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>Salesforce announced its Q4 and full year results for fiscal 2024, reporting a strong performance across all its key metrics.</li><li>This signifies an exceptional year for the company, with revenue, margin, earnings per share (EPS), cash flows, and current remaining performance obligations (cRPO) all recording increased growth.</li><li>The overall transformation seen in Salesforce and its industry has been noted to be substantive, primarily driven by the surge in artificial intelligence.</li></ul>

Salesforce announced its Q4 and full year results for fiscal 2024, reporting a strong performance across all its key metrics.This signifies an exceptional year for the company, with revenue, margin, earnings per share (EPS), cash flows, and current remaining performance obligations (cRPO) all recording increased growth.The overall transformation seen in Salesforce and its industry has been noted to be substantive, primarily driven by the surge in artificial intelligence.

salesforce.com Inc: Can The Spiff Acquisition Truly Enhance Their Offerings & Create Synergies? - Major Drivers

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Salesforce reported 4QFY24 financial results: total revenue was up 10.8% YoY to US$9.29bn, in line with consensus estimate of US$9.22bn.</li><li>FY24 total revenue was up 11.2% YoY to US$34.9bn. Non-GAAP operating income grew by 19.3% YoY to US$2.92bn in 4QFY24, also in line with consensus estimate.</li><li>Full-year non-GAAP operating income delivered strong growth of 50.4% YoY to US$10.6bn in FY24, mainly attributable to Salesforce’s initiatives to drive productivity and efficiency across business lines. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Salesforce reported 4QFY24 financial results: total revenue was up 10.8% YoY to US$9.29bn, in line with consensus estimate of US$9.22bn.FY24 total revenue was up 11.2% YoY to US$34.9bn. Non-GAAP operating income grew by 19.3% YoY to US$2.92bn in 4QFY24, also in line with consensus estimate.Full-year non-GAAP operating income delivered strong growth of 50.4% YoY to US$10.6bn in FY24, mainly attributable to Salesforce’s initiatives to drive productivity and efficiency across business lines. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Salesforce (CRM US) - 4Q Results In-Line; Eye on AI Development

<ul><li>In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding 30%.</li><li>Revenue for the quarter at $8.7 billion, marking an 11% YoY increase, solidifies Salesforce as the third-largest enterprise software company by revenue.</li><li>The company's successes include an 80% growth in deals exceeding $1 million, the introduction of the Data Cloud with 1,000 new customers, and the groundbreaking Einstein GPT Copilots, capturing 17% of the Fortune 100.</li></ul>

In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding 30%.Revenue for the quarter at $8.7 billion, marking an 11% YoY increase, solidifies Salesforce as the third-largest enterprise software company by revenue.The company's successes include an 80% growth in deals exceeding $1 million, the introduction of the Data Cloud with 1,000 new customers, and the groundbreaking Einstein GPT Copilots, capturing 17% of the Fortune 100.

Salesforce Inc.: Can The Acquisition Of Airkit.ai Be A Game Changer? - Major Drivers

<ul><li>Salesforce delivered an all-around beat in the previous quarter.</li><li>The company's non-GAAP operating margin increased in the quarter.</li><li>Salesforce also had fantastic victories throughout the quarter with JPMorgan, Bayer, FedEx, Maersk, as well as the Department of Veterans Affairs.</li></ul>

Salesforce delivered an all-around beat in the previous quarter.The company's non-GAAP operating margin increased in the quarter.Salesforce also had fantastic victories throughout the quarter with JPMorgan, Bayer, FedEx, Maersk, as well as the Department of Veterans Affairs.

Salesforce Inc.: Can The New Starter CRM Put Salesforce On A Different Level Of Growth? - Major Drivers

<ul><li>Salesforce managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>Due to this, it significantly exceeded its margin target for this quarter and delivered an increase in operating margin.</li><li>In revenue, Salesforce delivered 8.2 billion.</li></ul>

Salesforce managed to exceed analyst expectations in terms of revenue as well as earnings.Due to this, it significantly exceeded its margin target for this quarter and delivered an increase in operating margin.In revenue, Salesforce delivered 8.2 billion.

Salesforce.com Inc.: What Is Its Biggest Competitive Advantage? – Key Drivers

United States

salesforce.com, inc. provides software on demand. The Company supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use salesforce.com to manage their customer, sales and operational data.

Salesforce.Com Inc (CRM US)

salesforce.com Inc: Can The Spiff Acquisition Truly Enhance Their Offerings & Create Synergies? - Major Drivers

Salesforce announced its Q4 and full year results for fiscal 2024, reporting a strong performance across all its key metrics. This signifies an...

Baptista Research

Salesforce (CRM US) - 4Q Results In-Line; Eye on AI Development

Salesforce reported 4QFY24 financial results: total revenue was up 10.8% YoY to US$9.29bn, in line with consensus estimate of US$9.22bn.

CMB International

Salesforce Inc.: Can The Acquisition Of Airkit.ai Be A Game Changer? - Major Drivers

In this remarkable quarter, Salesforce announces a double-digit revenue growth, in line with market expectations with a non-GAAP margin exceeding...

Baptista Research

Salesforce Inc.: Can The New Starter CRM Put Salesforce On A Different Level Of Growth? - Major Drivers

Salesforce delivered an all-around beat in the previous quarter. The company's non-GAAP operating margin increased in the quarter. Salesforce also...

Baptista Research

Salesforce.com Inc.: What Is Its Biggest Competitive Advantage? – Key Drivers

Salesforce managed to exceed analyst expectations in terms of revenue as well as earnings. Due to this, it significantly exceeded its margin...

Baptista Research