Piper Sandler Raises Couchbase (NASDAQ:BASE) Price Target to $22.00

Couchbase (NASDAQ:BASE) had its price target raised by Piper Sandler from $21.00 to $22.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 35.38% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird decreased their target price on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Guggenheim reissued a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. Barclays lifted their target price on Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, DA Davidson reiterated a “buy” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Couchbase currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.13.

Couchbase Stock Performance

Shares of Couchbase stock opened at $16.25 on Wednesday. The stock has a market capitalization of $850.66 million, a PE ratio of -10.16 and a beta of 0.81. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The stock has a 50 day moving average price of $16.90 and a two-hundred day moving average price of $17.02.

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

Insider Transactions at Couchbase

In other news, CFO Gregory N. Henry sold 9,820 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.62, for a total transaction of $173,028.40. Following the completion of the transaction, the chief financial officer now directly owns 304,555 shares of the company’s stock, valued at $5,366,259.10. This represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 54,883 shares of company stock worth $950,915 in the last ninety days. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Couchbase by 242.9% in the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock valued at $1,218,000 after buying an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Couchbase by 33.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after purchasing an additional 93,301 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Couchbase by 169.8% during the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after purchasing an additional 120,975 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Couchbase in the third quarter worth about $772,000. Finally, 272 Capital LP bought a new stake in shares of Couchbase in the third quarter valued at approximately $3,720,000. 96.07% of the stock is owned by institutional investors.

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.