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>NetApp, Inc.’s performance in the first quarter of fiscal year 2026 showcased a blend of stability and challenge, reflecting both opportunities and headwinds in the market landscape.</li><li>The company reported revenues of $1.56 billion, exceeding the midpoint of their guidance, largely driven by strong performance in the Americas.</li><li>This offset declines in the U.S. public sector and the EMEA region.</li></ul>

NetApp, Inc.’s performance in the first quarter of fiscal year 2026 showcased a blend of stability and challenge, reflecting both opportunities and headwinds in the market landscape.The company reported revenues of $1.56 billion, exceeding the midpoint of their guidance, largely driven by strong performance in the Americas.This offset declines in the U.S. public sector and the EMEA region.

NetApp: Can Its Cloud Margins Really Climb to 85% & Beyond?

<ul><li>NetApp reported record revenue for the fourth quarter and fiscal year 2025, showcasing strong growth in the all flash storage market and first-party and marketplace storage services.</li><li>The company achieved all-time highs in gross profit, operating profit, operating margin, and earnings per share (EPS), which indicates a robust financial performance and a potential strong position in the evolving enterprise AI market.</li><li>A critical component of NetApp’s growth strategy is focusing on AI-powered infrastructure, with all-flash systems and public cloud services contributing to over two-thirds of the total revenue.</li></ul>

NetApp reported record revenue for the fourth quarter and fiscal year 2025, showcasing strong growth in the all flash storage market and first-party and marketplace storage services.The company achieved all-time highs in gross profit, operating profit, operating margin, and earnings per share (EPS), which indicates a robust financial performance and a potential strong position in the evolving enterprise AI market.A critical component of NetApp’s growth strategy is focusing on AI-powered infrastructure, with all-flash systems and public cloud services contributing to over two-thirds of the total revenue.

NetApp Inc.: 6 Critical Factors That Will Define Its Success in 2025 & Beyond!

<ul><li>NetApp, Inc. reported a 2% year-over-year revenue growth for the third quarter of fiscal year 2025 and an above expected operating margin of 30%.</li><li>Despite achieving growth for five consecutive quarters, the company acknowledged that the top-line performance was not fully satisfactory.</li><li>They attributed this to inconsistent execution resulting in delayed deal closures towards the quarter's end.</li></ul>

NetApp, Inc. reported a 2% year-over-year revenue growth for the third quarter of fiscal year 2025 and an above expected operating margin of 30%.Despite achieving growth for five consecutive quarters, the company acknowledged that the top-line performance was not fully satisfactory.They attributed this to inconsistent execution resulting in delayed deal closures towards the quarter's end.

NetApp’s Soaring Cloud Profits Might Just Be Here To Stay!

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>Markets always act erratically, but I thought I would highlight one aspect that disproportionately impacts semiconductors.</li><li>Factor investing is not new, but we are in a unique period where Momentum has quite a period of outperformance and short-term outperformance.</li><li>This matters because semiconductors are (as far as my memory holds) the most significant weight in Momentum I’ve ever witnessed. </li></ul>

Markets always act erratically, but I thought I would highlight one aspect that disproportionately impacts semiconductors.Factor investing is not new, but we are in a unique period where Momentum has quite a period of outperformance and short-term outperformance.This matters because semiconductors are (as far as my memory holds) the most significant weight in Momentum I’ve ever witnessed. 

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>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Short-Term supports on SPX include 6480-6520, 6450, 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059; buy pullbacks</li>
<li>The list of areas re-emerging as leadership has meaningfully expanded to include ARKK, ARKW, uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), and other themes including IPOs/A.I./nuclear/robotics/drones/autonomous driving/bitcoin</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Short-Term supports on SPX include 6480-6520, 6450, 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059; buy pullbacks
The list of areas re-emerging as leadership has meaningfully expanded to include ARKK, ARKW, uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), and other themes including IPOs/A.I./nuclear/robotics/drones/autonomous driving/bitcoin


High Growth Areas Re-Emerging as Leadership; Remain Overweight Growth; Bullish Outlook Intact

United States

NetApp, Inc. provides storage and data management solutions. The Company's storage solutions include specialized hardware, software, and services that provide storage management for open network environments. NetApp  serves enterprises, government agencies, and universities worldwide.

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Netapp Inc (NTAP US)

NetApp: Can Its Cloud Margins Really Climb to 85% & Beyond?

NetApp, Inc.’s performance in the first quarter of fiscal year 2026 showcased a blend of stability and challenge, reflecting both opportunities...

Baptista Research

NetApp Inc.: 6 Critical Factors That Will Define Its Success in 2025 & Beyond!

NetApp reported record revenue for the fourth quarter and fiscal year 2025, showcasing strong growth in the all flash storage market and...

Baptista Research

NetApp’s Soaring Cloud Profits Might Just Be Here To Stay!

NetApp, Inc. reported a 2% year-over-year revenue growth for the third quarter of fiscal year 2025 and an above expected operating margin of...

Baptista Research

Factors and Semiconductors

A friendly warning. Momentum is outperforming all factors this year, and Semiconductors are a large part of that. Markets always act erratically,...

Fabricated Knowledge

High Growth Areas Re-Emerging as Leadership; Remain Overweight Growth; Bullish Outlook Intact

High Growth Areas Re-Emerging as Leadership; Remain Overweight Growth; Bullish Outlook Intact on $SPX $QQQ $IWM. $ARKK $URA $HYDR $IONQ $OKLO $BBAI...

Vermilion Research

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