Royal Bank of Canada Cuts Couchbase (NASDAQ:BASE) Price Target to $25.00

Couchbase (NASDAQ:BASE – Get Rating) had its target price decreased by equities research analysts at Royal Bank of Canada from $27.00 to $25.00 in a research note issued to investors on Monday, The Fly reports. Royal Bank of Canada’s price target indicates a potential upside of 60.98% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reduced their target price on shares of Couchbase from $41.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 10th. The Goldman Sachs Group dropped their target price on shares of Couchbase from $37.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 14th. Morgan Stanley lowered their price objective on shares of Couchbase from $22.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Robert W. Baird reduced their target price on shares of Couchbase from $50.00 to $35.00 in a research note on Thursday, March 10th. Finally, William Blair restated an “outperform” rating on shares of Couchbase in a research note on Thursday, March 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $27.50.

Shares of Couchbase stock opened at $15.53 on Monday. The firm has a 50-day simple moving average of $15.89 and a two-hundred day simple moving average of $20.23. Couchbase has a fifty-two week low of $11.68 and a fifty-two week high of $52.26.

Couchbase (NASDAQ:BASE – Get Rating) last announced its quarterly earnings data on Wednesday, March 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. The business had revenue of $35.06 million for the quarter, compared to analysts’ expectations of $34.00 million. The firm’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts predict that Couchbase will post -1.64 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in BASE. Metropolitan Life Insurance Co NY bought a new stake in shares of Couchbase in the first quarter valued at approximately $30,000. First Manhattan Co. bought a new position in Couchbase during the third quarter worth about $31,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Couchbase by 145.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,822 shares of the company’s stock valued at $32,000 after purchasing an additional 1,080 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Couchbase in the 3rd quarter valued at approximately $38,000. Finally, Citigroup Inc. acquired a new position in shares of Couchbase during the 3rd quarter worth approximately $49,000. Institutional investors own 62.93% of the company’s stock.

Couchbase Company Profile (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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