Zacks Investment Research Upgrades Couchbase (NASDAQ:BASE) to “Hold”

Couchbase (NASDAQ:BASEGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Couchbase Inc. provides software solutions. The Company offers cloud database for business applications on platform which delivers unmatched versatility, performance, scalability and financial value across cloud, on-premises, hybrid, distributed cloud and edge computing deployments. Couchbase Inc. is based in Santa Clara, United States. “

Several other research analysts have also weighed in on the company. Stifel Nicolaus cut their target price on Couchbase from $41.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 10th. The Goldman Sachs Group cut their target price on Couchbase from $37.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 14th. Royal Bank of Canada cut their price objective on Couchbase from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, March 10th. William Blair reissued an “outperform” rating on shares of Couchbase in a research report on Thursday, March 10th. Finally, Morgan Stanley cut their price objective on Couchbase from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.25.

Shares of BASE stock traded down $0.43 during mid-day trading on Tuesday, hitting $13.81. 612,887 shares of the company’s stock were exchanged, compared to its average volume of 473,171. Couchbase has a fifty-two week low of $12.72 and a fifty-two week high of $52.26. The stock has a 50-day simple moving average of $17.39 and a two-hundred day simple moving average of $24.06.

Couchbase (NASDAQ:BASEGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. The business had revenue of $35.06 million for the quarter, compared to analyst estimates of $34.00 million. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, analysts anticipate that Couchbase will post -1.64 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in BASE. First Manhattan Co. acquired a new position in Couchbase in the third quarter worth about $31,000. Penserra Capital Management LLC acquired a new position in Couchbase in the third quarter worth about $38,000. Citigroup Inc. acquired a new position in Couchbase in the third quarter worth about $49,000. Metropolitan Life Insurance Co NY acquired a new position in Couchbase in the third quarter worth about $95,000. Finally, New York State Common Retirement Fund acquired a new position in Couchbase in the third quarter valued at approximately $106,000. 62.93% of the stock is currently owned by institutional investors and hedge funds.

About Couchbase (Get Rating)

Couchbase, Inc provides a database for enterprise applications worldwide. 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 Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++, that allows for a various array of data manipulation functions; and Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments.

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