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>HubSpot, a leading software company, provided a generally positive update on the firm's financial performance, strategic direction, and plans for future growth.</li><li>On the financial front, the firm reported solid results for Q4 2023.</li><li>Revenue grew by 21% year-on-year in constant currency terms, and by 25% for the full year 2023.</li></ul>

HubSpot, a leading software company, provided a generally positive update on the firm's financial performance, strategic direction, and plans for future growth.On the financial front, the firm reported solid results for Q4 2023.Revenue grew by 21% year-on-year in constant currency terms, and by 25% for the full year 2023.

HubSpot Inc: Are They Successfully Implementing AI In Their Operations? - Major Drivers

<ul><li>HubSpot, Inc. exceeded Wall Street's revenue and earnings expectations, witnessing a 24% year-over-year revenue growth in constant currency.</li><li>Strong net customer additions were observed in the lower segment through free sign-ups and growth optimization in the starter addition.</li><li>HubSpot's commitment to AI was further highlighted with the launch of HubSpot AI, embedding it across all hubs.</li></ul>

HubSpot, Inc. exceeded Wall Street's revenue and earnings expectations, witnessing a 24% year-over-year revenue growth in constant currency.Strong net customer additions were observed in the lower segment through free sign-ups and growth optimization in the starter addition.HubSpot's commitment to AI was further highlighted with the launch of HubSpot AI, embedding it across all hubs.

HubSpot Inc.: Can The Clearbit Acquisition Help Further Their B2b Market Intelligence Game? - Major Drivers

<ul><li>HubSpot delivered a solid result and managed an all-around beat in the last quarter, with a significant YoY increase in revenue, highlighting the company's strategic balance between growth and profitability.</li><li>The company's customer base grew impressively, driven by new customer additions and product optimization.</li><li>The company's investment in generative AI, including ChatSpot and Content Assistant, drives customer value by streamlining various tasks and providing valuable insights.</li></ul>

HubSpot delivered a solid result and managed an all-around beat in the last quarter, with a significant YoY increase in revenue, highlighting the company's strategic balance between growth and profitability.The company's customer base grew impressively, driven by new customer additions and product optimization.The company's investment in generative AI, including ChatSpot and Content Assistant, drives customer value by streamlining various tasks and providing valuable insights.

HubSpot Inc.: New AI Tools Like ChatSpot Could Help Redefine Success! - Major Drivers

<ul><li>HubSpot had a strong first quarter as it continued to execute its bimodal strategy, with net customer additions increasing significantly at the lower end of the market resulting in an all-around beat.</li><li>The connected platform of HubSpot continued to gain momentum, especially Sales Hub, which saw Liquidity Services reduce costs by 50% after adopting it.</li><li>HubSpot's bimodal strategy, which focuses on driving volume at the low market while increasing value upmarket, has proven successful, as demonstrated by the company's strong customer growth in both segments.</li></ul>

HubSpot had a strong first quarter as it continued to execute its bimodal strategy, with net customer additions increasing significantly at the lower end of the market resulting in an all-around beat.The connected platform of HubSpot continued to gain momentum, especially Sales Hub, which saw Liquidity Services reduce costs by 50% after adopting it.HubSpot's bimodal strategy, which focuses on driving volume at the low market while increasing value upmarket, has proven successful, as demonstrated by the company's strong customer growth in both segments.

HubSpot Inc.: Introduction of New AI-Powered Tools & Other Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Klaviyo, a Shopify-powered marketing automation platform provider for SMBs, mid-market, and B2B companies, filed to go public and plans to list on the New York Stock Exchange.</li>
<li>The fast-growing company was backed by Summit Partners, Shopify, and top-tier VC firms, including Accomplice, Accel, Sands Capital Ventures, Astral Capital, Cross Creek, and W Ventures.</li>
<li>Klaviyo is expected to IPO next week. S-1/A put the price range at $25-$27, implying a market cap of $6.5B at the midpoint, or $8.4B on a fully diluted basis. </li>
</ul>


Klaviyo, a Shopify-powered marketing automation platform provider for SMBs, mid-market, and B2B companies, filed to go public and plans to list on the New York Stock Exchange.
The fast-growing company was backed by Summit Partners, Shopify, and top-tier VC firms, including Accomplice, Accel, Sands Capital Ventures, Astral Capital, Cross Creek, and W Ventures.
Klaviyo is expected to IPO next week. S-1/A put the price range at $25-$27, implying a market cap of $6.5B at the midpoint, or $8.4B on a fully diluted basis. 


Klaviyo IPO Preview and Valuation Analysis: A Fast-Growing Marketing Automation Unicorn

United States

HubSpot, Inc. provides a cloud-based marketing and sales software platform. The Company offers integrated applications that helps in lead generation and social marketing.

Hubspot Inc (HUBS US)

HubSpot Inc: Are They Successfully Implementing AI In Their Operations? - Major Drivers

HubSpot, a leading software company, provided a generally positive update on the firm's financial performance, strategic direction, and plans for...

Baptista Research

HubSpot Inc.: Can The Clearbit Acquisition Help Further Their B2b Market Intelligence Game? - Major Drivers

HubSpot, Inc. exceeded Wall Street's revenue and earnings expectations, witnessing a 24% year-over-year revenue growth in constant...

Baptista Research

HubSpot Inc.: New AI Tools Like ChatSpot Could Help Redefine Success! - Major Drivers

HubSpot delivered a solid result and managed an all-around beat in the last quarter, with a significant YoY increase in revenue, highlighting the...

Baptista Research

HubSpot Inc.: Introduction of New AI-Powered Tools & Other Drivers

HubSpot had a strong first quarter as it continued to execute its bimodal strategy, with net customer additions increasing significantly at the...

Baptista Research

Klaviyo IPO Preview and Valuation Analysis: A Fast-Growing Marketing Automation Unicorn

Klaviyo, a fast-growing marketing automation unicorn, filed to go public and may raise ~$286M. IPO valuation looks attractive, and I see 30%+...

Andrei Zakharov