Couchbase (NASDAQ:BASE) Given “Buy” Rating at DA Davidson

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $25.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 51.79% from the stock’s previous close.

Several other research firms have also recently weighed in on BASE. Stifel Nicolaus lifted their price objective on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim reissued a “buy” rating and set a $30.00 price objective on shares of Couchbase in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research note on Wednesday. Wells Fargo & Company cut their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.27.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $16.47 on Wednesday. The company has a market capitalization of $845.24 million, a price-to-earnings ratio of -10.29 and a beta of 0.71. The firm’s 50 day simple moving average is $17.54 and its 200 day simple moving average is $18.19. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 57.01% and a negative net margin of 39.31%. The business had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.11 million. During the same quarter last year, the business posted ($0.44) EPS. The firm’s revenue was up 19.7% compared to the same quarter last year. Equities research analysts expect that Couchbase will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Couchbase

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Couchbase during the second quarter worth approximately $47,000. Point72 Hong Kong Ltd acquired a new position in Couchbase in the 2nd quarter valued at $67,000. Harbor Capital Advisors Inc. grew its holdings in Couchbase by 23.0% in the 2nd 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 in the last quarter. Arizona State Retirement System lifted its holdings in shares of Couchbase by 28.5% during the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after buying an additional 2,445 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of 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 acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.