Couchbase (NASDAQ:BASE) Earns Outperform Rating from Analysts at Wedbush

Wedbush initiated coverage on shares of Couchbase (NASDAQ:BASE) in a report issued on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating and a $26.00 target price on the stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley cut their price target on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company reduced their target price on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Guggenheim restated a “buy” rating and issued a $30.00 price target on shares of Couchbase in a research note on Tuesday, June 25th. DA Davidson reduced their price objective on Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler decreased their price objective on Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Couchbase has an average rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Trading Up 1.8 %

NASDAQ BASE opened at $17.38 on Thursday. The stock has a fifty day simple moving average of $16.38 and a 200-day simple moving average of $19.75. The stock has a market cap of $874.39 million, a PE ratio of -10.60 and a beta of 0.59. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.44) EPS. Research analysts predict that Couchbase will post -1.5 EPS for the current year.

Insider Buying and Selling at Couchbase

In other news, SVP Margaret Chow sold 2,290 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $45,800.00. Following the completion of the sale, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at approximately $3,849,160. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Couchbase news, CEO Matthew M. Cain sold 8,953 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total transaction of $179,149.53. Following the transaction, the chief executive officer now directly owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Margaret Chow sold 2,290 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $20.00, for a total transaction of $45,800.00. Following the completion of the sale, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at $3,849,160. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,056 shares of company stock worth $538,135 over the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in Couchbase by 5.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after acquiring an additional 700 shares during the period. NBC Securities Inc. purchased a new position in Couchbase during the 1st quarter worth $26,000. Harbor Capital Advisors Inc. lifted its stake in shares of Couchbase by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after acquiring an additional 1,125 shares during the period. Swiss National Bank lifted its position in Couchbase by 2.3% in the first quarter. Swiss National Bank now owns 61,700 shares of the company’s stock valued at $1,623,000 after purchasing an additional 1,400 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Couchbase by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock worth $379,000 after purchasing an additional 1,865 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Couchbase Company Profile

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.