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>As Workday accelerates its push into AI-powered enterprise software, the company recently announced its intention to acquire Pipedream, an AI integration platform offering over 3,000 pre-built connectors to external business applications.</li><li>The deal, expected to close in Q4 of fiscal year 2026 (ending January 31, 2026), underscores Workday's commitment to expanding its end-to-end AI agent ecosystem.</li><li>This acquisition follows a string of AI-focused deals including Sana, Paradox, and Flowise, signaling a clear strategic direction toward strengthening Workday’s unified human capital and financial management platform.</li></ul>

As Workday accelerates its push into AI-powered enterprise software, the company recently announced its intention to acquire Pipedream, an AI integration platform offering over 3,000 pre-built connectors to external business applications.The deal, expected to close in Q4 of fiscal year 2026 (ending January 31, 2026), underscores Workday's commitment to expanding its end-to-end AI agent ecosystem.This acquisition follows a string of AI-focused deals including Sana, Paradox, and Flowise, signaling a clear strategic direction toward strengthening Workday’s unified human capital and financial management platform.

Workday’s Pipedream Play: The AI Acquisition That Could Reshape Enterprise Integration!

<ul><li>Workday, Inc. announced its second quarter fiscal year 2026 results, highlighting a mixed bag of financial performance, product innovation, and strategic initiatives designed to strengthen its foothold in the cloud-based enterprise software market.</li><li>The company reported a 14% year-over-year increase in subscription revenue, totaling $2.169 billion, and a non-GAAP operating margin of 29%.</li><li>Total revenue rose to $2.348 billion, marking a 13% growth driven largely by robust demand across several verticals, geographies, and customer segments.</li></ul>

Workday, Inc. announced its second quarter fiscal year 2026 results, highlighting a mixed bag of financial performance, product innovation, and strategic initiatives designed to strengthen its foothold in the cloud-based enterprise software market.The company reported a 14% year-over-year increase in subscription revenue, totaling $2.169 billion, and a non-GAAP operating margin of 29%.Total revenue rose to $2.348 billion, marking a 13% growth driven largely by robust demand across several verticals, geographies, and customer segments.

Workday’s Hidden Growth Engine: Why 70% of Customers Can’t Stop Using Its AI!

<ul><li>Workday Inc. reported a robust first quarter of fiscal year 2026, demonstrating solid growth in key financial metrics and notable advancements in its strategic initiatives.</li><li>The company reported a 13% increase in subscription revenue, reaching $2.059 billion, and achieved a non-GAAP operating margin of 30.2%.</li><li>This performance was driven by strong customer adoption across various industries, solid contributions from their partner ecosystem, and a continued focus on AI innovation.</li></ul>

Workday Inc. reported a robust first quarter of fiscal year 2026, demonstrating solid growth in key financial metrics and notable advancements in its strategic initiatives.The company reported a 13% increase in subscription revenue, reaching $2.059 billion, and achieved a non-GAAP operating margin of 30.2%.This performance was driven by strong customer adoption across various industries, solid contributions from their partner ecosystem, and a continued focus on AI innovation.

Workday Inc.: Will Its WorkdayGO Initiatives Help to Quickly Modernize & Streamline The Enterprise Functions?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>The index is reviewed quarterly. The next review will be in June 2024 and the evaluation date for the rankings for the constituent selection process is 6th June 2024.</li>
<li>In this insight, we take a look at the Potential ADDs and Potential DELs for the June 2024 index rebal event and the intra-review ADDs/DELETEs.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
The index is reviewed quarterly. The next review will be in June 2024 and the evaluation date for the rankings for the constituent selection process is 6th June 2024.
In this insight, we take a look at the Potential ADDs and Potential DELs for the June 2024 index rebal event and the intra-review ADDs/DELETEs.


Quiddity Leaderboard S&P 500 Jun 24 Rebal: Many Intra-Review Changes Possible Due to M&A, Spin-Offs

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>The index is reviewed quarterly. The next review will be in March 2024 and the evaluation date for the rankings for the constituent selection process is 29th February 2024.</li>
<li>In this insight, we take a look at Potential ADDs and Potential DELs for the rebalance. We estimate US$13.1bn one-way flow on 3 ADDs and 3 DELs.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
The index is reviewed quarterly. The next review will be in March 2024 and the evaluation date for the rankings for the constituent selection process is 29th February 2024.
In this insight, we take a look at Potential ADDs and Potential DELs for the rebalance. We estimate US$13.1bn one-way flow on 3 ADDs and 3 DELs.


Quiddity Leaderboard S&P 500 Mar 24: Big Index Flows Possible for Workday and KKR

United States

Workday, Inc. provides enterprise cloud-based applications. The Company offers human capital, spend, and financial management, as well as payroll, initiatives and higher education solutions. Workday serves the finance, healthcare, manufacturing, education, and technology industries worldwide.

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Workday Inc Class A (WDAY US)

Workday’s Pipedream Play: The AI Acquisition That Could Reshape Enterprise Integration!

As Workday accelerates its push into AI-powered enterprise software, the company recently announced its intention to acquire Pipedream, an AI...

Baptista Research

Workday’s Hidden Growth Engine: Why 70% of Customers Can’t Stop Using Its AI!

Workday, Inc. announced its second quarter fiscal year 2026 results, highlighting a mixed bag of financial performance, product innovation, and...

Baptista Research

Workday Inc.: Will Its WorkdayGO Initiatives Help to Quickly Modernize & Streamline The Enterprise Functions?

Workday Inc. reported a robust first quarter of fiscal year 2026, demonstrating solid growth in key financial metrics and notable advancements in...

Baptista Research

Quiddity Leaderboard S&P 500 Jun 24 Rebal: Many Intra-Review Changes Possible Due to M&A, Spin-Offs

The SP500 will to see up to 4 intra-review changes before the June 2024 rebal. 3 near certain. The interesting ones? Two SP600 deletions due to...

Travis Lundy

Quiddity Leaderboard S&P 500 Mar 24: Big Index Flows Possible for Workday and KKR

A new Quiddity Leaderboard for S&P500 Index Rebal predictions. We like Workday against a basket of peers, based on our expectation of US$6bn+ net...

Travis Lundy

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