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>Zscaler has moved deeper into AI security with its intent to acquire Symmetry Systems, a company focused on identity mapping, data access visibility, and access graph technology.</li><li>The timing is notable because Zscaler’s latest earnings discussion framed AI as a central growth pillar, with management highlighting rapid enterprise adoption of AI applications, nearly 1 trillion AI transactions processed in calendar 2025, and rising demand for tools that can govern AI prompts, agents, workloads, and data flows at scale.</li><li>Symmetry Systems adds a specific missing layer: visibility into how human identities, non-human identities, applications, data stores, SaaS tools, cloud services, and AI systems connect across the enterprise.</li></ul>

Zscaler has moved deeper into AI security with its intent to acquire Symmetry Systems, a company focused on identity mapping, data access visibility, and access graph technology.The timing is notable because Zscaler’s latest earnings discussion framed AI as a central growth pillar, with management highlighting rapid enterprise adoption of AI applications, nearly 1 trillion AI transactions processed in calendar 2025, and rising demand for tools that can govern AI prompts, agents, workloads, and data flows at scale.Symmetry Systems adds a specific missing layer: visibility into how human identities, non-human identities, applications, data stores, SaaS tools, cloud services, and AI systems connect across the enterprise.

Zscaler Acquisition Shock: Could Symmetry Systems Supercharge AI Security?