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>Snowflake Inc. reported strong results for the second quarter of fiscal 2027, reflecting an acceleration in product revenue growth to 37% year-over-year, marking the third consecutive quarter of growth acceleration.</li><li>Product revenue reached $1.49 billion, supported by both core data platform demand and growing AI workloads, including its proprietary AI products CoCo and CoWork.</li><li>These AI tools are gaining significant traction, with CoCo surpassing 9,100 accounts and CoWork expanding to 5,800 accounts, driving customer adoption and deeper engagement.</li></ul>

Snowflake Inc. reported strong results for the second quarter of fiscal 2027, reflecting an acceleration in product revenue growth to 37% year-over-year, marking the third consecutive quarter of growth acceleration.Product revenue reached $1.49 billion, supported by both core data platform demand and growing AI workloads, including its proprietary AI products CoCo and CoWork.These AI tools are gaining significant traction, with CoCo surpassing 9,100 accounts and CoWork expanding to 5,800 accounts, driving customer adoption and deeper engagement.

Snowflake’s Hidden AI Engine — CoCo Surpasses 9,100 Accounts!

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

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<a href="https://www.smartkarma.com/entities/quantinuum-inc" target="_blank" data-smartkarma-citation="entities:49399:1" rel="noopener">Quantinuum (QNT US)</a> will be added to the BlueStar Machine Learning and Quantum Computing Index after the close on 18 September.</li>
<li>Estimated one-way turnover is 9.1% resulting in a round-trip trade of US$1bn. There are a few stocks with decent ADV to trade.</li>
<li>There are inflows for <a href="https://www.smartkarma.com/entities/honeywell-aerospace-inc" target="_blank" data-smartkarma-citation="entities:50307:1" rel="noopener">Honeywell Aerospace</a>, <a href="https://www.smartkarma.com/entities/honeywell-international-inc" target="_blank" data-smartkarma-citation="entities:16765:1" rel="noopener">Honeywell International</a> and <a href="https://www.smartkarma.com/entities/on-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:2729:1" rel="noopener">On Semiconductor</a> and outflows for <a href="https://www.smartkarma.com/entities/arqit-quantum-inc" target="_blank" data-smartkarma-citation="entities:35381:1" rel="noopener">Arqit Quantum</a>, <a href="https://www.smartkarma.com/entities/horizon-quantum-holdings-ltd" target="_blank" data-smartkarma-citation="entities:36891:1" rel="noopener">Horizon Quantum Holdings</a> and <a href="https://www.smartkarma.com/entities/global-unichip-corp" target="_blank" data-smartkarma-citation="entities:10305:1" rel="noopener">Global Unichip</a>.</li>
</ul>



Quantinuum (QNT US) will be added to the BlueStar Machine Learning and Quantum Computing Index after the close on 18 September.
Estimated one-way turnover is 9.1% resulting in a round-trip trade of US$1bn. There are a few stocks with decent ADV to trade.
There are inflows for Honeywell Aerospace, Honeywell International and On Semiconductor and outflows for Arqit Quantum, Horizon Quantum Holdings and Global Unichip.


BlueStar Machine Learning and Quantum Computing Index: 1 Add & US$1bn Trade

<ul><li>Snowflake Inc. reported a first quarter fiscal 2027 marked by accelerating product revenue growth and increasing integration of AI-driven capabilities within its platform.</li><li>Product revenue reached $1.334 billion, growing 34% year-over-year, up from 30% in the prior quarter and 26% a year ago.</li><li>This growth reflects both momentum in Snowflake’s core data platform business and rapid adoption of AI products like Snowflake Intelligence and Cortex Code (CoCo).</li></ul>

Snowflake Inc. reported a first quarter fiscal 2027 marked by accelerating product revenue growth and increasing integration of AI-driven capabilities within its platform.Product revenue reached $1.334 billion, growing 34% year-over-year, up from 30% in the prior quarter and 26% a year ago.This growth reflects both momentum in Snowflake’s core data platform business and rapid adoption of AI products like Snowflake Intelligence and Cortex Code (CoCo).

Snowflake’s $6 Billion AWS Deal: Is The AI Data Cloud Entering A New Phase?

<ul><li>Snowflake Inc has suddenly become one of the more closely watched names in the enterprise AI race after signing a five-year, $6 billion agreement with Amazon Web Services for access to AWS Graviton CPUs. The deal places Snowflake among AWS’s largest customers for CPU-based computing, alongside major technology buyers such as Apple and Meta.</li><li>The market reaction was immediate, with Snowflake shares jumping as much as 35% after the announcement.</li><li>But the bigger story is not just the size of the contract.</li></ul>

Snowflake Inc has suddenly become one of the more closely watched names in the enterprise AI race after signing a five-year, $6 billion agreement with Amazon Web Services for access to AWS Graviton CPUs. The deal places Snowflake among AWS’s largest customers for CPU-based computing, alongside major technology buyers such as Apple and Meta.The market reaction was immediate, with Snowflake shares jumping as much as 35% after the announcement.But the bigger story is not just the size of the contract.

Snowflake’s $6 Billion AI Bet: The Agent Economy Just Got Real!

<ul><li>Snowflake Inc.'s latest financial results reveal a mix of strengths and challenges for investors to consider.</li><li>A key highlight is the company's strong product revenue growth, which increased by 30% year-over-year, reaching $1.23 billion for the quarter.</li><li>This growth underscores the robust demand for Snowflake's offerings, particularly in the AI-driven data analytics space.</li></ul>

Snowflake Inc.'s latest financial results reveal a mix of strengths and challenges for investors to consider.A key highlight is the company's strong product revenue growth, which increased by 30% year-over-year, reaching $1.23 billion for the quarter.This growth underscores the robust demand for Snowflake's offerings, particularly in the AI-driven data analytics space.

Snowflake: Cortex Code Is Supercharging Data Pipelines—But Can It Become the Bulldozer of the AI Data Economy?

United States

Snowflake Inc. provides software solutions. The Company develops database architecture, data warehouses, query optimization, and parallelization solutions. Snowflake serves customers worldwide.

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Snowflake (SNOW US)

Snowflake’s Hidden AI Engine — CoCo Surpasses 9,100 Accounts!

Snowflake Inc. reported strong results for the second quarter of fiscal 2027, reflecting an acceleration in product revenue growth to 37%...

Baptista Research

BlueStar Machine Learning and Quantum Computing Index: 1 Add & US$1bn Trade

There is 1 add for BQTUM in Sep. Estimated one-way turnover is 9.1% resulting in a round-trip trade of US$1bn. There are a few stocks with multiple...

Brian Freitas

Snowflake’s $6 Billion AWS Deal: Is The AI Data Cloud Entering A New Phase?

Snowflake Inc. reported a first quarter fiscal 2027 marked by accelerating product revenue growth and increasing integration of AI-driven...

Baptista Research

Snowflake’s $6 Billion AI Bet: The Agent Economy Just Got Real!

Snowflake Inc has suddenly become one of the more closely watched names in the enterprise AI race after signing a five-year, $6 billion agreement...

Baptista Research

Snowflake: Cortex Code Is Supercharging Data Pipelines—But Can It Become the Bulldozer of the AI Data Economy?

Snowflake Inc.'s latest financial results reveal a mix of strengths and challenges for investors to consider. A key highlight is the company's...

Baptista Research

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