Couchbase (NASDAQ:BASE) Earns “Buy” Rating from Needham & Company LLC

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 35.38% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Truist Financial began coverage on shares of Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Morgan Stanley cut their price objective on Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Barclays boosted their price target on shares of Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. DA Davidson reiterated a “buy” rating and set a $25.00 price objective on shares of Couchbase in a research report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $21.00 target price on shares of Couchbase in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Trading Down 1.8 %

NASDAQ BASE opened at $16.25 on Wednesday. The firm’s 50 day simple moving average is $16.90 and its 200 day simple moving average is $17.02. The firm has a market capitalization of $850.66 million, a price-to-earnings ratio of -10.16 and a beta of 0.81. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. On average, equities research analysts forecast that Couchbase will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In other Couchbase news, SVP Margaret Chow sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the transaction, the senior vice president now owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory N. Henry sold 3,853 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.14, for a total transaction of $58,334.42. Following the sale, the chief financial officer now owns 336,679 shares of the company’s stock, valued at $5,097,320.06. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock worth $950,915 in the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of hedge funds have recently modified their holdings of BASE. Vanguard Group Inc. increased its stake in shares of Couchbase by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company’s stock worth $79,916,000 after purchasing an additional 164,563 shares in the last quarter. Hood River Capital Management LLC raised its stake in Couchbase by 38.2% in the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after purchasing an additional 756,394 shares in the last quarter. EVR Research LP lifted its holdings in shares of Couchbase by 2.0% during the 4th quarter. EVR Research LP now owns 2,590,000 shares of the company’s stock worth $40,378,000 after acquiring an additional 50,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in Couchbase by 26.8% during the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock worth $32,569,000 after purchasing an additional 441,770 shares during the last quarter. Finally, Wasatch Advisors LP lifted its position in Couchbase by 72.0% in the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock worth $26,554,000 after buying an additional 712,936 shares during the last quarter. Institutional investors 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.