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>MongoDB reported fourth quarter fiscal 2026 revenue of $695 million, representing 27% year-over-year growth and exceeding the upper end of management’s guidance.</li><li>Growth was primarily driven by continued expansion of the Atlas cloud database platform, which grew 29% year-over-year and accounted for 72% of total revenue.</li><li>Atlas surpassed a $2 billion annualized revenue run rate during the quarter and delivered $114 million in net new revenue.</li></ul>

MongoDB reported fourth quarter fiscal 2026 revenue of $695 million, representing 27% year-over-year growth and exceeding the upper end of management’s guidance.Growth was primarily driven by continued expansion of the Atlas cloud database platform, which grew 29% year-over-year and accounted for 72% of total revenue.Atlas surpassed a $2 billion annualized revenue run rate during the quarter and delivered $114 million in net new revenue.

MongoDB: How Atlas, Enterprise Contracts, and AI Applications Are Driving Platform Expansion!

<ul><li>MongoDB’s recent stock plunge has reignited debate about how investors are valuing software companies in the era of artificial intelligence.</li><li>Shares of the database company fell sharply after management issued first-quarter guidance below Wall Street expectations, despite delivering strong fourth-quarter financial results and maintaining healthy growth across its core business.</li><li>The reaction highlights a growing pattern in the market: companies that cannot yet demonstrate immediate revenue from artificial intelligence initiatives are increasingly punished by investors.</li></ul>

MongoDB’s recent stock plunge has reignited debate about how investors are valuing software companies in the era of artificial intelligence.Shares of the database company fell sharply after management issued first-quarter guidance below Wall Street expectations, despite delivering strong fourth-quarter financial results and maintaining healthy growth across its core business.The reaction highlights a growing pattern in the market: companies that cannot yet demonstrate immediate revenue from artificial intelligence initiatives are increasingly punished by investors.

MongoDB’s Selloff Sends A Warning To The Entire Software Industry!

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mongodb-inc" target="_blank" data-smartkarma-citation="entities:26655:1" rel="noopener">MongoDB (MDB US)</a> is forecasted to be deleted from Nasdaq100 on 16 May due to an index weighting of lower than 0.1% on the last day of March and April.</li>
<li>
<a href="https://www.smartkarma.com/entities/shopify-inc-de74469e-4678-489b-9b50-a80a5790c5ef" target="_blank" data-smartkarma-citation="entities:25906:1" rel="noopener">Shopify (SHOP US)</a> is the forecasted replacement. The company became eligible following its listing transfer from NYSE to Nasdaq on 31 March.</li>
<li>
<a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a> and <a href="https://www.smartkarma.com/entities/ebay-inc" target="_blank" data-smartkarma-citation="entities:1291:1" rel="noopener">eBay Inc (EBAY US)</a> are the main addition candidates for the acquisition of <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a> by mid-2025 and the December 2025 review.</li>
</ul>



MongoDB (MDB US) is forecasted to be deleted from Nasdaq100 on 16 May due to an index weighting of lower than 0.1% on the last day of March and April.

Shopify (SHOP US) is the forecasted replacement. The company became eligible following its listing transfer from NYSE to Nasdaq on 31 March.

Alnylam Pharmaceuticals (ALNY US) and eBay Inc (EBAY US) are the main addition candidates for the acquisition of Ansys Inc (ANSS US) by mid-2025 and the December 2025 review.


MongoDB (MDB US): Fast-Exit from Nasdaq100 in May 2025

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.</li>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.</li>
<li>
<a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a> is <em>not </em>an expected deletion due to special ADR market cap treatment. <a href="https://www.smartkarma.com/entities/equinix-inc" target="_blank" data-smartkarma-citation="entities:17409:1" rel="noopener">Equinix Inc (EQIX US)</a> is <em>not </em>an expected addition because it is a REIT.</li>
</ul>



Palantir Technologies (PLTR US) is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.

Super Micro Computer (SMCI US) is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.

ARM Holdings (ARM US) is not an expected deletion due to special ADR market cap treatment. Equinix Inc (EQIX US) is not an expected addition because it is a REIT.


Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

<ul><li>MongoDB reported strong financial performance for the third quarter of fiscal year 2026.</li><li>The company achieved total revenue of $628.3 million, reflecting a 19% year-over-year growth, surpassing the high end of its guidance.</li><li>This impressive performance was primarily driven by the strength of Atlas, MongoDB's cloud-based database platform, which saw its year-over-year growth accelerate to 30%, compared to 29% in the previous quarter.</li></ul>

MongoDB reported strong financial performance for the third quarter of fiscal year 2026.The company achieved total revenue of $628.3 million, reflecting a 19% year-over-year growth, surpassing the high end of its guidance.This impressive performance was primarily driven by the strength of Atlas, MongoDB's cloud-based database platform, which saw its year-over-year growth accelerate to 30%, compared to 29% in the previous quarter.

MongoDB Is Targeting AI-Native Developers—Will This West Coast Bet Pay Off at Scale?

United States

MongoDB, Inc. develops database software. The Company provides an open-source database platform for automating, monitoring, and deployment backups. MongoDB renders enterprise software integration, platform certification, and commercial licensing services. MongoDB serves clients worldwide.

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MongoDB (MDB US)

MongoDB: How Atlas, Enterprise Contracts, and AI Applications Are Driving Platform Expansion!

MongoDB reported fourth quarter fiscal 2026 revenue of $695 million, representing 27% year-over-year growth and exceeding the upper end of...

Baptista Research

MongoDB’s Selloff Sends A Warning To The Entire Software Industry!

MongoDB’s recent stock plunge has reignited debate about how investors are valuing software companies in the era of artificial...

Baptista Research

MongoDB (MDB US): Fast-Exit from Nasdaq100 in May 2025

MDB is set to be removed from Nasdaq100 on 16 May due to its low index weighting, with SHOP expected to replace it. ALNY and EBAY are potential...

Dimitris Ioannidis

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

MongoDB Is Targeting AI-Native Developers—Will This West Coast Bet Pay Off at Scale?

MongoDB reported strong financial performance for the third quarter of fiscal year 2026. The company achieved total revenue of $628.3 million,...

Baptista Research

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