Couchbase (NASDAQ:BASE) Trading Up 5% – Here’s What Happened

Couchbase, Inc. (NASDAQ:BASE) rose 5% during mid-day trading on Friday . The company traded as high as $15.85 and last traded at $15.40. Approximately 400,129 shares traded hands during trading, a decline of 22% from the average daily volume of 510,288 shares. The stock had previously closed at $14.66.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada cut their price target on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Finally, Wells Fargo & Company cut their target price on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Price Performance

The firm’s fifty day moving average is $16.77 and its two-hundred day moving average is $16.61. The firm has a market cap of $814.53 million, a price-to-earnings ratio of -9.73 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The business had revenue of $54.92 million during the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. On average, equities analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In other Couchbase news, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the transaction, the senior vice president now directly owns 133,067 shares in the company, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Huw Owen sold 2,993 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.02, for a total value of $47,947.86. Following the completion of the sale, the senior vice president now directly owns 325,993 shares of the company’s stock, valued at approximately $5,222,407.86. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,455 shares of company stock worth $777,289. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Couchbase in the fourth quarter worth approximately $35,000. Summit Investment Advisors Inc. lifted its position in Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after buying an additional 807 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after buying an additional 759 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Couchbase during the 4th quarter valued at $112,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Couchbase during the 4th quarter valued at $165,000. 96.07% of the stock is owned by hedge funds and other 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.