Couchbase’s (BASE) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note published on Wednesday,Benzinga reports. They currently have a $30.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. UBS Group cut their target price on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Couchbase in a research report on Thursday, September 5th. Piper Sandler restated an “overweight” rating and set a $21.00 price objective on shares of Couchbase in a report on Wednesday. Oppenheimer dropped their price objective on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.27.

Couchbase Price Performance

Couchbase stock opened at $16.49 on Wednesday. The firm has a market cap of $846.27 million, a price-to-earnings ratio of -10.43 and a beta of 0.71. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The firm has a fifty day moving average price of $17.50 and a two-hundred day moving average price of $18.20.

Couchbase (NASDAQ:BASE) last released its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.44) EPS. As a group, sell-side analysts expect that Couchbase will post -1.51 earnings per share for the current year.

Insider Transactions at Couchbase

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

Hedge Funds Weigh In On Couchbase

Large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Couchbase during the second quarter worth approximately $47,000. Point72 Hong Kong Ltd acquired a new position in Couchbase in the second quarter valued at approximately $67,000. Harbor Capital Advisors Inc. lifted its holdings in Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after buying an additional 1,125 shares during the period. Arizona State Retirement System lifted its holdings in Couchbase by 28.5% in the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after buying an additional 2,445 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after buying an additional 700 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.