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>Yelp Inc. reported solid financial performance in the first quarter of 2025, achieving an 8% year-over-year increase in net revenue to $359 million, exceeding their expectations.</li><li>This growth was driven by the continued strength in Yelp’s services business, contrasting with challenges faced in the restaurant, retail, and othercategories (RR&O) which saw a 3% revenue decline year-over-year.</li><li>Profitability saw significant improvements with a net income margin expansion by 3 percentage points and an adjusted EBITDA margin increase by 4 percentage points compared to the same quarter last year.</li></ul>

Yelp Inc. reported solid financial performance in the first quarter of 2025, achieving an 8% year-over-year increase in net revenue to $359 million, exceeding their expectations.This growth was driven by the continued strength in Yelp’s services business, contrasting with challenges faced in the restaurant, retail, and othercategories (RR&O) which saw a 3% revenue decline year-over-year.Profitability saw significant improvements with a net income margin expansion by 3 percentage points and an adjusted EBITDA margin increase by 4 percentage points compared to the same quarter last year.

Yelp Inc.: An Enhanced Advertiser Value Proposition & Critical Growth Levers!

<ul><li>Yelp Inc presented a mixed financial performance in its fourth quarter and full-year 2024 results.</li><li>The company showed significant progress in specific strategic areas while navigating challenges in others.</li><li>In 2024, Yelp's net revenue increased by 6% year-over-year to $1.41 billion, supported by disciplined expense management efforts.</li></ul>

Yelp Inc presented a mixed financial performance in its fourth quarter and full-year 2024 results.The company showed significant progress in specific strategic areas while navigating challenges in others.In 2024, Yelp's net revenue increased by 6% year-over-year to $1.41 billion, supported by disciplined expense management efforts.

Yelp Inc.: 5 Major Roadblocks In Its Path Of 2025 & Beyond!

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>Our regression analysis suggests YELP’s 2025 revenue could be as high as $1,568 million if the statistical relationship with META holds.</li><li>In contrast, consensus for YELP is $1,480 million, while guidance is $1,470-1,485 million.</li><li>Our regression analysis with GOOG suggests a more modest revenue estimate of $1,499 million for 2025, which is also above the guide.</li></ul>

Our regression analysis suggests YELP’s 2025 revenue could be as high as $1,568 million if the statistical relationship with META holds.In contrast, consensus for YELP is $1,480 million, while guidance is $1,470-1,485 million.Our regression analysis with GOOG suggests a more modest revenue estimate of $1,499 million for 2025, which is also above the guide.

Yelp, Inc. - WTR Revenue Estimates Above Consensus; Initiating Coverage

<ul><li>Yelp Inc.'s latest earnings report for the third quarter of 2024 presents a mixed picture with certain strong elements as well as some ongoing challenges.</li><li>On the positive side, Yelp achieved record net revenue of $360 million, reflecting a 4% increase year-over-year.</li><li>The company successfully maintained strong profitability with a net income margin of 11% and an adjusted EBITDA margin of 28%.</li></ul>

Yelp Inc.'s latest earnings report for the third quarter of 2024 presents a mixed picture with certain strong elements as well as some ongoing challenges.On the positive side, Yelp achieved record net revenue of $360 million, reflecting a 4% increase year-over-year.The company successfully maintained strong profitability with a net income margin of 11% and an adjusted EBITDA margin of 28%.

Yelp Inc.: The Acquisition of RepairPal & Auto Services Expansion! - Major Drivers

<ul><li>Yelp Inc. recorded a mixed performance in the second quarter of 2024, highlighting several strategic initiatives and financial metrics that provide a nuanced picture of its current positioning and future prospects.</li><li>The company achieved a 6% year-over-year increase in net revenue, amounting to $357 million, surpassing its own forecast marginally.</li><li>This growth was underpinned by the introduction of over 20 new features and updates, emphasizing Yelp’s continued focus on a product-led strategy.</li></ul>

Yelp Inc. recorded a mixed performance in the second quarter of 2024, highlighting several strategic initiatives and financial metrics that provide a nuanced picture of its current positioning and future prospects.The company achieved a 6% year-over-year increase in net revenue, amounting to $357 million, surpassing its own forecast marginally.This growth was underpinned by the introduction of over 20 new features and updates, emphasizing Yelp’s continued focus on a product-led strategy.

Yelp Inc.: Will The Streamlined AI Implementations in AdTech & Search Pay Off? - Major Drivers

United States

Yelp Inc. operates a social networking, user review, and local search web site. The Company provides the site as a guide for online search capabilities for its visitors to find reviews and details about local businesses. Yelp provides listings for businesses throughout the United States and Canada.

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Yelp Inc (YELP US)

Yelp Inc.: An Enhanced Advertiser Value Proposition & Critical Growth Levers!

Yelp Inc. reported solid financial performance in the first quarter of 2025, achieving an 8% year-over-year increase in net revenue to $359...

Baptista Research

Yelp Inc.: 5 Major Roadblocks In Its Path Of 2025 & Beyond!

Yelp Inc presented a mixed financial performance in its fourth quarter and full-year 2024 results. The company showed significant progress in...

Baptista Research

Yelp, Inc. - WTR Revenue Estimates Above Consensus; Initiating Coverage

Our regression analysis suggests YELP’s 2025 revenue could be as high as $1,568 million if the statistical relationship with META holds.

Water Tower Research

Yelp Inc.: The Acquisition of RepairPal & Auto Services Expansion! - Major Drivers

Yelp Inc.'s latest earnings report for the third quarter of 2024 presents a mixed picture with certain strong elements as well as some ongoing...

Baptista Research

Yelp Inc.: Will The Streamlined AI Implementations in AdTech & Search Pay Off? - Major Drivers

Yelp Inc. recorded a mixed performance in the second quarter of 2024, highlighting several strategic initiatives and financial metrics that...

Baptista Research

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