Couchbase (NASDAQ:BASE) Receives New Coverage from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Couchbase (NASDAQ:BASE) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $22.00 target price on the stock.

A number of other analysts have also recently commented on the company. Barclays lowered their price target on Couchbase from $33.00 to $27.00 and set an equal weight rating for the company in a research note on Thursday, June 6th. Oppenheimer reduced their price target on shares of Couchbase from $36.00 to $30.00 and set an outperform rating on the stock in a research report on Thursday, June 6th. The Goldman Sachs Group lowered shares of Couchbase from a neutral rating to a sell rating and decreased their price target for the company from $30.00 to $18.00 in a report on Thursday, June 6th. Robert W. Baird dropped their price objective on Couchbase from $35.00 to $32.00 and set an outperform rating on the stock in a research note on Thursday, June 6th. Finally, Wells Fargo & Company decreased their target price on Couchbase from $37.00 to $30.00 and set an overweight rating for the company in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $28.58.

Couchbase Stock Up 0.5 %

NASDAQ:BASE opened at $17.59 on Wednesday. Couchbase has a 12-month low of $13.97 and a 12-month high of $32.00. The stock’s fifty day simple moving average is $22.83 and its 200-day simple moving average is $24.49. The firm has a market capitalization of $884.95 million, a P/E ratio of -10.73 and a beta of 0.68.

Insider Buying and Selling

In other Couchbase news, CFO Gregory N. Henry sold 3,982 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $16.52, for a total transaction of $65,782.64. Following the sale, the chief financial officer now directly owns 393,060 shares of the company’s stock, valued at approximately $6,493,351.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Couchbase news, CFO Gregory N. Henry sold 3,982 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $16.52, for a total value of $65,782.64. Following the completion of the transaction, the chief financial officer now directly owns 393,060 shares in the company, valued at $6,493,351.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Huw Owen sold 2,993 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $16.53, for a total value of $49,474.29. Following the transaction, the senior vice president now directly owns 412,915 shares in the company, valued at approximately $6,825,484.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,848 shares of company stock worth $1,547,562. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in Couchbase by 31.3% during the third quarter. Barclays PLC now owns 16,452 shares of the company’s stock worth $282,000 after purchasing an additional 3,926 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Couchbase by 11.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 231,216 shares of the company’s stock worth $3,968,000 after acquiring an additional 23,643 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Couchbase by 74.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,352 shares of the company’s stock worth $2,855,000 after acquiring an additional 70,978 shares during the last quarter. Corton Capital Inc. bought a new stake in Couchbase in the 3rd quarter valued at $178,000. Finally, Tudor Investment Corp Et Al lifted its holdings in Couchbase by 40.6% during the 3rd quarter. Tudor Investment Corp Et Al now owns 141,261 shares of the company’s stock valued at $2,424,000 after purchasing an additional 40,808 shares during the last quarter. 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.