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>SPS Commerce delivered a strong performance in the first quarter of fiscal year 2025.</li><li>The company's revenue grew by 21% year-over-year to $181.5 million, marking its 97th consecutive quarter of revenue growth.</li><li>Recurring revenue also saw a 23% increase, underscoring the stability and consistent demand for SPS Commerce's solutions.</li></ul>

SPS Commerce delivered a strong performance in the first quarter of fiscal year 2025.The company's revenue grew by 21% year-over-year to $181.5 million, marking its 97th consecutive quarter of revenue growth.Recurring revenue also saw a 23% increase, underscoring the stability and consistent demand for SPS Commerce's solutions.

SPS Commerce: Is The Robust Recurring Revenue Growth Here To Stay?

<ul><li>SPS Commerce has reported a strong performance for the fourth quarter and full-year 2024, showcasing a notable growth trajectory.</li><li>For the full year, the company's revenue increased by 19% to $637.8 million, with recurring revenue rising by 20%.</li><li>Fulfillment and analytics sectors also saw significant growth, with the former growing by 20% and the latter by 8%.</li></ul>

SPS Commerce has reported a strong performance for the fourth quarter and full-year 2024, showcasing a notable growth trajectory.For the full year, the company's revenue increased by 19% to $637.8 million, with recurring revenue rising by 20%.Fulfillment and analytics sectors also saw significant growth, with the former growing by 20% and the latter by 8%.

SPS Commerce Is Expanding Its Total Addressable Market (TAM) & Wallet Share But Does It Warrant A ‘Buy’ Rating?

<ul><li>SPS Commerce delivered notable results in the third quarter of 2024, exhibiting a significant increase in both revenue and recurring revenue, both rising by 21% to reach $163.7 million.</li><li>The company's performance is particularly underscored by its sustained growth, marking the 95th consecutive quarter of revenue expansion.</li><li>This growth trajectory is supported by notable acquisitions, including TIE Kinetix and SupplyPike, which have enriched SPS Commerce's product offerings and expanded its addressable market.</li></ul>

SPS Commerce delivered notable results in the third quarter of 2024, exhibiting a significant increase in both revenue and recurring revenue, both rising by 21% to reach $163.7 million.The company's performance is particularly underscored by its sustained growth, marking the 95th consecutive quarter of revenue expansion.This growth trajectory is supported by notable acquisitions, including TIE Kinetix and SupplyPike, which have enriched SPS Commerce's product offerings and expanded its addressable market.

SPS Commerce Inc.: Expanding Product Portfolio & Leveraging Cross-Selling Opportunities! - Major Drivers

<ul><li>SPS Commerce delivered noteworthy achievements in its second quarter of 2024, highlighting strengths in revenue growth and strategic expansions, but also facing challenges that warrant a balanced review for potential investors.</li><li>Starting with the positives, SPS Commerce reported an 18% increase in revenue to $153.6 million, with recurring revenue also growing by 18%.</li><li>This growth is supported by the company's robust position in supplying mission critical, supply chain solutions which are increasingly vital as the retail industry intensifies its focus on efficiency and automation.</li></ul>

SPS Commerce delivered noteworthy achievements in its second quarter of 2024, highlighting strengths in revenue growth and strategic expansions, but also facing challenges that warrant a balanced review for potential investors.Starting with the positives, SPS Commerce reported an 18% increase in revenue to $153.6 million, with recurring revenue also growing by 18%.This growth is supported by the company's robust position in supplying mission critical, supply chain solutions which are increasingly vital as the retail industry intensifies its focus on efficiency and automation.

SPS Commerce Inc.: Acquisition of SupplyPike to Enhance Retail Supply Chain Solutions & Other Major Drivers

<ul><li>In the first quarter of 2024, SPS Commerce launched a strong start to the year with a 19% increase in revenue, amounting to $149.6 million, along with a corresponding growth in recurring revenue.</li><li>Notably, SPS Commerce capitalized on its position as a leading supplier of supply chain cloud services by intensifying investments in automation, reflecting the trend among supply chain and manufacturing leaders, 74% of whom are planning to invest in supply chain innovation and technology.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

In the first quarter of 2024, SPS Commerce launched a strong start to the year with a 19% increase in revenue, amounting to $149.6 million, along with a corresponding growth in recurring revenue.Notably, SPS Commerce capitalized on its position as a leading supplier of supply chain cloud services by intensifying investments in automation, reflecting the trend among supply chain and manufacturing leaders, 74% of whom are planning to invest in supply chain innovation and technology.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

SPS Commerce Inc.: Network Effects in Business Model & 3 Pivotal Growth Drivers

United States

SPS Commerce Inc provides on-demand supply chain management solutions through an online hosted software suite.  The Company uses pre-built integrations to eliminate on-premise software and support staff to shorten supply cycle times, optimize inventory levels and reduce costs.

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Sps Commerce (SPSC US)

SPS Commerce: Is The Robust Recurring Revenue Growth Here To Stay?

SPS Commerce delivered a strong performance in the first quarter of fiscal year 2025. The company's revenue grew by 21% year-over-year to $181.5...

Baptista Research

SPS Commerce Inc.: Expanding Product Portfolio & Leveraging Cross-Selling Opportunities! - Major Drivers

SPS Commerce delivered notable results in the third quarter of 2024, exhibiting a significant increase in both revenue and recurring revenue, both...

Baptista Research

SPS Commerce Inc.: Acquisition of SupplyPike to Enhance Retail Supply Chain Solutions & Other Major Drivers

SPS Commerce delivered noteworthy achievements in its second quarter of 2024, highlighting strengths in revenue growth and strategic expansions,...

Baptista Research

SPS Commerce Inc.: Network Effects in Business Model & 3 Pivotal Growth Drivers

In the first quarter of 2024, SPS Commerce launched a strong start to the year with a 19% increase in revenue, amounting to $149.6 million, along...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SPS Commerce: Is The Robust Recurring Revenue Growth Here To Stay?

SPS Commerce delivered a strong performance in the first quarter of fiscal year 2025. The company's revenue grew by 21% year-over-year to $181.5...

Baptista Research

SPS Commerce Is Expanding Its Total Addressable Market (TAM) & Wallet Share But Does It Warrant A ‘Buy’ Rating?

SPS Commerce has reported a strong performance for the fourth quarter and full-year 2024, showcasing a notable growth trajectory. For the full...

Baptista Research

SPS Commerce Inc.: Expanding Product Portfolio & Leveraging Cross-Selling Opportunities! - Major Drivers

SPS Commerce delivered notable results in the third quarter of 2024, exhibiting a significant increase in both revenue and recurring revenue, both...

Baptista Research

SPS Commerce Inc.: Acquisition of SupplyPike to Enhance Retail Supply Chain Solutions & Other Major Drivers

SPS Commerce delivered noteworthy achievements in its second quarter of 2024, highlighting strengths in revenue growth and strategic expansions,...

Baptista Research

SPS Commerce Inc.: Network Effects in Business Model & 3 Pivotal Growth Drivers

In the first quarter of 2024, SPS Commerce launched a strong start to the year with a 19% increase in revenue, amounting to $149.6 million, along...

Baptista Research