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>In the Q1 2024 earnings, Wix.com Ltd.'s management shared a very positive outlook based on the company's recent financial results, strategic initiatives, and product advancements.</li>
<li>Key achievements included stronger-than-expected Q1 growth, with booking growing to over $457 million and revenue reaching $420 million, exceeding the company's previous guidance.</li>
<li>This performance led to free cash flow growth to more than $111 million.</li>
</ul>


In the Q1 2024 earnings, Wix.com Ltd.'s management shared a very positive outlook based on the company's recent financial results, strategic initiatives, and product advancements.
Key achievements included stronger-than-expected Q1 growth, with booking growing to over $457 million and revenue reaching $420 million, exceeding the company's previous guidance.
This performance led to free cash flow growth to more than $111 million.


Wix.com Ltd. - Improved Monetization Leading to Increasing ARPS! - Major Drivers

<ul>
<li>Wix reported strong Q4 2023 earnings underpinned by its pivot to AI innovation.</li>
<li>2023 was a year of significant progress for the firm as it demonstrated robust growth, reaching record profitability levels.</li>
<li>With the focus on AI, Wix introduced an array of AI-powered features that would help users create web content more efficiently, resulting in improved monetization and heightened user conversion rates.</li>
</ul>


Wix reported strong Q4 2023 earnings underpinned by its pivot to AI innovation.
2023 was a year of significant progress for the firm as it demonstrated robust growth, reaching record profitability levels.
With the focus on AI, Wix introduced an array of AI-powered features that would help users create web content more efficiently, resulting in improved monetization and heightened user conversion rates.


Wix.com Ltd.: A Story Of Product Enhancements & Innovations Fueled by AI! - Major Drivers

<ul>
<li>This is our first report on Wix, the popular website creation platform.</li>
<li>Furthermore, the financial period recorded over $62 million of free cash flow, accounting for 16% of revenues, greater than what the company anticipated.</li>
<li>Riding on this success, Wix has increased revenue and free cash flow guidance for the rest of the year.</li>
</ul>


This is our first report on Wix, the popular website creation platform.
Furthermore, the financial period recorded over $62 million of free cash flow, accounting for 16% of revenues, greater than what the company anticipated.
Riding on this success, Wix has increased revenue and free cash flow guidance for the rest of the year.


Wix.com Ltd.: Initiation of Coverage – Business Strategy

Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

<ul>
<li>Wix.com Ltd. trumps earnings, suggesting its business model is taking off amid robust growth in the SME space.</li>
<li>The company has yet to achieve profitability, but its up-the-line margins are improving.</li>
<li>Website building tool Wix.com Ltd. (WIX) beat its fourth-quarter earnings estimates on Wednesday, illustrating continued progress with a model suitable to today's business environment. 
</li>
</ul>


Wix.com Ltd. trumps earnings, suggesting its business model is taking off amid robust growth in the SME space.
The company has yet to achieve profitability, but its up-the-line margins are improving.
Website building tool Wix.com Ltd. (WIX) beat its fourth-quarter earnings estimates on Wednesday, illustrating continued progress with a model suitable to today's business environment. 



Wix.com Beat Q4 Earnings, Prospects Are Bright

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Founded in 2003 by the CEO Anthony Casalena, Squarespace is getting ready to complete its direct public listing on May 19 on the New York Stock Exchange. Squarespace raised $300 million ($68.42 per share) in March 2021 from investors including Tiger Global, D1 Capital Partners, and Fidelity Management &amp; Research Company, valuing the company at nearly<a href="https://www.reuters.com/article/us-squarespace-funding-idUSKBN2B832O" target="_blank" rel="noopener"> $10 billion. </a>Other major investors of the company include Accel, Index Ventures, and General Atlantic. Squarespace joins a list of numerous technology companies that have become public through the direct listing route, including <a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies Inc (PLTR US)</a>, <a href="https://www.smartkarma.com/entities/roblox-corp" target="_blank" data-smartkarma-citation="entities:29697:1" rel="noopener">ROBLOX Corp (RBLX US)</a>, and <a href="https://www.smartkarma.com/entities/coinbase-global-inc" target="_blank" data-smartkarma-citation="entities:32227:1" rel="noopener">Coinbase (COIN US)</a>. Squarespace's shareholders have registered to sell about 40.4 million common shares with the CEO Anthony Caslena holding a 68.2% stake. Squarespace is a one-stop-shop platform for websites creation, domains, e-commerce, and marketing tools for companies and organizations to manage their social media presence. The company generated sales of $621.2 million in 2020, up 28.1% YoY. Its sales growth accelerated by 31.3% YoY to $179.7 million in 1Q 2021. Although the company benefited from higher sales and gross margins, its operating margins declined from 12.7% in 2019 to 6.5% in 2020, which was caused by higher R&amp;D and sales &amp; marketing expenses.

Founded in 2003 by the CEO Anthony Casalena, Squarespace is getting ready to complete its direct public listing on May 19 on the New York Stock Exchange. Squarespace raised $300 million ($68.42 per share) in March 2021 from investors including Tiger Global, D1 Capital Partners, and Fidelity Management &amp; Research Company, valuing the company at nearly $10 billion. Other major investors of the company include Accel, Index Ventures, and General Atlantic. Squarespace joins a list of numerous technology companies that have become public through the direct listing route, including Palantir Technologies Inc (PLTR US), ROBLOX Corp (RBLX US), and Coinbase (COIN US). Squarespace's shareholders have registered to sell about 40.4 million common shares with the CEO Anthony Caslena holding a 68.2% stake. Squarespace is a one-stop-shop platform for websites creation, domains, e-commerce, and marketing tools for companies and organizations to manage their social media presence. The company generated sales of $621.2 million in 2020, up 28.1% YoY. Its sales growth accelerated by 31.3% YoY to $179.7 million in 1Q 2021. Although the company benefited from higher sales and gross margins, its operating margins declined from 12.7% in 2019 to 6.5% in 2020, which was caused by higher R&amp;D and sales &amp; marketing expenses.

Israel

Wix.com Ltd. operates and develops a web platform. The Company's platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms.

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Wix.Com Ltd (WIX US)

Wix.com Ltd. - Improved Monetization Leading to Increasing ARPS! - Major Drivers

In the Q1 2024 earnings, Wix.com Ltd.'s management shared a very positive outlook based on the company's recent financial results, strategic...

Baptista Research

Wix.com Ltd.: A Story Of Product Enhancements & Innovations Fueled by AI! - Major Drivers

Wix reported strong Q4 2023 earnings underpinned by its pivot to AI innovation. 2023 was a year of significant progress for the firm as it...

Baptista Research

Wix.com Ltd.: Initiation of Coverage – Business Strategy

This is our first report on Wix, the popular website creation platform. Furthermore, the financial period recorded over $62 million of free cash...

Baptista Research

Wix.com Beat Q4 Earnings, Prospects Are Bright

Website building tool Wix.com Ltd. (WIX) beat its fourth-quarter earnings estimates on Wednesday, illustrating continued progress with a model...

Pearl Gray Equity and Research

Squarespace Direct Listing Preview

Squarespace is getting ready to complete its direct public listing on May 19 on the New York Stock Exchange. In this insight, we provide the key...

Douglas Kim

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