Robert W. Baird Cuts Couchbase (NASDAQ:BASE) Price Target to $27.00

Couchbase (NASDAQ:BASE) had its target price trimmed by Robert W. Baird from $32.00 to $27.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on BASE. Royal Bank of Canada lowered their price objective on shares of Couchbase from $35.00 to $31.00 and set an outperform rating for the company in a research report on Thursday, June 6th. Piper Sandler Companies assumed coverage on Couchbase in a report on Friday, August 16th. They issued an overweight rating and a $22.00 price target for the company. Guggenheim restated a buy rating and set a $30.00 price objective on shares of Couchbase in a report on Tuesday, June 25th. DA Davidson decreased their target price on Couchbase from $35.00 to $30.00 and set a buy rating for the company in a research report on Friday, June 7th. Finally, UBS Group assumed coverage on Couchbase in a research report on Wednesday, May 22nd. They set a neutral rating and a $31.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $22.93.

Couchbase Stock Performance

Shares of BASE stock opened at $15.85 on Thursday. The stock has a 50 day moving average price of $18.22 and a 200 day moving average price of $22.29. The firm has a market capitalization of $797.41 million, a P/E ratio of -9.66 and a beta of 0.61. Couchbase has a 52-week low of $14.12 and a 52-week high of $32.00.

Couchbase (NASDAQ:BASE) last released its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the company earned ($0.44) earnings per share. As a group, sell-side analysts forecast that Couchbase will post -1.45 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gregory N. Henry sold 3,982 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $16.52, for a total value of $65,782.64. Following the sale, the chief financial officer now directly owns 393,060 shares in the company, valued at approximately $6,493,351.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Gregory N. Henry sold 3,982 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $16.52, for a total transaction of $65,782.64. Following the transaction, the chief financial officer now directly owns 393,060 shares of the company’s stock, valued at $6,493,351.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeff Epstein sold 7,277 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $20.10, for a total value of $146,267.70. Following the sale, the director now owns 28,027 shares of the company’s stock, valued at approximately $563,342.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,987 shares of company stock worth $668,568. 16.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Couchbase by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after purchasing an additional 227,828 shares during the last quarter. EVR Research LP increased its stake in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after purchasing an additional 179,585 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Couchbase by 7.8% in the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock worth $29,762,000 after buying an additional 118,372 shares during the last quarter. Pembroke Management LTD lifted its stake in shares of Couchbase by 18.1% during the second quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock worth $14,788,000 after buying an additional 123,927 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Couchbase during the first quarter valued at $9,059,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Couchbase

Couchbase, Inc provides cloud database platform for enterprise applications in the United States and internationally. Its database works in multiple configurations, ranging from cloud to multi- or hybrid-cloud to on-premise environments to the edge. The company offers Couchbase Capella, an automated and secure Database-as-a-Service that simplifies database management by deploying, managing, and operating Couchbase Server across cloud environments; and Couchbase Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++ that allows for a various array of data manipulation functions.