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 managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>They continued to execute well and generated impressive revenue growth.</li><li>MongoDB's flagship product, Atlas, experienced significant year-over-year growth and contributed substantially to the company's overall revenue.</li></ul>

MongoDB managed to exceed analyst expectations in terms of revenue as well as earnings.They continued to execute well and generated impressive revenue growth.MongoDB's flagship product, Atlas, experienced significant year-over-year growth and contributed substantially to the company's overall revenue.

MongoDB Inc.: Poised for Further Growth But Is It Too Late To Invest? – Key Drivers

Equity Capital Markets

<ul><li>MongoDB performed well in the third quarter in both financial and operational terms.</li><li>In addition, ISVs are continuing to develop their solutions using MongoDB in an increasing number of cases.</li><li>MongoDB is looking to achieve profitable growth and focus on acquiring new workloads from both existing and new customers.</li></ul>

MongoDB performed well in the third quarter in both financial and operational terms.In addition, ISVs are continuing to develop their solutions using MongoDB in an increasing number of cases.MongoDB is looking to achieve profitable growth and focus on acquiring new workloads from both existing and new customers.

MongoDB Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)

<ul><li>MongoDB delivered another strong performance in the second quarter.</li><li>During the quarter, they added more than 37,000 customers, indicating another robust quarter of customer growth.</li><li>Furthermore, rates are still high, proving that their clients do not have a choice about spending money on MongoDB.</li></ul>

MongoDB delivered another strong performance in the second quarter.During the quarter, they added more than 37,000 customers, indicating another robust quarter of customer growth.Furthermore, rates are still high, proving that their clients do not have a choice about spending money on MongoDB.

<ul><li>This is our first report on database major, MongoDB.</li><li>The company delivered yet another all round beat in the previous result with a staggering 57% growth year over year.</li><li>The revenue generated by Atlas alone increased by 82% year over year and accounted for 60% of MongoDB’s total revenue.</li></ul>

This is our first report on database major, MongoDB.The company delivered yet another all round beat in the previous result with a staggering 57% growth year over year.The revenue generated by Atlas alone increased by 82% year over year and accounted for 60% of MongoDB’s total revenue.

MongoDB Inc.: Initiation of Coverage – Business Model & The Database Industry Boom

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<div class="content-highlight"><p><strong>Our comparable companies valuation sensitivity analysis suggests an implied EV range of $6.2 billion to $11.3 billion and implied market cap of $7.3 billion to $12.4 billion for Tuya.</strong></p></div><p>The market is likely to attach valuation multiples that are in the high end range of the comps mainly because Tuya's sales growth is higher than the comps' average. Plus, it is difficult to find companies such as Tuya which specializes in the IoT related PaaS/SaaS products and services and investors are likely to put a premium on the company's strengths.</p><p>Similar to how smartphones and mobile connectivity has changed the world in the past decade, there is a huge amount of interest in IoT (Internet of Things) driven technology which is just starting to get penetrated in businesses around the world. Similar to how smartphones have allowed millions of people to be better "connected", the IoT technology will now enable the "machines to be connected" to the network, enabling greater business efficiencies and new revenue opportunities. </p>

Our comparable companies valuation sensitivity analysis suggests an implied EV range of $6.2 billion to $11.3 billion and implied market cap of $7.3 billion to $12.4 billion for Tuya.The market is likely to attach valuation multiples that are in the high end range of the comps mainly because Tuya's sales growth is higher than the comps' average. Plus, it is difficult to find companies such as Tuya which specializes in the IoT related PaaS/SaaS products and services and investors are likely to put a premium on the company's strengths.Similar to how smartphones and mobile connectivity has changed the world in the past decade, there is a huge amount of interest in IoT (Internet of Things) driven technology which is just starting to get penetrated in businesses around the world. Similar to how smartphones have allowed millions of people to be better "connected", the IoT technology will now enable the "machines to be connected" to the network, enabling greater business efficiencies and new revenue opportunities. 

Tuya IPO - Valuation Sensitivity Analysis

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 Inc.: Poised for Further Growth But Is It Too Late To Invest? – Key Drivers

MongoDB managed to exceed analyst expectations in terms of revenue as well as earnings. They continued to execute well and generated impressive...

Baptista Research

MongoDB Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)

MongoDB performed well in the third quarter in both financial and operational terms. In addition, ISVs are continuing to develop their solutions...

Baptista Research

MongoDB Inc: Major Drivers

MongoDB delivered another strong performance in the second quarter. During the quarter, they added more than 37,000 customers, indicating another...

Baptista Research

MongoDB Inc.: Initiation of Coverage – Business Model & The Database Industry Boom

This is our first report on database major, MongoDB. The company delivered yet another all round beat in the previous result with a staggering 57%...

Baptista Research

Tuya IPO - Valuation Sensitivity Analysis

Our comparable companies valuation sensitivity analysis suggests an implied EV range of $6.2 billion to $11.3 billion and implied market cap of...

Douglas Kim

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