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>Block, Inc., the parent company to Block and Cash App, delivered robust results in the second quarter of 2024, reflecting strong growth in key business areas aligned with strategic initiatives.</li><li>The company reported a gross profit of $2.23 billion, marking a 20% year-over-year increase.</li><li>The Cash App segment notably outperformed, contributing a gross profit of $1.3 billion, up 23% year-over-year, thanks to the robust performance of the Cash App Card, Cash App Borrow, and Buy Now, Pay Later services.</li></ul>

Block, Inc., the parent company to Block and Cash App, delivered robust results in the second quarter of 2024, reflecting strong growth in key business areas aligned with strategic initiatives.The company reported a gross profit of $2.23 billion, marking a 20% year-over-year increase.The Cash App segment notably outperformed, contributing a gross profit of $1.3 billion, up 23% year-over-year, thanks to the robust performance of the Cash App Card, Cash App Borrow, and Buy Now, Pay Later services.

Block Inc.: Focus on Banking Products and Direct Deposit Services & Other Major Drivers

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zip-co-ltd-3708706d-4978-4e29-acbc-d9702b971da9" target="_blank" data-smartkarma-citation="entities:29126:1" rel="noopener">Zip (ZIP AU)</a> plans to raise around US$145m in order to repay its outstanding debt.</li>
<li>The company has undertaken a number of deals in the past and has a mixed track record.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



Zip (ZIP AU) plans to raise around US$145m in order to repay its outstanding debt.
The company has undertaken a number of deals in the past and has a mixed track record.
In this note, we will talk about the placement and run the deal through our ECM framework.


ZIP Placement - Worth a Small Punt, at Best

<ul><li>Block Inc., previously known as Square, provided updates on its business performance for the first quarter of 2024 in a recent earnings conference call.</li><li>The company reported an impressive gross profit of $2.09 billion, an increase of 22% compared with the same period last year.</li><li>This was mainly due to robust growth in the company's Square and Cash App businesses, and discipline in managing expenses.</li></ul>

Block Inc., previously known as Square, provided updates on its business performance for the first quarter of 2024 in a recent earnings conference call.The company reported an impressive gross profit of $2.09 billion, an increase of 22% compared with the same period last year.This was mainly due to robust growth in the company's Square and Cash App businesses, and discipline in managing expenses.

Block Inc.: A Deep Dive Into Their  Strategic Evolution & Competitive Landscape! - Major Drivers

<ul><li>Block has shown considerable growth in gross profit with an impressive 25% increase year over year, largely driven by the strong performance of its Cash App.</li><li>Adjusted EBITDA was up by 81% compared to previous year, proving positive focus on efficiency and profitability.</li><li>The execution of its investment framework and consistent progress towards achieving its Rule of 40 target in 2026, were also remarkable.</li></ul>

Block has shown considerable growth in gross profit with an impressive 25% increase year over year, largely driven by the strong performance of its Cash App.Adjusted EBITDA was up by 81% compared to previous year, proving positive focus on efficiency and profitability.The execution of its investment framework and consistent progress towards achieving its Rule of 40 target in 2026, were also remarkable.

Block Inc.: Expansion Of Financial Services Through The Cash App & 5 Growth Catalysts! - Financial Forecasts

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>Diving Deep into Hindenburg Research's comprehensive report on Temenos triggers a market plunge, alleging accounting manipulations, failed North American expansion, product failures, and troubled European deals.</li>
<li>Allegations include aggressive revenue recognition, excessive R&amp;D capitalization, difficulty in revenue collection, inflated free cash flow, and executive insiders stock divestment.</li>
<li>Temenos denies allegations, defending its business integrity, performance, and financial standing, but market volatility persists, emphasizing the need for transparent communication and governance reassurance.</li>
</ul>


Diving Deep into Hindenburg Research's comprehensive report on Temenos triggers a market plunge, alleging accounting manipulations, failed North American expansion, product failures, and troubled European deals.
Allegations include aggressive revenue recognition, excessive R&amp;D capitalization, difficulty in revenue collection, inflated free cash flow, and executive insiders stock divestment.
Temenos denies allegations, defending its business integrity, performance, and financial standing, but market volatility persists, emphasizing the need for transparent communication and governance reassurance.


Unveiling the Shadows: A Deep Dive into Hindenburg Research's Exposé on Temenos

United States

Block, Inc. operates as a financial services and digital payments company. The Company develops a payments platform aimed at small and medium businesses that allows them to accept credit card payments and use tablet computers as payment registers for a point-of-sale system. Block also provides financial and marketing services.

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Block (XYZ US)

Block Inc.: Focus on Banking Products and Direct Deposit Services & Other Major Drivers

Block, Inc., the parent company to Block and Cash App, delivered robust results in the second quarter of 2024, reflecting strong growth in key...

Baptista Research

ZIP Placement - Worth a Small Punt, at Best

Zip (ZIP AU) plans to raise around US$145m in order to repay its outstanding debt. In this note, we talk about the deal dynamics and run the deal...

Sumeet Singh

Block Inc.: A Deep Dive Into Their Strategic Evolution & Competitive Landscape! - Major Drivers

Block Inc., previously known as Square, provided updates on its business performance for the first quarter of 2024 in a recent earnings conference...

Baptista Research

Block Inc.: Expansion Of Financial Services Through The Cash App & 5 Growth Catalysts! - Financial Forecasts

Block has shown considerable growth in gross profit with an impressive 25% increase year over year, largely driven by the strong performance of...

Baptista Research

Unveiling the Shadows: A Deep Dive into Hindenburg Research's Exposé on Temenos

Reason behind 33% Fall in Temenos Share Price: A Deep Dive into Hindenburg Research's latest exposé on Temenos comprising of financial...

Nimish Maheshwari

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