Couchbase (NASDAQ:BASE) Downgraded by Piper Sandler to “Hold”

Couchbase (NASDAQ:BASE) was downgraded by investment analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $24.50 price objective on the stock, up from their previous price objective of $20.00. Piper Sandler’s price target would suggest a potential downside of 0.33% from the company’s previous close.

BASE has been the subject of a number of other research reports. Needham & Company LLC downgraded shares of Couchbase from a “moderate buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Friday. Morgan Stanley boosted their target price on shares of Couchbase from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 4th. The Goldman Sachs Group lowered their target price on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. UBS Group upped their price target on Couchbase from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Finally, Guggenheim dropped their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.94.

Couchbase Stock Up 0.4%

BASE stock opened at $24.58 on Friday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -17.94 and a beta of 0.82. Couchbase has a twelve month low of $12.78 and a twelve month high of $25.16. The business’s fifty day simple moving average is $18.14 and its two-hundred day simple moving average is $16.87.

Couchbase (NASDAQ:BASE) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. Research analysts expect that Couchbase will post -1.48 EPS for the current year.

Insider Buying and Selling at Couchbase

In other news, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $15.43, for a total value of $245,923.34. Following the sale, the senior vice president now directly owns 427,699 shares of the company’s stock, valued at $6,599,395.57. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William Robert Carey sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total value of $44,850.00. Following the sale, the chief financial officer now owns 94,780 shares of the company’s stock, valued at $1,848,210. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,904 shares of company stock valued at $622,343. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Couchbase in the 4th quarter worth $35,000. AlphaQuest LLC increased its position in Couchbase by 20.5% during the first quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after purchasing an additional 617 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after purchasing an additional 807 shares during the last quarter. Finally, CWM LLC raised its position in shares of Couchbase by 272.9% during the 1st quarter. CWM LLC now owns 4,191 shares of the company’s stock valued at $66,000 after buying an additional 3,067 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.