Royal Bank of Canada reiterated their outperform rating on shares of Couchbase (NASDAQ:BASE – Free Report) in a research note published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $25.00 price objective on the stock.
Other equities research analysts have also issued reports about the company. Oppenheimer decreased their target price on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Morgan Stanley reduced their target price on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday. UBS Group reduced their target price on Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Robert W. Baird dropped their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.27.
Read Our Latest Stock Analysis on Couchbase
Couchbase Trading Down 21.9 %
Couchbase (NASDAQ:BASE – Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. During the same period last year, the business earned ($0.44) EPS. The business’s revenue was up 19.7% on a year-over-year basis. On average, sell-side analysts forecast that Couchbase will post -1.51 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Couchbase news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the transaction, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at $5,630,860.29. The trade was a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward T. Anderson purchased 21,080 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the purchase, the director now directly owns 85,902 shares in the company, valued at approximately $1,216,372.32. This trade represents a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 10,548 shares of company stock worth $163,390 in the last quarter. 16.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Couchbase
A number of large investors have recently bought and sold shares of BASE. Portolan Capital Management LLC increased its stake in shares of Couchbase by 77.8% during the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after buying an additional 382,851 shares during the period. Wasatch Advisors LP increased its stake in shares of Couchbase by 56.4% during the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after buying an additional 357,169 shares during the period. Franklin Resources Inc. increased its stake in shares of Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after buying an additional 353,233 shares during the period. EVR Research LP increased its stake in shares of Couchbase by 9.4% during the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after buying an additional 179,585 shares during the period. Finally, Pembroke Management LTD increased its stake in shares of Couchbase by 18.1% during the second quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock valued at $14,788,000 after buying an additional 123,927 shares during the period. 96.07% of the stock is 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.
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