Analysts Set Couchbase, Inc. (NASDAQ:BASE) Target Price at $22.93

Couchbase, Inc. (NASDAQ:BASE) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.93.

Several equities analysts have recently commented on the company. Piper Sandler Companies initiated coverage on Couchbase in a research note on Friday, August 16th. They issued an “overweight” rating and a $22.00 price target on the stock. Morgan Stanley reduced their price target on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Guggenheim reaffirmed a “buy” rating and set a $30.00 price objective on shares of Couchbase in a research report on Tuesday, June 25th. The Goldman Sachs Group lowered Couchbase from a “neutral” rating to a “sell” rating and cut their target price for the company from $30.00 to $18.00 in a research report on Thursday, June 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Couchbase in a research report on Thursday, September 5th.

Insider Buying and Selling at Couchbase

In other Couchbase news, SVP Huw Owen sold 2,993 shares of the company’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 of the company’s stock, valued at approximately $6,825,484.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jeff Epstein sold 7,277 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the completion of the transaction, the director now directly owns 28,027 shares of the company’s stock, valued at $563,342.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 2,993 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 412,915 shares in the company, valued at $6,825,484.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,987 shares of company stock worth $668,568. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of 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 purchasing an additional 204,396 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Couchbase during the first quarter valued at $9,059,000. Vanguard Group Inc. grew its stake in shares of Couchbase by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after buying an additional 227,828 shares in the last quarter. Sei Investments Co. grew its position in Couchbase by 918.4% in the first quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock worth $3,150,000 after acquiring an additional 107,962 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Couchbase by 21.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 190,103 shares of the company’s stock worth $5,002,000 after buying an additional 33,754 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Couchbase Trading Down 4.5 %

Shares of BASE opened at $14.19 on Friday. The firm has a 50-day moving average price of $17.84 and a 200 day moving average price of $21.72. Couchbase has a 12-month low of $14.07 and a 12-month high of $32.00. The firm has a market capitalization of $713.90 million, a P/E ratio of -8.65 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same quarter last year, the firm earned ($0.44) EPS. The business’s revenue was up 19.7% compared to the same quarter last year. Equities research analysts predict that Couchbase will post -1.5 earnings per share for the current fiscal year.

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.