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

Hims & Hers Health Inc / Equity Bottom-Up

<ul><li>Hims & Hers Health Inc. recently reported a robust performance for the third quarter of 2025, with significant strides in expanding its digital health platform.</li><li>The company's results indicate both promising growth avenues and challenges ahead, which investors should thoroughly consider when evaluating the company’s potential.</li><li>On the positive side, Hims & Hers has demonstrated impressive revenue growth, achieving a 49% year-over-year increase to nearly $600 million.</li></ul>

Hims & Hers Health Inc. recently reported a robust performance for the third quarter of 2025, with significant strides in expanding its digital health platform.The company's results indicate both promising growth avenues and challenges ahead, which investors should thoroughly consider when evaluating the company’s potential.On the positive side, Hims & Hers has demonstrated impressive revenue growth, achieving a 49% year-over-year increase to nearly $600 million.

Hims & Hers' YourBio Health Acquisition: How They Are About To Revolutionize Blood Testing!

<ul><li>Hims & Hers Health recently reported its third-quarter results for 2025, showcasing both potential opportunities and challenges as the company expands its footprint in the healthcare sector.</li><li>The company reported substantial revenue growth of nearly 49% year-over-year, reaching close to $600 million, a reflection of its strategic shift towards personalized healthcare solutions.</li><li>However, despite this impressive growth trajectory, several factors warrant a closer look.</li></ul>

Hims & Hers Health recently reported its third-quarter results for 2025, showcasing both potential opportunities and challenges as the company expands its footprint in the healthcare sector.The company reported substantial revenue growth of nearly 49% year-over-year, reaching close to $600 million, a reflection of its strategic shift towards personalized healthcare solutions.However, despite this impressive growth trajectory, several factors warrant a closer look.

Hims & Hers Health: A Notable Shift Toward Core

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Hims &amp; Hers is a rapidly growing telehealth platform capitalizing on the increasing consumer demand for convenient and discreet access to healthcare, particularly in stigmatized or lifestyle-related categories.</li>
  <li>The company's aggressive direct-to-consumer marketing and subscription-based model have fueled impressive top-line growth and a recent turn to profitability, though it relies heavily on continued marketing spend.</li>
  <li>Strategic initiatives, including international expansion through the acquisition of ZAVA and entry into new high-potential categories like weight management, present significant future growth opportunities but also introduce execution and regulatory risks.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Hims &amp; Hers is a rapidly growing telehealth platform capitalizing on the increasing consumer demand for convenient and discreet access to healthcare, particularly in stigmatized or lifestyle-related categories.
  The company's aggressive direct-to-consumer marketing and subscription-based model have fueled impressive top-line growth and a recent turn to profitability, though it relies heavily on continued marketing spend.
  Strategic initiatives, including international expansion through the acquisition of ZAVA and entry into new high-potential categories like weight management, present significant future growth opportunities but also introduce execution and regulatory risks.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Hims & Hers Health Inc (HIMS US) - Nov 2025

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<div><ul><li>Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow.</li><li>Last month (ending 3/31), the WTR AI Index was down 5.5% M/M versus the S&amp;P 500 Index (down 5.1%), the Russell 2000 Index (down 5.2%), and the Nasdaq Index (down 4.9%).</li><li>All sectors, with the exception of Internet and Data Services, were down M/M; Software, while still down M/M, was not down as much as other sectors. </li></ul></div>

Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow.Last month (ending 3/31), the WTR AI Index was down 5.5% M/M versus the S&amp;P 500 Index (down 5.1%), the Russell 2000 Index (down 5.2%), and the Nasdaq Index (down 4.9%).All sectors, with the exception of Internet and Data Services, were down M/M; Software, while still down M/M, was not down as much as other sectors. 

AI Flow Index : Sailing a Sea of Companies in AI - 2 April 2026

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>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.</li>
<li>Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.
Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL


Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

United States

Hims & Hers Health, Inc. provides health care software solutions. The Company offers multi-specialty telehealth platform that connects consumers to licensed healthcare providers, enabling them to access high-quality medical care for numerous conditions related to mental health, sexual health, dermatology, and primary care. Hims & Hers Health serves customers in the United States.

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Hims & Hers Health Inc (HIMS US)

Hims & Hers' YourBio Health Acquisition: How They Are About To Revolutionize Blood Testing!

Hims & Hers Health Inc. recently reported a robust performance for the third quarter of 2025, with significant strides in expanding its...

Baptista Research

Hims & Hers Health: A Notable Shift Toward Core

Hims & Hers Health recently reported its third-quarter results for 2025, showcasing both potential opportunities and challenges as the company...

Baptista Research

Primer: Hims & Hers Health Inc (HIMS US) - Nov 2025

Hims & Hers is a rapidly growing telehealth platform capitalizing on the increasing consumer demand for convenient and discreet access to...

αSK Primers

AI Flow Index : Sailing a Sea of Companies in AI - 2 April 2026

Last month (ending 3/31), the WTR AI Index was down 5.5% M/M versus the S&P 500 Index (down 5.1%), the Russell 2000 Index (down 5.2%), and the...

Water Tower Research

Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

Downgrading Utilities $XLU to Market Weight; Bullish Outlook Intact; Time for Prior Leadership to Shine? $IGV $PLTR $APP $SOUN $RZLV $SHOP $FROG $U...

Vermilion Research

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