Couchbase (NASDAQ:BASE) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Couchbase (NASDAQ:BASE) in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a $22.00 price target on the stock.

Several other analysts also recently commented on BASE. Royal Bank Of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Couchbase in a research report on Wednesday, June 4th. Guggenheim cut their price objective on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Rosenblatt Securities reissued a “neutral” rating and set a $24.50 price objective (up from $22.00) on shares of Couchbase in a research report on Friday. Piper Sandler increased their price objective on shares of Couchbase from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.56.

Couchbase Price Performance

Shares of Couchbase stock opened at $24.49 on Friday. The company has a 50-day moving average of $17.95 and a 200 day moving average of $16.81. The firm has a market cap of $1.32 billion, a price-to-earnings 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 announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The company had revenue of $56.52 million for the quarter, compared to the consensus estimate of $55.59 million. During the same period in the prior year, the firm posted ($0.10) EPS. Couchbase’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts anticipate that Couchbase will post -1.48 EPS for the current year.

Insider Activity

In other news, SVP Huw Owen sold 15,938 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $15.43, for a total value of $245,923.34. Following the transaction, the senior vice president now owns 427,699 shares in the company, valued at $6,599,395.57. This represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William Robert Carey sold 2,300 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the transaction, the chief financial officer now owns 94,780 shares in the company, valued at $1,848,210. This trade represents a 2.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,904 shares of company stock valued at $622,343 in the last 90 days. 14.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Couchbase

Institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its stake in shares of Couchbase by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 24,172 shares of the company’s stock worth $377,000 after purchasing an additional 1,342 shares during the period. Intech Investment Management LLC bought a new position in shares of Couchbase in the 4th quarter worth approximately $249,000. Congress Asset Management Co. bought a new position in shares of Couchbase in the 1st quarter worth approximately $5,650,000. Harbor Capital Advisors Inc. lifted its stake in shares of Couchbase by 33.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company’s stock worth $141,000 after purchasing an additional 2,240 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Couchbase by 11.1% in the 4th quarter. Northern Trust Corp now owns 367,884 shares of the company’s stock worth $5,735,000 after purchasing an additional 36,828 shares during the period. Institutional investors 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.