Couchbase’s (BASE) Neutral Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Couchbase (NASDAQ:BASE) in a research report released on Friday,Benzinga reports. The brokerage currently has a $24.50 price target on the stock, down from their previous price target of $25.00.

BASE has been the subject of several other research reports. Robert W. Baird increased their target price on shares of Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Wells Fargo & Company reduced their target price on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Piper Sandler increased their target price on shares of Couchbase from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Barclays reduced their target price on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Couchbase in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Couchbase has an average rating of “Hold” and an average price target of $22.56.

Couchbase Stock Up 29.4%

Shares of BASE stock opened at $24.49 on Friday. The firm has a fifty day moving average of $17.95 and a 200-day moving average of $16.81. Couchbase has a 12-month low of $12.78 and a 12-month high of $25.16. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -17.88 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last announced its earnings results 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 net margin of 33.23% and a negative return on equity of 55.25%. The business had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $55.59 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, equities analysts expect that Couchbase will post -1.48 EPS for the current year.

Insider Transactions at Couchbase

In related news, CFO William Robert Carey sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew M. Cain sold 7,833 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $156,738.33. Following the transaction, the chief executive officer now directly owns 952,347 shares in the company, valued at approximately $19,056,463.47. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,904 shares of company stock worth $622,343. 14.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in 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 acquiring an additional 164,563 shares during the period. Hood River Capital Management LLC increased its holdings in Couchbase by 38.2% in the 4th quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after buying an additional 756,394 shares during the period. EVR Research LP increased its holdings in Couchbase by 2.0% in the 4th quarter. EVR Research LP now owns 2,590,000 shares of the company’s stock valued at $40,378,000 after buying an additional 50,000 shares during the period. Franklin Resources Inc. increased its holdings in Couchbase by 26.8% in the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock valued at $32,569,000 after buying an additional 441,770 shares during the period. Finally, Wasatch Advisors LP increased its holdings in Couchbase by 72.0% in the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after buying an additional 712,936 shares during the period. 96.07% of the stock is owned by institutional investors.

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.