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>Ziff Davis reported its first-quarter 2025 results, revealing performance facets that present both opportunities and challenges for potential investors.</li><li>The company posted revenues of $328.6 million, reflecting a 4.5% year-over-year growth from $314.5 million in the same period last year.</li><li>Adjusted EBITDA came in slightly lower at $100.2 million, compared to $100.8 million previously, maintaining a robust margin of 30.5%.</li></ul>

Ziff Davis reported its first-quarter 2025 results, revealing performance facets that present both opportunities and challenges for potential investors.The company posted revenues of $328.6 million, reflecting a 4.5% year-over-year growth from $314.5 million in the same period last year.Adjusted EBITDA came in slightly lower at $100.2 million, compared to $100.8 million previously, maintaining a robust margin of 30.5%.

Ziff Davis Breaks Out With 12% Ad Surge—Can CNET & IGN Keep the Momentum Alive?

<ul><li>Ziff Davis concluded the fourth quarter and fiscal year 2024 with mixed financial results, highlighting both achievements and challenges.</li><li>The company’s revenue for the fourth quarter grew by 5.9% to $412.8 million, reflecting a respectable increase compared to the previous year's figures.</li><li>However, the revenue fell short of the company’s own expectations, primarily due to underperformance in their Humble Games publishing segment and lower-than-expected sales in the connectivity segment.</li></ul>

Ziff Davis concluded the fourth quarter and fiscal year 2024 with mixed financial results, highlighting both achievements and challenges.The company’s revenue for the fourth quarter grew by 5.9% to $412.8 million, reflecting a respectable increase compared to the previous year's figures.However, the revenue fell short of the company’s own expectations, primarily due to underperformance in their Humble Games publishing segment and lower-than-expected sales in the connectivity segment.

Ziff Davis: Will Its Latest Innovations In Digital & Subscription Offerings Provide Sustainable Growth In The Long Term?

<ul><li>Ziff Davis reported its financial performance for the third quarter of 2024, highlighting several strategic advancements and financial outcomes.</li><li>Total revenue grew by 3.7% compared to Q3 2023, reaching $353.6 million.</li><li>Adjusted EBITDA increased more significantly, by 9.6%, reflecting a focus on operational efficiency and cost management that resulted in a higher adjusted EBITDA margin of 35.3%.</li></ul>

Ziff Davis reported its financial performance for the third quarter of 2024, highlighting several strategic advancements and financial outcomes.Total revenue grew by 3.7% compared to Q3 2023, reaching $353.6 million.Adjusted EBITDA increased more significantly, by 9.6%, reflecting a focus on operational efficiency and cost management that resulted in a higher adjusted EBITDA margin of 35.3%.

Ziff Davis: These Are The 6 Biggest Factors Impacting Its Performance In 2025 &Beyond! - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 3 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> and <a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> were finally added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> and there is huge size to trade in the stocks.</li>
<li>There will also be big buying in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> following a float increase driven by <a href="https://www.smartkarma.com/entities/berkshire-hathaway-inc-cl-a" target="_blank" data-smartkarma-citation="entities:1044:1" rel="noopener">Berkshire Hathaway Inc Cl A (BRK/A US)</a> selling last quarter.</li>
</ul>


There are 3 changes for the S&amp;P 500 INDEX, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.

Dell Technologies (DELL US) and Palantir Technologies (PLTR US) were finally added to the S&amp;P 500 INDEX (SPX INDEX) and there is huge size to trade in the stocks.
There will also be big buying in Apple (AAPL US) following a float increase driven by Berkshire Hathaway Inc Cl A (BRK/A US) selling last quarter.


S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

<ul><li>Ziff Davis's financial performance in the second quarter of 2024 reflects a complex mix of challenges and strategic maneuvers as the company navigates through a tepid economic landscape.</li><li>The Q2 results were somewhat disappointing, particularly given the downturn in June revenues, which declined by 3%, contributing to an overall quarterly revenue drop of 1.6% year-over-year.</li><li>This dip contrasts with the previous quarter's growth of 2.4%, indicating an unpredicted volatility in the company's financial performance.</li></ul>

Ziff Davis's financial performance in the second quarter of 2024 reflects a complex mix of challenges and strategic maneuvers as the company navigates through a tepid economic landscape.The Q2 results were somewhat disappointing, particularly given the downturn in June revenues, which declined by 3%, contributing to an overall quarterly revenue drop of 1.6% year-over-year.This dip contrasts with the previous quarter's growth of 2.4%, indicating an unpredicted volatility in the company's financial performance.

Ziff Davis Inc.: Diversification Through Strategic Acquisitions Like CNET! - Major Drivers

United States

Ziff Davis, Inc. operates as a digital media and Internet company. The Company provides portfolio which includes brands in technology, entertainment, shopping, health, cybersecurity, and martech. Ziff Davis serves customers worldwide.

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Ziff Davis (ZD US)

Ziff Davis Breaks Out With 12% Ad Surge—Can CNET & IGN Keep the Momentum Alive?

Ziff Davis reported its first-quarter 2025 results, revealing performance facets that present both opportunities and challenges for potential...

Baptista Research

Ziff Davis: Will Its Latest Innovations In Digital & Subscription Offerings Provide Sustainable Growth In The Long Term?

Ziff Davis concluded the fourth quarter and fiscal year 2024 with mixed financial results, highlighting both achievements and challenges. The...

Baptista Research

Ziff Davis: These Are The 6 Biggest Factors Impacting Its Performance In 2025 &Beyond! - Major Drivers

Ziff Davis reported its financial performance for the third quarter of 2024, highlighting several strategic advancements and financial...

Baptista Research

S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

There are 3 changes for the SnP500, 8 for the SnP400 and 15 for the SnP600 Index. Dell and Palantir have finally been added. There is huge size to...

Brian Freitas

Ziff Davis Inc.: Diversification Through Strategic Acquisitions Like CNET! - Major Drivers

Ziff Davis's financial performance in the second quarter of 2024 reflects a complex mix of challenges and strategic maneuvers as the company...

Baptista Research

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