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

Veeva Systems Inc Class A / Equity Bottom-Up

<ul><li>Veeva Systems reported a solid start to fiscal year 2027, surpassing guidance with total revenue of $883 million and non-GAAP operating income of $395 million for the first quarter.</li><li>The company highlighted strong execution across its business segments, emphasizing innovation particularly in life sciences artificial intelligence (AI) applications.</li><li>A significant focus was on Veeva Falcon, described as a disruptive innovation aimed at automating agentic labor within drug development.</li></ul>

Veeva Systems reported a solid start to fiscal year 2027, surpassing guidance with total revenue of $883 million and non-GAAP operating income of $395 million for the first quarter.The company highlighted strong execution across its business segments, emphasizing innovation particularly in life sciences artificial intelligence (AI) applications.A significant focus was on Veeva Falcon, described as a disruptive innovation aimed at automating agentic labor within drug development.

Veeva’s Ostro Deal: Can AI-Driven Q&A Supercharge Commercial Cloud?

<ul><li>Veeva Systems appears to be operating in an environment where industry conditions are becoming somewhat clearer in selected areas, but not enough to remove caution from the broader outlook.</li><li>Management indicated that certain policy and regulatory issues affecting pharmaceutical customers have become more understandable than in prior quarters, including matters related to pricing and regulation.</li><li>Even so, the company continues to frame its outlook conservatively because a number of external variables remain unsettled.</li></ul>

Veeva Systems appears to be operating in an environment where industry conditions are becoming somewhat clearer in selected areas, but not enough to remove caution from the broader outlook.Management indicated that certain policy and regulatory issues affecting pharmaceutical customers have become more understandable than in prior quarters, including matters related to pricing and regulation.Even so, the company continues to frame its outlook conservatively because a number of external variables remain unsettled.

Veeva Systems: The Expansion Into CRO Channels—A Strategic Move To Capture The Fast-Growing Biotech Pipeline!

<ul><li>Veeva Systems reported strong fiscal third-quarter results for 2026, exceeding guidance with total revenue reaching $811 million and non-GAAP operating income of $365 million.</li><li>The company is making substantial progress with Veeva AI and is introducing significant innovations across its product lines, including Vault CRM, Crossix, Clinical, and Safety.</li><li>On the CRM front, Veeva stated that 14 of its top 20 customers indicate a migration to Vault CRM, while six are considering other solutions.</li></ul>

Veeva Systems reported strong fiscal third-quarter results for 2026, exceeding guidance with total revenue reaching $811 million and non-GAAP operating income of $365 million.The company is making substantial progress with Veeva AI and is introducing significant innovations across its product lines, including Vault CRM, Crossix, Clinical, and Safety.On the CRM front, Veeva stated that 14 of its top 20 customers indicate a migration to Vault CRM, while six are considering other solutions.

Veeva’s $100M AI Gamble: Why The Ostro Acquisition Could Redefine Pharma Engagement

Veeva Systems: A Unified Cloud Stack Strategy Linking Safety, Development, & Commercial Execution!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight developments that are inconsistent with a major bottom in equities that suggests the broad equity market is not yet out of the woods.  In fact, during today's action, the 2760 support level on the S&amp;P 500 briefly held but ultimately gave way. With the SPX holding below 2760 today, we are looking for downside targets of 2650 first, and then potentially 2470 if that fails to hold.</p>

Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight developments that are inconsistent with a major bottom in equities that suggests the broad equity market is not yet out of the woods.  In fact, during today's action, the 2760 support level on the S&amp;P 500 briefly held but ultimately gave way. With the SPX holding below 2760 today, we are looking for downside targets of 2650 first, and then potentially 2470 if that fails to hold.

U.S. Equity Strategy: Several Indicators Suggest a Pullback Likely

United States

Veeva Systems Inc. provides cloud-based business services. The Company offers enterprise applications, multichannel platform, customer relationship, and content management solutions. Veeva Systems serves customers in the United States.

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Veeva Systems Inc Class A (VEEV US)

Veeva’s Ostro Deal: Can AI-Driven Q&A Supercharge Commercial Cloud?

Veeva Systems reported a solid start to fiscal year 2027, surpassing guidance with total revenue of $883 million and non-GAAP operating income of...

Baptista Research

Veeva Systems: The Expansion Into CRO Channels—A Strategic Move To Capture The Fast-Growing Biotech Pipeline!

Veeva Systems appears to be operating in an environment where industry conditions are becoming somewhat clearer in selected areas, but not enough...

Baptista Research

Veeva’s $100M AI Gamble: Why The Ostro Acquisition Could Redefine Pharma Engagement

Veeva Systems reported strong fiscal third-quarter results for 2026, exceeding guidance with total revenue reaching $811 million and non-GAAP...

Baptista Research

Veeva Systems: A Unified Cloud Stack Strategy Linking Safety, Development, & Commercial Execution!

Veeva Systems reported strong fiscal third-quarter results for 2026, exceeding guidance with total revenue reaching $811 million and non-GAAP...

Baptista Research

U.S. Equity Strategy: Several Indicators Suggest a Pullback Likely

Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight...

Vermilion Research

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