Couchbase (NASDAQ:BASE) Receives “Equal Weight” Rating from Wells Fargo & Company

Wells Fargo & Company reiterated their equal weight rating on shares of Couchbase (NASDAQ:BASE) in a report issued on Friday,Benzinga reports. The firm currently has a $24.50 price target on the stock, up from their prior price target of $20.00.

A number of other analysts have also weighed in on BASE. Barclays decreased their target price on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Couchbase in a report on Wednesday, June 4th. Morgan Stanley increased their price target 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. Guggenheim decreased their price target on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Robert W. Baird increased their price target on shares of Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. 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 company’s stock. Based on data from MarketBeat, the stock 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. The firm’s 50 day simple moving average is $17.95 and its 200 day simple moving average is $16.81. The firm has a market capitalization of $1.32 billion, a PE ratio of -17.88 and a beta of 0.82. Couchbase has a 1-year low of $12.78 and a 1-year high of $25.16.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share 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%. Couchbase’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) EPS. Research analysts forecast that Couchbase will post -1.48 earnings per share for the current year.

Insider Activity at Couchbase

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the stock in a transaction 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 $6,599,395.57. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lynn M. Christensen sold 7,933 shares of the stock in a transaction on Tuesday, June 17th. The shares were 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 $239,859.87. The trade was a 39.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,904 shares of company stock valued at $622,343. Insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Several institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP boosted its position in Couchbase by 60.7% during the 1st quarter. Woodline Partners LP now owns 17,069 shares of the company’s stock valued at $269,000 after buying an additional 6,446 shares during the period. Caxton Associates LLP purchased a new stake in Couchbase during the 1st quarter valued at $271,000. Goldman Sachs Group Inc. boosted its position in Couchbase by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 225,460 shares of the company’s stock valued at $3,551,000 after buying an additional 66,719 shares during the period. Petrus Trust Company LTA boosted its position in Couchbase by 36.6% during the 1st quarter. Petrus Trust Company LTA now owns 17,971 shares of the company’s stock valued at $283,000 after buying an additional 4,814 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Couchbase by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,848 shares of the company’s stock valued at $376,000 after buying an additional 1,487 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.