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

Palantir Technologies  / Equity Bottom-Up

<ul><li>Palantir Technologies delivered a very strong first quarter, with revenue growth accelerating to 85% year over year and 16% sequentially, supported by significant momentum in both commercial and government markets.</li><li>The company’s U.S. business was the central driver, growing 104% year over year and 19% sequentially, while U.S. commercial revenue increased 133% year over year and U.S. government revenue rose 84%.</li><li>This suggests that demand for Palantir Technologies’ AI platform remains unusually strong across enterprise and public-sector use cases, especially where customers require governed, auditable and operationally embedded AI rather than standalone model access.</li></ul>

Palantir Technologies delivered a very strong first quarter, with revenue growth accelerating to 85% year over year and 16% sequentially, supported by significant momentum in both commercial and government markets.The company’s U.S. business was the central driver, growing 104% year over year and 19% sequentially, while U.S. commercial revenue increased 133% year over year and U.S. government revenue rose 84%.This suggests that demand for Palantir Technologies’ AI platform remains unusually strong across enterprise and public-sector use cases, especially where customers require governed, auditable and operationally embedded AI rather than standalone model access.

Palantir Technologies: The $7.656 Billion Outlook Raises The Growth Durability Bar!

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Palantir reported Q1 2026  revenue growth of 85% year-over-year to $1.633 billion. U.S. revenue crossed $1 billion for the first time and grew 104% year-over-year.</li>
<li>New FY 2026 guidance: $7.650-$7.662 billion, or 71% growth. That is 10 percentage points above what they guided just one quarter ago.</li>
<li>Palantir’s Rule of 40 score has soared to 145%. We have shattered the metric, a feat matched only by other fellow AI infrastructure companies: NVIDIA, Micron and SK Hynix</li>
</ul>


Palantir reported Q1 2026  revenue growth of 85% year-over-year to $1.633 billion. U.S. revenue crossed $1 billion for the first time and grew 104% year-over-year.
New FY 2026 guidance: $7.650-$7.662 billion, or 71% growth. That is 10 percentage points above what they guided just one quarter ago.
Palantir’s Rule of 40 score has soared to 145%. We have shattered the metric, a feat matched only by other fellow AI infrastructure companies: NVIDIA, Micron and SK Hynix


Palantir Q1 2026. Rewriting The Rule Of 40

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li><em><strong>Repatriation Investment Account (RIA) has surpassed 1 trillion won ($690 million) since its launch about a month ago in Korea. </strong></em></li>
<li>Total amount of overseas listed investments by Korean investors increased from $27 billion at the end of 2020 to $131.7 billion as of 22 April 2026.</li>
<li>RIA account is aiming to slow down this aggressive growth of overseas stock investments by Korean investors and rather try to repatriate these overseas investments into the Korean stock market. </li>
</ul>


Repatriation Investment Account (RIA) has surpassed 1 trillion won ($690 million) since its launch about a month ago in Korea. 
Total amount of overseas listed investments by Korean investors increased from $27 billion at the end of 2020 to $131.7 billion as of 22 April 2026.
RIA account is aiming to slow down this aggressive growth of overseas stock investments by Korean investors and rather try to repatriate these overseas investments into the Korean stock market. 


Repatriation Investment Account (RIA) Surpasses 1 Trillion Won in One Month in Korea

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a>, an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.</li>
<li>SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.</li>
<li>In this note, we talk about the company background and its ground breaking space segment.</li>
</ul>



SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.
SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.
In this note, we talk about the company background and its ground breaking space segment.


Aequitas: SpaceX IPO - Space - The Breakthrough Segment but with Low/No Growth

<ul>
<li>
<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a>, an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.</li>
<li>SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.</li>
<li>We will undertake our more serious analysis in the coming days. This note is a lighthearted look at some of the other worldly claims and Grok’s view on SpaceX valuation.</li>
</ul>



SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.
SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.
We will undertake our more serious analysis in the coming days. This note is a lighthearted look at some of the other worldly claims and Grok’s view on SpaceX valuation.


Aequitas: SpaceX IPO- A Lighthearted Take on Some of the Claims - Grok Speaks the Truth on Valuation

United States

Palantir Technologies Inc. develops software to analyze information. The Company offers solutions support many kinds of data including structured, unstructured, relational, temporal, and geospatial. Palantir Technologies serves customers worldwide.

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Palantir Technologies (PLTR US)

Palantir Technologies: The $7.656 Billion Outlook Raises The Growth Durability Bar!

Palantir Technologies delivered a very strong first quarter, with revenue growth accelerating to 85% year over year and 16% sequentially,...

Baptista Research

Palantir Q1 2026. Rewriting The Rule Of 40

Palantir’s Rule of 40 score has soared to 145%. We have shattered the metric, a feat matched only by other fellow AI infrastructure companies:...

William Keating

Repatriation Investment Account (RIA) Surpasses 1 Trillion Won in One Month in Korea

Repatriation Investment Account (RIA) has surpassed 1 trillion won ($690 million) since its launch about a month ago in Korea.

Douglas Kim

Aequitas: SpaceX IPO - Space - The Breakthrough Segment but with Low/No Growth

SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we look at its ground breaking...

Sumeet Singh

Aequitas: SpaceX IPO- A Lighthearted Take on Some of the Claims - Grok Speaks the Truth on Valuation

SpaceX (SPCX US), an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. This note is a lighthearted look at some of the...

Sumeet Singh

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