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 Capital Markets

Trimble Navigation / Equity Capital Markets

<ul><li>Trimble showed a decent organic revenue growth in the last quarter but failed to meet Wall Street expectations on the revenue front.</li><li>The company’s top-line was impacted by the changes in the foreign exchange rates and it barely managed to meet market expectations regarding earnings.</li><li>Recurring and software revenue continued to grow at quite a strong rate which is reflected by the sequential acceleration of its organic ARR growth.</li></ul>

Trimble showed a decent organic revenue growth in the last quarter but failed to meet Wall Street expectations on the revenue front.The company’s top-line was impacted by the changes in the foreign exchange rates and it barely managed to meet market expectations regarding earnings.Recurring and software revenue continued to grow at quite a strong rate which is reflected by the sequential acceleration of its organic ARR growth.

Trimble Inc: Acquisition of B2W Software & Other Drivers

Credit

<ul><li>Trimble Inc is a well-known player in the agri-tech space.</li><li>The company has gone through its fair share of corporate restructuring with a series of acquisitions and divestments.</li><li>On execution, Trimble continues to simplify its portfolio through actions like decreasing the number of product offerings and part numbers.</li></ul>

Trimble Inc is a well-known player in the agri-tech space.The company has gone through its fair share of corporate restructuring with a series of acquisitions and divestments.On execution, Trimble continues to simplify its portfolio through actions like decreasing the number of product offerings and part numbers.

Trimble Inc: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on agri-tech player, Trimble Inc.</li><li>The company has delivered a robust set of results this quarter with growth in total revenue and gross margin, with excellent progress seen on the Trimble Construction One offering.</li><li>From the perspective of capital allocation, Trimble has divested 5 businesses where the revenue was more than 90%.</li></ul>

This is our first report on agri-tech player, Trimble Inc.The company has delivered a robust set of results this quarter with growth in total revenue and gross margin, with excellent progress seen on the Trimble Construction One offering.From the perspective of capital allocation, Trimble has divested 5 businesses where the revenue was more than 90%.

Trimble Inc: Initiation of Coverage – The Bilberry Acquisition & Other Drivers

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

<ul>
<li>IOT data platform meant to digitize physical operations for manufacturing, transportation, construction, utilities, healthcare, and education. </li>
<li>Excellent management team, previously co-founded Meraki, which was sold to Cisco.</li>
<li>Hypergrowth software business on par with ServiceNow and Workday at this stage in growth, but much less profitable (so far) due to hardware and bandwidth costs.</li>
</ul>


IOT data platform meant to digitize physical operations for manufacturing, transportation, construction, utilities, healthcare, and education. 
Excellent management team, previously co-founded Meraki, which was sold to Cisco.
Hypergrowth software business on par with ServiceNow and Workday at this stage in growth, but much less profitable (so far) due to hardware and bandwidth costs.


APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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.

CE Info Systems (MapmyIndia) / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ce-info-systems-mapmyindia" target="_blank" data-smartkarma-citation="entities:34215:1" rel="noopener">CE Info Systems (MapmyIndia) (1052633Z IN)</a> raised around US$138m in its India IPO.</li>
<li>CE Info Systems is India’s leading provider of advanced digital maps, geospatial software and location-based IoT Technologies, as per Frost &amp; Sullivan (F&amp;S).</li>
<li>In our view, the best way to value the firm would be to compare it against its India peers which, based on our assumptions, provide an upside potential of 70.5-80.6%.</li>
</ul>



CE Info Systems (MapmyIndia) (1052633Z IN) raised around US$138m in its India IPO.
CE Info Systems is India’s leading provider of advanced digital maps, geospatial software and location-based IoT Technologies, as per Frost &amp; Sullivan (F&amp;S).
In our view, the best way to value the firm would be to compare it against its India peers which, based on our assumptions, provide an upside potential of 70.5-80.6%.


CE Info Systems (MapmyIndia) IPO Trading - Poised for a Solid Debut

United States

Trimble Navigation Ltd is a leading provider of advanced location-based solutions that maximize productivity and enhance profitability. The Company integrates its positioning expertise in GPS, laser, optical and inertial technologies with application software, wireless communications, and services to provide complete commercial solutions.

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Trimble Navigation (TRMB US)

Trimble Inc: Acquisition of B2W Software & Other Drivers

Trimble showed a decent organic revenue growth in the last quarter but failed to meet Wall Street expectations on the revenue front. The company’s...

Baptista Research

Trimble Inc: Detailed Credit Analysis & Financial Strength Evaluation Report

Trimble Inc is a well-known player in the agri-tech space. The company has gone through its fair share of corporate restructuring with a series of...

Baptista Research

Trimble Inc: Initiation of Coverage – The Bilberry Acquisition & Other Drivers

This is our first report on agri-tech player, Trimble Inc. The company has delivered a robust set of results this quarter with growth in total...

Baptista Research

Recent IPO Insights: Samsara

Hypergrowth IOT data platform meant to digitize physical operations for manufacturing, transportation, construction, etc. Key dynamic is high FCF...

Aaron Gabin

CE Info Systems (MapmyIndia) IPO Trading - Poised for a Solid Debut

CE Info Systems (MapmyIndia) (1052633Z IN) raised around US$138m in its India IPO. Past deals with similar strong subscription rates have performed...

Clarence Chu

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