Barclays Lowers Couchbase (NASDAQ:BASE) Price Target to $19.00

Couchbase (NASDAQ:BASE) had its price objective cut by Barclays from $20.00 to $19.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. DA Davidson dropped their price target on shares of Couchbase from $35.00 to $30.00 and set a buy rating for the company in a research report on Friday, June 7th. Piper Sandler Companies started coverage on shares of Couchbase in a research report on Friday, August 16th. They set an overweight rating and a $22.00 price target for the company. Guggenheim reaffirmed a buy rating and set a $30.00 price target on shares of Couchbase in a research report on Tuesday, June 25th. Stifel Nicolaus dropped their price target on shares of Couchbase from $25.00 to $20.00 and set a buy rating for the company in a research report on Thursday. Finally, Robert W. Baird dropped their price target on shares of Couchbase from $32.00 to $27.00 and set an outperform rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $22.93.

Couchbase Price Performance

NASDAQ:BASE opened at $16.10 on Thursday. The firm has a 50 day simple moving average of $18.27 and a 200-day simple moving average of $22.41. The firm has a market cap of $809.99 million, a PE ratio of -9.82 and a beta of 0.61. Couchbase has a 1-year low of $14.12 and a 1-year high of $32.00.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.49%. The business had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.11 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts expect that Couchbase will post -1.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Gregory N. Henry sold 3,982 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Margaret Chow sold 2,290 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.00, for a total value of $45,800.00. Following the completion of the transaction, the senior vice president now directly owns 192,458 shares in the company, valued at $3,849,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory N. Henry sold 3,982 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $16.52, for a total transaction of $65,782.64. Following the completion of the transaction, the chief financial officer now owns 393,060 shares of the company’s stock, valued at $6,493,351.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,987 shares of company stock worth $668,568. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BASE. Lord Abbett & CO. LLC purchased a new position in shares of Couchbase in the first quarter valued at $9,059,000. Vanguard Group Inc. boosted its stake in Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after acquiring an additional 227,828 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Couchbase by 346.2% during the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock valued at $6,928,000 after acquiring an additional 204,396 shares during the last quarter. Circumference Group LLC bought a new position in Couchbase during the 4th quarter valued at $4,504,000. Finally, EVR Research LP boosted its stake in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after acquiring an additional 179,585 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other 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.