Couchbase (NASDAQ:BASE) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Couchbase (NASDAQ:BASE) in a report published on Wednesday morning,Benzinga reports. They currently have a $21.00 target price on the stock.

A number of other research firms have also weighed in on BASE. Barclays boosted their price objective on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Wells Fargo & Company lowered their price objective on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Wedbush initiated coverage on Couchbase in a research note on Thursday, October 17th. They set an “outperform” rating and a $26.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a research note on Thursday, September 5th. Finally, Piper Sandler Companies initiated coverage on Couchbase in a research note on Friday, August 16th. They set an “overweight” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $16.49 on Wednesday. The business’s 50 day moving average price is $17.50 and its 200-day moving average price is $18.20. The firm has a market capitalization of $846.27 million, a PE ratio of -10.43 and a beta of 0.71. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00.

Couchbase (NASDAQ:BASE) last issued 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. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.44) earnings per share. As a group, analysts expect that Couchbase will post -1.51 earnings per share for the current year.

Insider Activity at Couchbase

In other news, Director Edward T. Anderson acquired 21,080 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the acquisition, the director now owns 85,902 shares of the company’s stock, valued at $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,548 shares of company stock worth $163,390. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Couchbase during the 3rd quarter worth about $772,000. Horrell Capital Management Inc. increased its holdings in Couchbase by 64.3% during the 3rd quarter. Horrell Capital Management Inc. now owns 230,000 shares of the company’s stock worth $3,708,000 after purchasing an additional 90,000 shares during the period. 272 Capital LP purchased a new stake in Couchbase during the 3rd quarter worth about $1,566,000. Bank of New York Mellon Corp increased its holdings in Couchbase by 34.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock worth $2,997,000 after purchasing an additional 42,434 shares during the period. Finally, EVR Research LP increased its holdings in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after purchasing an additional 179,585 shares during the period. Hedge funds and other 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.