrade cycle is indeed on the horizon, with additional clarity now provided as to when and how it will unfold.
A 'step-change' AI PC upgrade cycle will make the strength of the current near-term cycle recovery less relevant, and isn't yet priced-in by the market.


Recent Dell & HP Results Provide Additional Clarity on Coming AI PC Wave

<ul><li>Hewlett Packard Enterprise delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus regarding earnings.</li><li>With the exception of Compute, they saw year-over-year revenue growth across all of their major business segments.</li><li>We give Hewlett Packard Enterprise a 'Hold' rating with a revised target price.</li></ul>

Hewlett Packard Enterprise delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus regarding earnings.With the exception of Compute, they saw year-over-year revenue growth across all of their major business segments.We give Hewlett Packard Enterprise a 'Hold' rating with a revised target price.

Hewlett Packard Enterprise: The Axis Security Acquisition & 3 Other Possible Catalysts For The Company’s Growth – Financial Forecasts

Value Investing

Vladimir Dimitrov, CFA

International Business Machines / Equity Bottom-Up

<ul>
<li>IBM has delivered a positive return of nearly 20% over the past two years, but that has little to do with actual business performance.</li>
<li>In addition to sluggish growth, IBM's declining profitability remains a problem.Issues related to the company's high debt load, low dividend coverage and an addiction to acquisitions have not gone away.</li>
<li>
Being an IBM (NYSE:IBM) shareholder hasn't been easy over the years as the market continues to make new highs, while IBM still trades at levels from 2010.

</li>
</ul>


IBM has delivered a positive return of nearly 20% over the past two years, but that has little to do with actual business performance.
In addition to sluggish growth, IBM's declining profitability remains a problem.Issues related to the company's high debt load, low dividend coverage and an addiction to acquisitions have not gone away.

Being an IBM (NYSE:IBM) shareholder hasn't been easy over the years as the market continues to make new highs, while IBM still trades at levels from 2010.




IBM: Don't Be Fooled By Recent Share Price Performance

Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

<ul>
<li>Hewlett Packard Enterprise's quantitative operating features are a mess, with its EBITDA margin, inventory turnover, and NOPAT all in decline.</li>
<li>Yet, we might witness a slowdown in 2023 as corporate earnings could stagnate.</li>
<li>The stock provides a desirable dividend, but its price return prospects are glum.</li>
</ul>


Hewlett Packard Enterprise's quantitative operating features are a mess, with its EBITDA margin, inventory turnover, and NOPAT all in decline.
Yet, we might witness a slowdown in 2023 as corporate earnings could stagnate.
The stock provides a desirable dividend, but its price return prospects are glum.


Hewlett Packard Enterprise: Very, Very Underwhelming

United States

Hewlett Packard Enterprise Company provides information technology solutions. The Company offers enterprise security, analytics and data management, applications development and testing, data center care, cloud consulting, and business process services. Hewlett Packard Enterprise serves customers worldwide.

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Hewlett Packard Enterprise (HPE US)

Hewlett Packard Enterprise: Soaring Sales and the Genius Behind Intelligent Edge! - Major Drivers

Hewlett Packard Enterprise Company delivered a positive result and managed an all-around beat last quarter. HPE produced significant free cash...

Baptista Research

Recent Dell & HP Results Provide Additional Clarity on Coming AI PC Wave

A 'step-change' AI PC upgrade cycle will make the strength of the current near-term cycle recovery less relevant, and isn't yet priced-in by the...

Vincent Fernando, CFA

Hewlett Packard Enterprise: The Axis Security Acquisition & 3 Other Possible Catalysts For The Company’s Growth – Financial Forecasts

Hewlett Packard Enterprise delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the...

Baptista Research

Hewlett Packard Enterprise: Very, Very Underwhelming

Hewlett Packard Enterprise's quantitative operating features are a mess, with its EBITDA margin, inventory turnover, and NOPAT all in decline.

Pearl Gray Equity and Research

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