Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

The Greece government is running out of time and money. 320 billion euros is the size of their&nbsp;debt mountain. Money enough to carry out 15 Apollo moon landings!It owes 6.74 B euros in June (IMF and short-term bills), 5.95 B euros in July (IMF, ECB and short-term bills) and 4.38 B euros in August (IMF, ECB and short-term bills).They may default on their loans and reach the much dreaded&nbsp;<a href="http://lexicon.ft.com/Term?term=Grexit" target="_blank">Grexit</a>&nbsp;from Euro. Unless they find saviours and implement serious reforms&nbsp;quickly, the&nbsp;Greeks&nbsp;will come back to drachma, face inflation, unemployment and an abysmal fall in their GDP.While most industries are swimming against the tide to survive, the tourism industry is a proud exception. Greece is witnessing a summer flooded&nbsp;with tourists. Flights&nbsp;are full, beaches are bustling and hotels are&nbsp;full capacity. Will the inevitable debt storm&nbsp;end the vacation for the tourism industry? Let us deep dive.

The Greece government is running out of time and money. 320 billion euros is the size of their&nbsp;debt mountain. Money enough to carry out 15 Apollo moon landings!It owes 6.74 B euros in June (IMF and short-term bills), 5.95 B euros in July (IMF, ECB and short-term bills) and 4.38 B euros in August (IMF, ECB and short-term bills).They may default on their loans and reach the much dreaded&nbsp;Grexit&nbsp;from Euro. Unless they find saviours and implement serious reforms&nbsp;quickly, the&nbsp;Greeks&nbsp;will come back to drachma, face inflation, unemployment and an abysmal fall in their GDP.While most industries are swimming against the tide to survive, the tourism industry is a proud exception. Greece is witnessing a summer flooded&nbsp;with tourists. Flights&nbsp;are full, beaches are bustling and hotels are&nbsp;full capacity. Will the inevitable debt storm&nbsp;end the vacation for the tourism industry? Let us deep dive.

Greece's Travel & Tourism industry shines amidst crisis

The shared economy companies&nbsp;are threatened by laws and regulation. But then, which <a href="http://en.wikipedia.org/wiki/Disruptive_innovation" target="_blank">disruptive</a> businesses are not? Uber and Airbnb are likely to be darlings of Wall Street if they decide to go public. But will they live up to the hype? Possibly in the long run, some things could go downhill. But with access to capital, low debts and high reach, these companies are likely to cover their tracks and stay on top in the near future. But skeptics would compare these possible high profile IPOs to <a href="http://www.forbes.com/sites/joanlappin/2013/11/11/two-years-after-its-busted-ipo-groupon-still-cant-turn-a-profit/" target="_blank">Groupon</a> and <a href="http://www.cnbc.com/id/102020026" target="_blank">Alibaba</a> which saw decline in shares after going public. Time will tell.

The shared economy companies&nbsp;are threatened by laws and regulation. But then, which disruptive businesses are not? Uber and Airbnb are likely to be darlings of Wall Street if they decide to go public. But will they live up to the hype? Possibly in the long run, some things could go downhill. But with access to capital, low debts and high reach, these companies are likely to cover their tracks and stay on top in the near future. But skeptics would compare these possible high profile IPOs to Groupon and Alibaba which saw decline in shares after going public. Time will tell.

Will the 'shared economy' pioneers be the next Twitter or Facebook?

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jst-group" target="_blank" data-smartkarma-citation="entities:39885:1" rel="noopener">JST Group (6687 HK)</a> is China’s largest e-commerce SaaS ERP provider. It is seeking to raise HK$2,086 million (US$268 million).</li>
<li>I previously discussed the IPO in <a href="https://www.smartkarma.com/insights/jst-group-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:205203" rel="noopener">JST Group IPO: The Investment Case</a>. </li>
<li>In this note, I present my forecasts and valuation. My analysis suggests that the IPO price is attractive in the context of the revenue growth.</li>
</ul>



JST Group (6687 HK) is China’s largest e-commerce SaaS ERP provider. It is seeking to raise HK$2,086 million (US$268 million).
I previously discussed the IPO in JST Group IPO: The Investment Case. 
In this note, I present my forecasts and valuation. My analysis suggests that the IPO price is attractive in the context of the revenue growth.


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>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?

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)

Greece's Travel & Tourism industry shines amidst crisis

The Greece government is running out of time and money. 320 billion euros is the size of their debt mountain. Money enough to carry out 15 Apollo...

Ishita Jain

Will the 'shared economy' pioneers be the next Twitter or Facebook?

The shared economy companies are threatened by laws and regulation. But then, which disruptive businesses are not? Uber and Airbnb are likely to be...

Ishita Jain

JST Group (6687 HK): Valuation Insights

In this note, I present my forecasts and valuation. My analysis suggests that the IPO price is attractive in the context of the revenue growth.

Arun George

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

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