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>Palo Alto Networks reported a record fiscal 2026 finish, exceeding fourth-quarter guidance across financial metrics as bookings and platform adoption accelerated.</li><li>Remaining Performance Obligations reached more than $21.2 billion, up 34% year-over-year, while Next-Generation Security ARR increased 63% to $9.1 billion.</li><li>Nearly $1 billion of net new NGS ARR was added during the quarter.</li></ul>

Palo Alto Networks reported a record fiscal 2026 finish, exceeding fourth-quarter guidance across financial metrics as bookings and platform adoption accelerated.Remaining Performance Obligations reached more than $21.2 billion, up 34% year-over-year, while Next-Generation Security ARR increased 63% to $9.1 billion.Nearly $1 billion of net new NGS ARR was added during the quarter.

Palo Alto Networks’ $20 Billion Security Ambition — Can Platformization Deliver?

<ul><li>Palo Alto Networks has moved deeper into agentic cybersecurity with its September 1, 2026 acquisition of Console, an AI-native platform designed to let enterprises analyze data, resolve operational issues, and build automated workflows through natural-language instructions.</li><li>The transaction comes as Palo Alto is attempting to reposition security operations around machine-speed detection, prevention, and remediation rather than human-led dashboard monitoring and ticket queues.</li><li>Management said Console will become part of Cortex and help “agentify” capabilities across the platform, fitting into a broader strategy built around XSIAM, Prisma AIRS, Idira, and an expanding observability stack.</li></ul>

Palo Alto Networks has moved deeper into agentic cybersecurity with its September 1, 2026 acquisition of Console, an AI-native platform designed to let enterprises analyze data, resolve operational issues, and build automated workflows through natural-language instructions.The transaction comes as Palo Alto is attempting to reposition security operations around machine-speed detection, prevention, and remediation rather than human-led dashboard monitoring and ticket queues.Management said Console will become part of Cortex and help “agentify” capabilities across the platform, fitting into a broader strategy built around XSIAM, Prisma AIRS, Idira, and an expanding observability stack.

Palo Alto Takeover Of Console Could Deepen Its Platform Advantage!

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

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Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

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<li>The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant.</li>
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<p>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</p>
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<li>
<p>Previous portfolio returned -3.5% vs. MSCI World (-1.3%) – underperformed the benchmark by</p>
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</ul>


The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant.

By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.


Previous portfolio returned -3.5% vs. MSCI World (-1.3%) – underperformed the benchmark by



Global Top Fund Managers (Shariah) Portfolio (14-Sep-2026)

<ul><li>The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li><li>Previous portfolio returned -0.2% vs. MSCI World (-1.3%) – outperformed the benchmark by 1.2%.</li></ul>

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.Previous portfolio returned -0.2% vs. MSCI World (-1.3%) – outperformed the benchmark by 1.2%.

Global Competitive Barrier (Shariah) Portfolio (14-Sep-2026)

<ul><li>Palo Alto Networks has spent years telling investors that cybersecurity is moving toward consolidation, but recent reports suggest CEO Nikesh Arora may have considered taking that strategy much further.</li><li>According to The Information, Arora held meetings with Okta CEO Todd McKinnon between late 2024 and early 2025 about a potential acquisition, with discussions ultimately breaking down over price.</li><li>He also reportedly approached Datadog CEO Olivier Pomel in spring 2025, although Pomel was not interested and no formal offer followed.</li></ul>

Palo Alto Networks has spent years telling investors that cybersecurity is moving toward consolidation, but recent reports suggest CEO Nikesh Arora may have considered taking that strategy much further.According to The Information, Arora held meetings with Okta CEO Todd McKinnon between late 2024 and early 2025 about a potential acquisition, with discussions ultimately breaking down over price.He also reportedly approached Datadog CEO Olivier Pomel in spring 2025, although Pomel was not interested and no formal offer followed.

Palo Alto’s $100 Billion Ambition? The Datadog & Okta Deals That Never Happened!

United States

Palo Alto Networks, Inc. provides network security solutions. The Company offers firewalls that identify and control applications, scan content to stop threats, prevent data leakage, integrated application, user, and content visibility. Palo Alto Networks serves customers worldwide.

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Palo Alto Networks (PANW US)

Palo Alto Networks’ $20 Billion Security Ambition — Can Platformization Deliver?

Palo Alto Networks reported a record fiscal 2026 finish, exceeding fourth-quarter guidance across financial metrics as bookings and platform...

Baptista Research

Palo Alto Takeover Of Console Could Deepen Its Platform Advantage!

Palo Alto Networks has moved deeper into agentic cybersecurity with its September 1, 2026 acquisition of Console, an AI-native platform designed...

Baptista Research

Global Top Fund Managers (Shariah) Portfolio (14-Sep-2026)

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant. By...

Crea8

Global Competitive Barrier (Shariah) Portfolio (14-Sep-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages and are Shariah compliant. By adopting a portfolio of...

Crea8

Palo Alto’s $100 Billion Ambition? The Datadog & Okta Deals That Never Happened!

Palo Alto Networks has spent years telling investors that cybersecurity is moving toward consolidation, but recent reports suggest CEO Nikesh...

Baptista Research

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