Couchbase (NASDAQ:BASE) Given Neutral Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Couchbase (NASDAQ:BASE) in a research note released on Friday morning,Benzinga reports. The firm currently has a $24.50 price target on the stock, up from their prior price target of $22.00.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley raised their price target on Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Couchbase in a research report on Wednesday, June 4th. Piper Sandler increased their target price on shares of Couchbase from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. DA Davidson reiterated a “neutral” rating and issued a $24.50 target price (down previously from $25.00) on shares of Couchbase in a research note on Friday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $24.50 target price (up previously from $20.00) on shares of Couchbase in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Couchbase currently 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. The company has a market cap of $1.32 billion, a P/E ratio of -17.88 and a beta of 0.82. The stock’s 50-day moving average is $17.95 and its 200-day moving average is $16.81. Couchbase has a 52-week low of $12.78 and a 52-week high of $25.16.

Couchbase (NASDAQ:BASE) last issued 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. The company had revenue of $56.52 million for the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. As a group, equities analysts predict that Couchbase will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Huw Owen sold 15,938 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the sale, the senior vice president now 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 SEC, which is accessible through this link. Also, Director Lynn M. Christensen sold 7,933 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $158,739.33. Following the sale, the director now directly owns 11,987 shares of the company’s stock, valued at approximately $239,859.87. The trade was a 39.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,904 shares of company stock worth $622,343 over the last quarter. Company insiders own 14.80% of the company’s stock.

Institutional Trading of Couchbase

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Couchbase by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company’s stock worth $79,916,000 after buying an additional 164,563 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Couchbase by 38.2% during the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock worth $42,693,000 after buying an additional 756,394 shares in the last quarter. EVR Research LP increased its holdings in shares of Couchbase by 2.0% during the fourth quarter. EVR Research LP now owns 2,590,000 shares of the company’s stock worth $40,378,000 after buying an additional 50,000 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Couchbase by 26.8% during the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock worth $32,569,000 after buying an additional 441,770 shares in the last quarter. Finally, Wasatch Advisors LP increased its holdings 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 worth $26,554,000 after buying an additional 712,936 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.