Independent research on the U.S. markets, Baptista Research

Baptista Research

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.

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>The company reported its second quarter 2026 financial results with gross merchandise volume (GMV) rising 14% year-over-year to $22.4 billion and revenues increasing 14% to $3.13 billion, surpassing consensus expectations and the high end of its guidance across key metrics.</li><li>Non-GAAP operating income grew 16% to $893 million, while non-GAAP earnings per share advanced 17% to $1.60.</li><li>Growth was largely driven by strategic priorities including focused categories, consumer-to-consumer (C2C) sales, and recommerce (preowned and refurbished goods), which together accounted for over 70% of total GMV and individually grew over 20%.</li></ul>

The company reported its second quarter 2026 financial results with gross merchandise volume (GMV) rising 14% year-over-year to $22.4 billion and revenues increasing 14% to $3.13 billion, surpassing consensus expectations and the high end of its guidance across key metrics.Non-GAAP operating income grew 16% to $893 million, while non-GAAP earnings per share advanced 17% to $1.60.Growth was largely driven by strategic priorities including focused categories, consumer-to-consumer (C2C) sales, and recommerce (preowned and refurbished goods), which together accounted for over 70% of total GMV and individually grew over 20%.

eBay & Depop — A $1.4 Billion Push To Build A Recommerce Powerhouse!

Ebay Inc

eBay & Depop — A $1.4 Billion Push To Build A Recommerce Powerhouse!