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>Skechers had a solid quarter and surpassed Wall Street expectations in terms of revenues with strong growth that was distributed geographically and is evident in both its Direct-to-consumer and wholesale segments in spite of Covid-19 headwinds in various markets.</li><li>During the quarter, the wholesale business of the U.S. increased because of improvements in categories and genders, including accessory and apparel lines.</li><li>In the quarter, Skechers opened 46 stores owned by the company, which included 15 large box shores in the US.</li></ul>

Skechers had a solid quarter and surpassed Wall Street expectations in terms of revenues with strong growth that was distributed geographically and is evident in both its Direct-to-consumer and wholesale segments in spite of Covid-19 headwinds in various markets.During the quarter, the wholesale business of the U.S. increased because of improvements in categories and genders, including accessory and apparel lines.In the quarter, Skechers opened 46 stores owned by the company, which included 15 large box shores in the US.

Skechers USA: Collaboration With Tokidoki & Other Drivers

Equity Capital Markets

Skechers Usa Inc Cl A / Equity Capital Markets

<ul><li>Skechers started 2022 on a positive note with quarterly sales of over $1.8 billion, a growth of nearly 27%.</li><li>The revenue growth split that the company saw was a domestic growth of 29% and international growth of 26% and it was driven by global consumer demand for its comfort products, bolstered by its multimedia marketing.</li><li>Skechers’ entire international business now accounts for 57% of their sales and the management has worked on strong brand recognition worldwide.</li></ul>

Skechers started 2022 on a positive note with quarterly sales of over $1.8 billion, a growth of nearly 27%.The revenue growth split that the company saw was a domestic growth of 29% and international growth of 26% and it was driven by global consumer demand for its comfort products, bolstered by its multimedia marketing.Skechers’ entire international business now accounts for 57% of their sales and the management has worked on strong brand recognition worldwide.

Skechers USA Inc: Entry Into The Metaverse & Other Drivers

<ul><li>Skechers managed to achieve a double-digit growth in all of their reportable sections in the recent quarterly result.</li><li>A positive sign which might help Skechers cope with the Omicron headwinds is that its direct-to-consumer business increased 44% in the last quarter, led by a 61% increase in the company's foreign business and a 35% increase in its domestic business.</li><li>The company has also made a move to penetrate the Philippines market by moving its operations from a third-party distributor to within the company itself.</li></ul>

Skechers managed to achieve a double-digit growth in all of their reportable sections in the recent quarterly result.A positive sign which might help Skechers cope with the Omicron headwinds is that its direct-to-consumer business increased 44% in the last quarter, led by a 61% increase in the company's foreign business and a 35% increase in its domestic business.The company has also made a move to penetrate the Philippines market by moving its operations from a third-party distributor to within the company itself.

<ul><li>Skechers reported a stellar second quarter for 2021 the top and the bottom line numbers surpassing Wall Street expectations and showing a strong year-over-year growth.</li><li>The footwear giant benefitted from growth across domestic and international channels, driven by strong wholesale as well as direct-to consumer sales.</li><li>Skechers’ direct-to-consumer sales increased by a staggering 137.8% to $507.9 million, backed by growth across international and domestic retail stores despite a slight drop in domestic e-commerce sales.</li></ul>

Skechers reported a stellar second quarter for 2021 the top and the bottom line numbers surpassing Wall Street expectations and showing a strong year-over-year growth.The footwear giant benefitted from growth across domestic and international channels, driven by strong wholesale as well as direct-to consumer sales.Skechers’ direct-to-consumer sales increased by a staggering 137.8% to $507.9 million, backed by growth across international and domestic retail stores despite a slight drop in domestic e-commerce sales.

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

<p>We continue to see a mixed market, and weak market dynamics lead us to be cautious. One of the primary issues is weak breadth; the large-cap indexes (S&amp;P 500 and Nasdaq) remain bullish despite being held up by a relatively small number of mega-cap growth stocks, a condition that can persist for weeks or months. Ultimately, as long as there continues to be an absence of breakdowns at the index and Sector level we remain constructive overall.</p>

We continue to see a mixed market, and weak market dynamics lead us to be cautious. One of the primary issues is weak breadth; the large-cap indexes (S&amp;P 500 and Nasdaq) remain bullish despite being held up by a relatively small number of mega-cap growth stocks, a condition that can persist for weeks or months. Ultimately, as long as there continues to be an absence of breakdowns at the index and Sector level we remain constructive overall.

U.S. Equity Strategy: Cautious Overall; Favor Large-Caps & Growth; Key Supports Holding In The U.S.

United States

Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged, and lifestyle footwear for men, women, and children.  The Company sells its products to department stores and specialty retailers.  Skechers also sells its products internationally through distributors and directly to consumers through its own retail stores.

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Skechers Usa Inc Cl A (SKX US)

Skechers USA: Collaboration With Tokidoki & Other Drivers

Skechers had a solid quarter and surpassed Wall Street expectations in terms of revenues with strong growth that was distributed geographically...

Baptista Research

Skechers USA Inc: Entry Into The Metaverse & Other Drivers

Skechers started 2022 on a positive note with quarterly sales of over $1.8 billion, a growth of nearly 27%. The revenue growth split that the...

Baptista Research

Skechers USA Inc. - Investment Thesis

Skechers managed to achieve a double-digit growth in all of their reportable sections in the recent quarterly result. A positive sign which might...

Baptista Research

Skechers USA Inc. - Investment Thesis

Skechers reported a stellar second quarter for 2021 the top and the bottom line numbers surpassing Wall Street expectations and showing a strong...

Baptista Research

U.S. Equity Strategy: Cautious Overall; Favor Large-Caps & Growth; Key Supports Holding In The U.S.

The S&P 500 remains bullish, recently hitting our 4400-4406 target as large-caps remain attractive. As long as support at the 50-day MA and 4257...

Vermilion Research

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