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>Rapid7's earnings for the first quarter of 2025 presented a nuanced picture of the company's financial and operational performance.</li><li>The company reported revenue of $210 million, reflecting a 3% increase year-over-year, which slightly surpassed their set guidance.</li><li>The Detection and Response (D&R) segment emerged as the primary growth engine, experiencing mid-teens growth and contributing over half of the company's total Annual Recurring Revenue (ARR).</li></ul>

Rapid7's earnings for the first quarter of 2025 presented a nuanced picture of the company's financial and operational performance.The company reported revenue of $210 million, reflecting a 3% increase year-over-year, which slightly surpassed their set guidance.The Detection and Response (D&R) segment emerged as the primary growth engine, experiencing mid-teens growth and contributing over half of the company's total Annual Recurring Revenue (ARR).

Rapid7 Taps Mid-Market Goldmine With Bold Expansion of Exposure Command; What Lies Ahead?

<ul><li>Rapid7, Inc. recently presented its financial results, highlighting various aspects of its business trajectory in 2024 and beyond.</li><li>The company closed 2024 with an annual recurring revenue (ARR) of $840 million, reflecting a 4% increase from the previous year, in line with expectations.</li><li>Despite this growth, it's notable that a significant portion of this expansion is driven by its detection and response (D&R) business, which exceeded $400 million in ARR and achieved double-digit growth.</li></ul>

Rapid7, Inc. recently presented its financial results, highlighting various aspects of its business trajectory in 2024 and beyond.The company closed 2024 with an annual recurring revenue (ARR) of $840 million, reflecting a 4% increase from the previous year, in line with expectations.Despite this growth, it's notable that a significant portion of this expansion is driven by its detection and response (D&R) business, which exceeded $400 million in ARR and achieved double-digit growth.

Rapid7 Inc.: Sales & Productivity Enhancements To Drive Higher Annual Recurring Revenue But Will This Last?

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trend-micro-inc" target="_blank" rel="noopener">Trend Micro Inc. (4704 JP)</a> shares have hit their daily trade limit, following a <a href="https://finance.yahoo.com/news/exclusive-buyout-firms-vie-cybersecurity-003204122.html" target="_blank" rel="noopener">Reuters report</a> that Bain, Advent, KKR, and EQT AB are potential bidders. </li>
<li>The lack of a controlling shareholder and increased cybersecurity M&amp;A activity support the buyout interest. In 4Q2024, cybersecurity M&amp;A reached the highest quarterly volume in the past three years.</li>
<li>The valuation is undemanding. If it trades in line with its median peers’ CY2024 EV/Sales and EV/EBITDA multiple, it implies JPY11,500-15,000, a 6%- 38% premium to the current price. </li>
</ul>



Trend Micro Inc. (4704 JP) shares have hit their daily trade limit, following a Reuters report that Bain, Advent, KKR, and EQT AB are potential bidders. 
The lack of a controlling shareholder and increased cybersecurity M&amp;A activity support the buyout interest. In 4Q2024, cybersecurity M&amp;A reached the highest quarterly volume in the past three years.
The valuation is undemanding. If it trades in line with its median peers’ CY2024 EV/Sales and EV/EBITDA multiple, it implies JPY11,500-15,000, a 6%- 38% premium to the current price. 


Trend Micro (4704 JP): Rumoured Buyout Interest Starting to Take Shape

<ul><li>Rapid7's financial performance in the third quarter of 2024 demonstrates both strengths and challenges in its business operations, as outlined during their earnings call.</li><li>Starting with the positive aspects, Rapid7 ended the quarter with an annual recurring revenue (ARR) of $823 million, representing a 6% year-over-year growth.</li><li>This ARR growth was primarily driven by their threat detection and response sector, which continued to show robust double-digit growth.</li></ul>

Rapid7's financial performance in the third quarter of 2024 demonstrates both strengths and challenges in its business operations, as outlined during their earnings call.Starting with the positive aspects, Rapid7 ended the quarter with an annual recurring revenue (ARR) of $823 million, representing a 6% year-over-year growth.This ARR growth was primarily driven by their threat detection and response sector, which continued to show robust double-digit growth.

Rapid7 Inc: How It Dominates with Managed Detection & Response: The Secret Weapon in Cybersecurity! - Major Drivers

<ul><li>In a pivotal development, Rapid7, a prominent cybersecurity firm valued at $2.4 billion, has entered early discussions with potential buyers, guided by investment banks Goldman Sachs and JPMorgan.</li><li>The firm, headquartered in Boston, has captured the attention of leading private equity firms like Advent, Bain Capital, and EQT, as they consider a potential acquisition.</li><li>With Jana Partners holding a 5.8% stake and advocating for a sale, Rapid7 finds itself in a favorable yet complex position.</li></ul>

In a pivotal development, Rapid7, a prominent cybersecurity firm valued at $2.4 billion, has entered early discussions with potential buyers, guided by investment banks Goldman Sachs and JPMorgan.The firm, headquartered in Boston, has captured the attention of leading private equity firms like Advent, Bain Capital, and EQT, as they consider a potential acquisition.With Jana Partners holding a 5.8% stake and advocating for a sale, Rapid7 finds itself in a favorable yet complex position.

Inside Rapid7’s Acquisition Appeal: Why Buyout Firms Are Scrambling to Buy This Cybersecurity Leader!

United States

Rapid7, Inc. provides security data and analytic software solutions. The Company offers services to collect, contextualize, and analyze security data to reduce threat exposure and detect compromise in real-time.

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Rapid7 Inc (RPD US)

Rapid7 Taps Mid-Market Goldmine With Bold Expansion of Exposure Command; What Lies Ahead?

Rapid7's earnings for the first quarter of 2025 presented a nuanced picture of the company's financial and operational performance. The company...

Baptista Research

Rapid7 Inc.: Sales & Productivity Enhancements To Drive Higher Annual Recurring Revenue But Will This Last?

Rapid7, Inc. recently presented its financial results, highlighting various aspects of its business trajectory in 2024 and beyond. The company...

Baptista Research

Trend Micro (4704 JP): Rumoured Buyout Interest Starting to Take Shape

The valuation is undemanding. If it trades in line with its median peers’ CY2024 EV/Sales and EV/EBITDA multiple, it implies JPY11,500-15,000, a 6%...

Arun George

Rapid7 Inc: How It Dominates with Managed Detection & Response: The Secret Weapon in Cybersecurity! - Major Drivers

Rapid7's financial performance in the third quarter of 2024 demonstrates both strengths and challenges in its business operations, as outlined...

Baptista Research

Inside Rapid7’s Acquisition Appeal: Why Buyout Firms Are Scrambling to Buy This Cybersecurity Leader!

In a pivotal development, Rapid7, a prominent cybersecurity firm valued at $2.4 billion, has entered early discussions with potential buyers,...

Baptista Research

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