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

SolarEdge Technologies  / Equity Bottom-Up

<ul><li>SolarEdge deemed its Q4 2023 and full-year results as clouded by adverse market dynamics and high inventory levels.</li><li>For Q4, SolarEdge reported revenues of about $316 million, split between $282 million in their solar business and $33 million in non-solar activities.</li><li>The company shipped 2.2 million power optimizers and 74,000 inverters during the quarter, along with 133-megawatt hours of batteries.</li></ul>

SolarEdge deemed its Q4 2023 and full-year results as clouded by adverse market dynamics and high inventory levels.For Q4, SolarEdge reported revenues of about $316 million, split between $282 million in their solar business and $33 million in non-solar activities.The company shipped 2.2 million power optimizers and 74,000 inverters during the quarter, along with 133-megawatt hours of batteries.

SolarEdge Technologies Inc.: Expansion of Commercial Segment & Geographical Shift Changing The Game? - Major Drivers

<ul><li>SolarEdge's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations.</li><li>They capped the quarter with revenues reaching approximately $725 million.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

SolarEdge's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations.They capped the quarter with revenues reaching approximately $725 million.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

SolarEdge Technologies.: Shifting Production Strategies Amidst Market Slowdown – A Wise Decision? - Major Drivers

<ul><li>SolarEdge Technologies delivered mixed results in the quarter, with revenues failing to meet analysts' expectations but above-par earnings.</li><li>SolarEdge's solar business generated $947 million in revenue, while its non-solar businesses generated $44 million.</li><li>Their solar business revenue increased due to significant revenues in Europe.</li></ul>

SolarEdge Technologies delivered mixed results in the quarter, with revenues failing to meet analysts' expectations but above-par earnings.SolarEdge's solar business generated $947 million in revenue, while its non-solar businesses generated $44 million.Their solar business revenue increased due to significant revenues in Europe.

SolarEdge Technologies Inc.: Solar-Attached EV Management Solution & Major Developments

<ul><li>It was a successful first quarter for SolarEdge Technologies, reporting an all-around beat.</li><li>Solar business revenues grew 49% year-over-year, driven mainly by sustainable revenues in Europe and the Rest of the World.</li><li>The European residential market continued strong as the company ramped shipments of 3-phase residential inverters, backup inverters, and 3-phase residential batteries.</li></ul>

It was a successful first quarter for SolarEdge Technologies, reporting an all-around beat.Solar business revenues grew 49% year-over-year, driven mainly by sustainable revenues in Europe and the Rest of the World.The European residential market continued strong as the company ramped shipments of 3-phase residential inverters, backup inverters, and 3-phase residential batteries.

SolarEdge Technologies Inc.: Launch Of Battery Virtual Power Plant & Other Drivers

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

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/uber-technologies-inc" target="_blank" data-smartkarma-citation="entities:430:1" rel="noopener">Uber Technologies (UBER US)</a>, <a href="https://www.smartkarma.com/entities/jabil-circuit-inc" target="_blank" data-smartkarma-citation="entities:16674:1" rel="noopener">Jabil Circuit (JBL US)</a> and <a href="https://www.smartkarma.com/entities/builders-firstsource-inc" target="_blank" data-smartkarma-citation="entities:4720:1" rel="noopener">Builders Firstsource (BLDR US)</a> will be added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> at the close on 15 December.</li>
<li>There are a bunch of inclusions. deletions and migrations across the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a>, the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.</li>
<li>We estimate passive trackers will need to buy around US$18bn of <a href="https://www.smartkarma.com/entities/uber-technologies-inc" target="_blank" data-smartkarma-citation="entities:430:1" rel="noopener">Uber Technologies (UBER US)</a>. There has been positioning in the stock for just over a month now. </li>
</ul>



Uber Technologies (UBER US), Jabil Circuit (JBL US) and Builders Firstsource (BLDR US) will be added to the S&amp;P 500 INDEX (SPX INDEX) at the close on 15 December.
There are a bunch of inclusions. deletions and migrations across the S&amp;P 500 INDEX (SPX INDEX), the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.
We estimate passive trackers will need to buy around US$18bn of Uber Technologies (UBER US). There has been positioning in the stock for just over a month now. 


United States

SolarEdge Technologies Inc. provides solar power optimization and photovoltaic monitoring solutions. The Company offers optimizers, inverters, monitoring equipment, tools, and accessories for power harvesting, conversion, and efficiency. SolarEdge Technologies serves customers worldwide.

SolarEdge Technologies (SEDG US)

SolarEdge Technologies Inc.: Expansion of Commercial Segment & Geographical Shift Changing The Game? - Major Drivers

SolarEdge deemed its Q4 2023 and full-year results as clouded by adverse market dynamics and high inventory levels. For Q4, SolarEdge reported...

Baptista Research

SolarEdge Technologies.: Shifting Production Strategies Amidst Market Slowdown – A Wise Decision? - Major Drivers

SolarEdge's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations. They capped the...

Baptista Research

SolarEdge Technologies Inc.: Solar-Attached EV Management Solution & Major Developments

SolarEdge Technologies delivered mixed results in the quarter, with revenues failing to meet analysts' expectations but above-par...

Baptista Research

SolarEdge Technologies Inc.: Launch Of Battery Virtual Power Plant & Other Drivers

It was a successful first quarter for SolarEdge Technologies, reporting an all-around beat. Solar business revenues grew 49% year-over-year,...

Baptista Research

S&P500 Index Rebalance: Calling an UBER

Passive S&P500 index trackers will need to buy around US$18bn of Uber in two weeks. Positioning in the stock began a month ago and just ahead of Q3...

Brian Freitas