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>Rollins, Inc. has reported its third-quarter results for 2025, highlighting several key areas of growth and operational efficiency.</li><li>The company experienced a total revenue growth of 12%, driven by organic growth of 7.2%.</li><li>Acquisitions, including Saela, further contributed to these results.</li></ul>

Rollins, Inc. has reported its third-quarter results for 2025, highlighting several key areas of growth and operational efficiency.The company experienced a total revenue growth of 12%, driven by organic growth of 7.2%.Acquisitions, including Saela, further contributed to these results.

Rollins Is Building a Pest Control Empire – Here’s How Its Acquisition Spree Is Paying Off!

<ul><li>Rollins Inc, the parent company of Orkin and other leading pest control brands, has emerged as one of the most resilient performers of 2025, gaining over 25% year-to-date.</li><li>While many businesses scramble to adapt to the rapid disruption of artificial intelligence, Rollins stands apart.</li><li>It’s not just surviving the AI wave—it’s thriving.</li></ul>

Rollins Inc, the parent company of Orkin and other leading pest control brands, has emerged as one of the most resilient performers of 2025, gaining over 25% year-to-date.While many businesses scramble to adapt to the rapid disruption of artificial intelligence, Rollins stands apart.It’s not just surviving the AI wave—it’s thriving.

Rollins Has An AI-Proof Moat—But Is The Stock Too Pricey?

<ul><li>Rollins, Inc.'s second-quarter 2025 performance demonstrates a combination of strategic growth and some operational challenges.</li><li>The company reported notable revenue growth, with total revenue increasing by 12.1% compared to the previous year, and organic growth marking a 7.3% rise.</li><li>This expansion was driven by solid performances across all major service lines, including residential, commercial pest control, and termite and ancillary services.</li></ul>

Rollins, Inc.'s second-quarter 2025 performance demonstrates a combination of strategic growth and some operational challenges.The company reported notable revenue growth, with total revenue increasing by 12.1% compared to the previous year, and organic growth marking a 7.3% rise.This expansion was driven by solid performances across all major service lines, including residential, commercial pest control, and termite and ancillary services.

Rollins Inc.: Reinventing Its Strategy with AI, Brand Diversification, & Market Expansion Plans!

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>Semiconductors (SMH,SOXX,NVDA,AVGO) have been leadership since late-2022, but they're extended and starting to see profit taking as market participants rotate into other laggard areas of the market (especially Energy).</li>
<li>The question is whether this new trend lasts a few days, or if this is the start of longer-term trend.</li>
<li>If there will be any lasting rotation away from Technology/semiconductors, SPX and QQQ would need to break strong short-term supports at 5370-5380 and $468-469, respectively. Until then, Tech/semis remain leadership</li>
</ul>


Semiconductors (SMH,SOXX,NVDA,AVGO) have been leadership since late-2022, but they're extended and starting to see profit taking as market participants rotate into other laggard areas of the market (especially Energy).
The question is whether this new trend lasts a few days, or if this is the start of longer-term trend.
If there will be any lasting rotation away from Technology/semiconductors, SPX and QQQ would need to break strong short-term supports at 5370-5380 and $468-469, respectively. Until then, Tech/semis remain leadership


Rotation Is the Lifeblood of a Bull Market; Still Bullish; Supports at SPX 5370-5380, QQQ $468-469

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>Despite some more mixed signals, a majority of market dynamics still suggests a risk-on environment. Our bullish outlook since early November 2023 remains intact with SPX and QQQ uptrends intact.</li>
<li>Near-Term we continue to expect to see support at the 20-day MA and 21-day EMA on the SPX (currently 5325-5330) and QQQ (currently $460-462).</li>
<li>Longer-Term, we're bullish as long as the SPX is above 5191 and QQQ is above $449. We'd need to see breakdowns below these levels in order to shift to neutral.</li>
</ul>


Despite some more mixed signals, a majority of market dynamics still suggests a risk-on environment. Our bullish outlook since early November 2023 remains intact with SPX and QQQ uptrends intact.
Near-Term we continue to expect to see support at the 20-day MA and 21-day EMA on the SPX (currently 5325-5330) and QQQ (currently $460-462).
Longer-Term, we're bullish as long as the SPX is above 5191 and QQQ is above $449. We'd need to see breakdowns below these levels in order to shift to neutral.


Bullish Outlook Intact; Downgrading Industrials and Transportation to Underweight

United States

Rollins, Inc., through its subsidiary, Orkin Exterminating Company, Inc., provides essential pest control services.  The Company also provides protection against termite damage, rodents, and insects.  Rollins serves customers in the United States, Canada, and Mexico.

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Rollins Inc (ROL US)

Rollins Is Building a Pest Control Empire – Here’s How Its Acquisition Spree Is Paying Off!

Rollins, Inc. has reported its third-quarter results for 2025, highlighting several key areas of growth and operational efficiency. The company...

Baptista Research

Rollins Has An AI-Proof Moat—But Is The Stock Too Pricey?

Rollins Inc, the parent company of Orkin and other leading pest control brands, has emerged as one of the most resilient performers of 2025,...

Baptista Research

Rollins Inc.: Reinventing Its Strategy with AI, Brand Diversification, & Market Expansion Plans!

Rollins, Inc.'s second-quarter 2025 performance demonstrates a combination of strategic growth and some operational challenges. The company...

Baptista Research

Rotation Is the Lifeblood of a Bull Market; Still Bullish; Supports at SPX 5370-5380, QQQ $468-469

Rotation is the Lifeblood of a Bull Market; Bullish Outlook Intact; Expecting Short-term Support at $SPX 5370-5380 and $QQQ $468-469 (20-day MAs...

Vermilion Research

Bullish Outlook Intact; Downgrading Industrials and Transportation to Underweight

Bullish Outlook Intact; Downgrading Industrials $XLI and Transports to Underweight; We still expect support at the 20-day MA/21-day EMA on $SPX...

Vermilion Research

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