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>Meta Platforms, Inc. recently reported its financial performance for the third quarter of 2025.</li><li>The company showcased robust user engagement across its suite of applications, with 3.5 billion people using one or more Meta apps daily.</li><li>Instagram reported an impressive 3 billion monthly active users, marking a significant milestone.</li></ul>

Meta Platforms, Inc. recently reported its financial performance for the third quarter of 2025.The company showcased robust user engagement across its suite of applications, with 3.5 billion people using one or more Meta apps daily.Instagram reported an impressive 3 billion monthly active users, marking a significant milestone.

Meta Defeats the FTC—What Happens Next Will Reshape Tech Forever!

Meta Platforms Q3 Earnings: Why Advertisers Are Calling Advantage+ a Game Changer!

Podcast on In-depth Business Talks, Speedwell Research

The Synopsis

Podcast on In-depth Business Talks

Speedwell Research

Speedwell Research spends hundreds of hours researching public businesses each month and in "The Synopsis" they share their key learnings. Most business podcasts are superficial and assume their listeners are unsophisticated. In contrast, The Synopsis trusts listeners are interested in learning about complex, industry-specific issues, so long as they are explained clearly. We cover businesses from inception to current day, coupling business analysis and an investors lens. Start listening today to become a better analyst and investor.

<ul><li>CoStar's revenue grew 20% year over year, with strong growth in residential segments such as Apartments.com and Homes.com</li><li>Elevated sales and marketing expenses account for 50% of revenue, raising questions about sustainable growth and margin levels</li><li>Management is optimistic about gaining momentum and investing in two-sided marketplace platform for future success, but concerns remain about long-term profitability and valuation metrics.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

CoStar's revenue grew 20% year over year, with strong growth in residential segments such as Apartments.com and Homes.comElevated sales and marketing expenses account for 50% of revenue, raising questions about sustainable growth and margin levelsManagement is optimistic about gaining momentum and investing in two-sided marketplace platform for future success, but concerns remain about long-term profitability and valuation metrics.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Dialogue. Meta, Perimeter Solutions, and CoStar 3Q25 Earnings, Time Spent Competition, 50% Sales ...

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>Good 3Q25: revenue 4% above Consensus, Operating Income 7% above. But a huge US$18bn tax reversal leads to a big GAAP miss. A 10% NON-GAAP beat.</li>
<li>2025 Capex revised up to high end of range, from $66-72 bn to $70-72 billion. 2026 Capex dollar growth will be notably larger than 2025, that means over 100bn.</li>
<li>Stock down -9% after hours, an over-reaction to a one-off non-cash tax write off. Valuations: slightly high as 2026 growth is forecast to be low due to OP margin decline.</li>
</ul>


Good 3Q25: revenue 4% above Consensus, Operating Income 7% above. But a huge US$18bn tax reversal leads to a big GAAP miss. A 10% NON-GAAP beat.
2025 Capex revised up to high end of range, from $66-72 bn to $70-72 billion. 2026 Capex dollar growth will be notably larger than 2025, that means over 100bn.
Stock down -9% after hours, an over-reaction to a one-off non-cash tax write off. Valuations: slightly high as 2026 growth is forecast to be low due to OP margin decline.


Meta: A Good 3Q Spoiled by a Tax Problem. Capex Boom Continues in 2026.

<ul><li>Meta Platforms is staring down a new wave of disruption just as it ramps up its ambitions in AI and immersive content.</li><li>On October 3rd, OpenAI’s newly launched AI-video app, Sora, surged to the No. 1 spot on Apple’s App Store, less than a week after release.</li><li>While Meta was showcasing the scalability of its AI infrastructure, with over 3.4 billion daily app users and expanding monetization tools, Sora quietly detonated a cultural moment.</li></ul>

Meta Platforms is staring down a new wave of disruption just as it ramps up its ambitions in AI and immersive content.On October 3rd, OpenAI’s newly launched AI-video app, Sora, surged to the No. 1 spot on Apple’s App Store, less than a week after release.While Meta was showcasing the scalability of its AI infrastructure, with over 3.4 billion daily app users and expanding monetization tools, Sora quietly detonated a cultural moment.

Meta Blindsided: OpenAI’s Sora Dethrones Instagram Overnight!

United States

Meta Platforms Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. meta Platform is also involved in advertisements, augmented and virtual reality.

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Meta (META US)

Meta Defeats the FTC—What Happens Next Will Reshape Tech Forever!

Meta Platforms, Inc. recently reported its financial performance for the third quarter of 2025. The company showcased robust user engagement...

Baptista Research

Meta Platforms Q3 Earnings: Why Advertisers Are Calling Advantage+ a Game Changer!

Meta Platforms, Inc. recently reported its financial performance for the third quarter of 2025. The company showcased robust user engagement...

Baptista Research

Dialogue. Meta, Perimeter Solutions, and CoStar 3Q25 Earnings, Time Spent Competition, 50% Sales ...

CoStar's strong revenue growth, high customer retention rates, and investments in building a two-sided marketplace raise questions about future...

The Synopsis

Meta: A Good 3Q Spoiled by a Tax Problem. Capex Boom Continues in 2026.

3Q25 saw strong financial performance for the company, with revenue and operating income beating expectations. However, a large tax reversal led...

Nicolas Baratte

Meta Blindsided: OpenAI’s Sora Dethrones Instagram Overnight!

Meta Platforms is staring down a new wave of disruption just as it ramps up its ambitions in AI and immersive content. On October 3rd, OpenAI’s...

Baptista Research

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52-week Range

Market Cap (USDm)

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Meta Defeats the FTC—What Happens Next Will Reshape Tech Forever!

Meta Platforms, Inc. recently reported its financial performance for the third quarter of 2025. The company showcased robust user engagement...

Baptista Research

Meta Platforms Q3 Earnings: Why Advertisers Are Calling Advantage+ a Game Changer!

Meta Platforms, Inc. recently reported its financial performance for the third quarter of 2025. The company showcased robust user engagement...

Baptista Research

Dialogue. Meta, Perimeter Solutions, and CoStar 3Q25 Earnings, Time Spent Competition, 50% Sales ...

CoStar's strong revenue growth, high customer retention rates, and investments in building a two-sided marketplace raise questions about future...

The Synopsis

Meta: A Good 3Q Spoiled by a Tax Problem. Capex Boom Continues in 2026.

​3Q25 saw strong financial performance for the company, with revenue and operating income beating expectations. However, a large tax reversal led...

Nicolas Baratte

Meta Blindsided: OpenAI’s Sora Dethrones Instagram Overnight!

Meta Platforms is staring down a new wave of disruption just as it ramps up its ambitions in AI and immersive content. On October 3rd, OpenAI’s...

Baptista Research

3Q25 saw strong financial performance for the company, with revenue and operating income beating expectations. However, a large tax reversal led...