Barclays Issues Positive Forecast for Couchbase (NASDAQ:BASE) Stock Price

Couchbase (NASDAQ:BASE) had its target price lifted by Barclays from $22.00 to $24.50 in a report issued on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on BASE. William Blair restated a “market perform” rating on shares of Couchbase in a research report on Friday. Robert W. Baird increased their price objective on shares of Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Wells Fargo & Company reiterated an “equal weight” rating and set a $24.50 price objective (up from $20.00) on shares of Couchbase in a research report on Friday. Piper Sandler increased their price objective on shares of Couchbase from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $22.00 price objective on shares of Couchbase in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Couchbase presently has a consensus rating of “Hold” and an average price target of $22.56.

Couchbase Stock Performance

Shares of NASDAQ BASE opened at $24.49 on Friday. Couchbase has a 52-week low of $12.78 and a 52-week high of $25.16. The firm has a 50 day moving average price of $17.95 and a two-hundred day moving average price of $16.81. The stock has a market cap of $1.32 billion, a P/E ratio of -17.88 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The firm had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $55.59 million. During the same period in the prior year, the company posted ($0.10) EPS. The company’s revenue was up 10.1% on a year-over-year basis. Analysts predict that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $15.43, for a total value of $245,923.34. Following the transaction, the senior vice president now directly owns 427,699 shares of the company’s stock, valued at approximately $6,599,395.57. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the transaction, the chief financial officer now directly owns 94,780 shares in the company, valued at $1,848,210. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,904 shares of company stock valued at $622,343 over the last ninety days. 14.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted 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 valued at $79,916,000 after buying an additional 164,563 shares in the last quarter. Hood River Capital Management LLC lifted its stake in shares of 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 buying an additional 756,394 shares in the last quarter. EVR Research LP lifted its stake in shares of Couchbase by 2.0% in the fourth quarter. EVR Research LP now owns 2,590,000 shares of the company’s stock valued at $40,378,000 after buying an additional 50,000 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Couchbase by 26.8% in the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock valued at $32,569,000 after buying an additional 441,770 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of Couchbase by 72.0% during the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after purchasing an additional 712,936 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

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.