Couchbase (NASDAQ:BASE) Given “Neutral” Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Couchbase (NASDAQ:BASE) in a report released on Friday morning,Benzinga reports. The firm currently has a $24.50 price objective on the stock, up from their previous price objective of $20.00.

Several other equities research analysts have also commented on BASE. Royal Bank Of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of Couchbase in a research report on Wednesday, June 4th. Morgan Stanley upped their price objective on Couchbase from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Robert W. Baird upped their target price on Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Guggenheim reduced their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $22.00 target price on shares of Couchbase in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Couchbase has a consensus rating of “Hold” and an average price target of $22.56.

Couchbase Trading Up 29.4%

Couchbase stock opened at $24.49 on Friday. Couchbase has a 12 month low of $12.78 and a 12 month high of $25.16. The stock’s 50 day simple moving average is $17.95 and its two-hundred day simple moving average is $16.81. The firm has a market cap of $1.32 billion, a PE ratio of -17.88 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The business had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Couchbase will post -1.48 EPS for the current year.

Insider Activity at Couchbase

In related news, SVP Huw Owen sold 15,938 shares of the stock in a transaction 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 completion of 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 represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Robert Carey sold 2,300 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total value of $44,850.00. Following the completion of the transaction, the chief financial officer now directly owns 94,780 shares of the company’s stock, valued at approximately $1,848,210. This represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,904 shares of company stock valued at $622,343. 14.80% of the stock is owned by insiders.

Institutional Trading of Couchbase

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC increased its stake in shares of Couchbase by 20.5% in the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after acquiring an additional 617 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Couchbase by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 135,495 shares of the company’s stock worth $2,134,000 after acquiring an additional 696 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Couchbase by 22.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after acquiring an additional 759 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of 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 acquiring an additional 807 shares during the last quarter. Finally, Ceera Investments LLC increased its stake in shares of Couchbase by 3.0% in the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after acquiring an additional 960 shares during the last quarter. 96.07% of the stock is 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.