Couchbase (NASDAQ:BASE) Reaches New 12-Month High Following Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) reached a new 52-week high on Saturday after Barclays raised their price target on the stock from $22.00 to $24.50. Barclays currently has an overweight rating on the stock. Couchbase traded as high as $25.16 and last traded at $24.49, with a volume of 13423326 shares trading hands. The stock had previously closed at $18.93.

A number of other equities analysts have also weighed in on BASE. Guggenheim reduced their price objective on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Rosenblatt Securities reiterated a “neutral” rating and set a $24.50 price objective (up previously from $22.00) on shares of Couchbase in a research note on Friday. UBS Group lifted their price objective on Couchbase from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. William Blair reiterated a “market perform” rating on shares of Couchbase in a research note on Friday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $24.50 price objective (up previously from $20.00) 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.56.

Insiders Place Their Bets

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was 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 directly owns 427,699 shares in the company, valued at approximately $6,599,395.57. The trade was a 3.59% decrease in their position. 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 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 approximately $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. In the last three months, insiders sold 34,904 shares of company stock worth $622,343. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC boosted its holdings in shares of Couchbase by 20.5% during the 1st 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. Bank of New York Mellon Corp boosted its holdings in shares of Couchbase by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 135,495 shares of the company’s stock worth $2,134,000 after purchasing an additional 696 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Couchbase by 22.2% during the 4th 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 last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Couchbase by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after purchasing an additional 807 shares during the last quarter. Finally, Ceera Investments LLC boosted its holdings in shares of Couchbase by 3.0% during the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after purchasing an additional 960 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Trading Up 29.4%

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -17.88 and a beta of 0.82. The company has a fifty day moving average price of $17.95 and a two-hundred day moving average price of $16.81.

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

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.