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>Visa Inc.</li><li>has had a solid start to fiscal year 2024, reporting in their latest earnings call a first quarter year-on-year increase in payments volume by 8%.</li><li>Key themes have included consistently providing excellent service to customers, seeking new partnerships, delivering innovative solutions and exploring new ways to amplify their brand to support their partners.</li></ul>

Visa Inc.has had a solid start to fiscal year 2024, reporting in their latest earnings call a first quarter year-on-year increase in payments volume by 8%.Key themes have included consistently providing excellent service to customers, seeking new partnerships, delivering innovative solutions and exploring new ways to amplify their brand to support their partners.

Visa Inc.: Strong Cross-Border Business Performance To Set Off US Slowdown! - Major Drivers

<ul><li>Visa Inc. delivered an all-around beat in the most recent quarterly result, showing resilience in the face of economic uncertainties and external challenges.</li><li>Despite concerns about a potential recession and disruptions from events like the Omicron variant, Visa achieved substantial results.</li><li>Visa also saw significant developments in its new flow capabilities, with growth in total commercial volume and the expansion of Visa Direct.</li></ul>

Visa Inc. delivered an all-around beat in the most recent quarterly result, showing resilience in the face of economic uncertainties and external challenges.Despite concerns about a potential recession and disruptions from events like the Omicron variant, Visa achieved substantial results.Visa also saw significant developments in its new flow capabilities, with growth in total commercial volume and the expansion of Visa Direct.

Visa Inc.: Key Moves That Cemented Their Reign in Payments! - Major 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.

<ul>
<li>Elliott Management has bought a $2B stake in PayPal and seeks cost cutting measures.</li>
<li>PayPal has started to take action through cost cutting, a new buyback, new organizational measures, and increased focus on revenue strategy.</li>
<li>The wild card that would get us more bullish is Elliott forcing a merger with Pinterest, which would yield a readymade Dan Schulman replacement in Bill Ready.</li>
</ul>


Elliott Management has bought a $2B stake in PayPal and seeks cost cutting measures.
PayPal has started to take action through cost cutting, a new buyback, new organizational measures, and increased focus on revenue strategy.
The wild card that would get us more bullish is Elliott forcing a merger with Pinterest, which would yield a readymade Dan Schulman replacement in Bill Ready.


PayPal: Elliott Sees Opportunity, So Do We

<ul><li>Visa managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>The quarterly payments volume in the U.S. increased mostly due to a slower inflation rate.</li><li>With the introduction of Visa Business Credit for their 28 million client base, PagSeguro, a significant Brazilian fintech client, will expand in the commercial area.</li></ul>

Visa managed to exceed analyst expectations in terms of revenue as well as earnings.The quarterly payments volume in the U.S. increased mostly due to a slower inflation rate.With the introduction of Visa Business Credit for their 28 million client base, PagSeguro, a significant Brazilian fintech client, will expand in the commercial area.

Visa Inc.: The Pismo Acquisition & Other Major Developments

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>Visa continues to deliver as the company fully capitalizes on recent macroeconomic and industry-wide tailwinds.</li>
<li>The expectations for the upcoming quarter are high and the second half of the fiscal year is also likely to be more challenging.</li>
<li>This creates certain risks for the share price that are not necessarily priced in at the moment.</li>
</ul>


Visa continues to deliver as the company fully capitalizes on recent macroeconomic and industry-wide tailwinds.
The expectations for the upcoming quarter are high and the second half of the fiscal year is also likely to be more challenging.
This creates certain risks for the share price that are not necessarily priced in at the moment.


Visa Earnings: Business Momentum Is Likely To Be Sustained, But Clouds Are Gathering

United States

Visa Inc. operates a retail electronic payments network and manages global financial services.  The Company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

Visa (V US)

Visa Inc.: Strong Cross-Border Business Performance To Set Off US Slowdown! - Major Drivers

Visa Inc. has had a solid start to fiscal year 2024, reporting in their latest earnings call a first quarter year-on-year increase in payments...

Baptista Research

Visa Inc.: Key Moves That Cemented Their Reign in Payments! - Major Drivers

Visa Inc. delivered an all-around beat in the most recent quarterly result, showing resilience in the face of economic uncertainties and external...

Baptista Research

PayPal: Elliott Sees Opportunity, So Do We

We think Elliott's stake in PayPal and management's 4 pronged plan announced on last week's earnings has put the floor in on PYPL. Trading at an...

Aaron Gabin

Visa Inc.: The Pismo Acquisition & Other Major Developments

Visa managed to exceed analyst expectations in terms of revenue as well as earnings. The quarterly payments volume in the U.S. increased mostly...

Baptista Research

Visa Earnings: Business Momentum Is Likely To Be Sustained, But Clouds Are Gathering

Visa continues to deliver as the company fully capitalizes on recent macroeconomic and industry-wide tailwinds. The expectations for the upcoming...

Vladimir Dimitrov, CFA