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>After a review of the recent earnings of Monday.com, our investment thesis on the company is cautiously optimistic, with the belief that the enterprise software provider is poised for sustained growth and success in the coming years.</li>
<li>However, these positive assertions need to be balanced with the recent ViacomCBS and CBS-A merger.</li>
<li>Following a hugely successful year, Monday.com, the cloud-based software company, experienced significant growth and progress in 2023 despite prevailing economic and political uncertainties.</li>
</ul>


After a review of the recent earnings of Monday.com, our investment thesis on the company is cautiously optimistic, with the belief that the enterprise software provider is poised for sustained growth and success in the coming years.
However, these positive assertions need to be balanced with the recent ViacomCBS and CBS-A merger.
Following a hugely successful year, Monday.com, the cloud-based software company, experienced significant growth and progress in 2023 despite prevailing economic and political uncertainties.


Monday.com Ltd: Artificial Intelligence Development & 5 Other Catalysts For Future Growth!

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Key points (machine generated)<ul><li>Monday.com's stock price has dropped by over 30% since the summer of 2023, due to concerns about its expensive valuation and contracting growth trajectory.</li><li>However, recent customer calls and channel checks have revealed that the company's competitive positioning is improving, which is a positive development.</li><li>Early results for Microsoft Copilot, which offers automation capabilities for productivity products, indicate strong demand and further enhance Monday.com's attractiveness at its current valuation level. Analysts predict potential returns of over 20% IRR over a 3-year period.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Monday.com's stock price has dropped by over 30% since the summer of 2023, due to concerns about its expensive valuation and contracting growth trajectory.However, recent customer calls and channel checks have revealed that the company's competitive positioning is improving, which is a positive development.Early results for Microsoft Copilot, which offers automation capabilities for productivity products, indicate strong demand and further enhance Monday.com's attractiveness at its current valuation level. Analysts predict potential returns of over 20% IRR over a 3-year period.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Monday Com Ltd (MNDY) - Wednesday, Nov 1, 2023

<ul>
<li>This is our first report on Monday.com, a well-known team management platform for organizations and businesses.</li>
<li>In the third-quarter fiscal year 2023 earnings, Monday.com reported robust growth, considerable margin improvement, and substantial cash generation.</li>
<li>The company shares that they achieved a record non GAAP operating margin of 13% and free cash flow margin of 34%.</li>
</ul>


This is our first report on Monday.com, a well-known team management platform for organizations and businesses.
In the third-quarter fiscal year 2023 earnings, Monday.com reported robust growth, considerable margin improvement, and substantial cash generation.
The company shares that they achieved a record non GAAP operating margin of 13% and free cash flow margin of 34%.


monday.com Ltd.: Initiation of Coverage – Corporate Strategy

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>
<a href="https://www.smartkarma.com/entities/freshworks-inc" target="_blank" data-smartkarma-citation="entities:34147:1" rel="noopener">Freshworks (FRSH US)</a>  upgraded its revenue guidance to ~$502M at the top end for FY22 and reported a 42% year-over-year revenue growth rate in 1QFY22. </li>
<li>We were impressed with subscription revenue growth, lower-than-expected loss, customer expansion, and efficient SaaS metrics. </li>
<li>We analyzed multiples of 50 publicly listed software companies with various growth profiles and split SaaS/Fintech companies into four growth groups.</li>
</ul>



Freshworks (FRSH US)  upgraded its revenue guidance to ~$502M at the top end for FY22 and reported a 42% year-over-year revenue growth rate in 1QFY22. 
We were impressed with subscription revenue growth, lower-than-expected loss, customer expansion, and efficient SaaS metrics. 
We analyzed multiples of 50 publicly listed software companies with various growth profiles and split SaaS/Fintech companies into four growth groups.


Freshworks: Solid 1Q and Strong Outlook Despite Delays With Closing Deals in Europe

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>Global equites (MSCI ACWI) have pulled back some following the FOMC's hawkish-leaning announcement. Short-term support is at $102 on ACWI-US--last week's breakout level-- while longer-term support remains at $98-$99.</li>
<li>A break below $102 would indicate more consolidation is likely but, if ACWI-US remains above $98, we remain bullish on global equities, and we view pullbacks as buying opportunities.</li>
<li>Europe remains bullish, and we remain overweight Japan and India. Actionable Themes: many stocks highlighted within Consumer Discretionary, Energy, Industrials, Services, and Technology</li>
</ul>


Global equites (MSCI ACWI) have pulled back some following the FOMC's hawkish-leaning announcement. Short-term support is at $102 on ACWI-US--last week's breakout level-- while longer-term support remains at $98-$99.
A break below $102 would indicate more consolidation is likely but, if ACWI-US remains above $98, we remain bullish on global equities, and we view pullbacks as buying opportunities.
Europe remains bullish, and we remain overweight Japan and India. Actionable Themes: many stocks highlighted within Consumer Discretionary, Energy, Industrials, Services, and Technology


MSCI ACWI, EURO STOXX 50, TOPIX Remain Bullish; Buys in Cons Disc, Industrials, Services, Technology

United States

monday.com Ltd provides software solutions. The Company offers cloud-based platform that allows users to centralize all work, processes, tools, and files into one work OS, and to connect teams, bridge silos, and maintain one source. monday.com serves customers worldwide.

Monday.com (MNDY US)

Monday.com Ltd: Artificial Intelligence Development & 5 Other Catalysts For Future Growth!

After a review of the recent earnings of Monday.com, our investment thesis on the company is cautiously optimistic, with the belief that the...

Baptista Research

Monday Com Ltd (MNDY) - Wednesday, Nov 1, 2023

Monday.com's stock price has dropped by over 30% since the summer of 2023, due to concerns about its expensive valuation and contracting growth...

Value Investors Club

monday.com Ltd.: Initiation of Coverage – Corporate Strategy

This is our first report on Monday.com, a well-known team management platform for organizations and businesses. In the third-quarter fiscal year...

Baptista Research

Freshworks: Solid 1Q and Strong Outlook Despite Delays With Closing Deals in Europe

Freshworks reported solid 1QFY22 earnings results and raised outlook for FY22. We believe the company may sustain 30%+ subscription revenue growth...

Andrei Zakharov

MSCI ACWI, EURO STOXX 50, TOPIX Remain Bullish; Buys in Cons Disc, Industrials, Services, Technology

MSCI ACWI, EURO $STOXX 50, $TOPIX Remain Bullish. $ACWI holding above short-term support at $102 (last week's breakout level), though we remain...

Vermilion Research