Couchbase’s (BASE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Couchbase (NASDAQ:BASE) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $22.00 price target on the stock.

Other analysts have also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $21.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Stifel Nicolaus upped their target price on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley reduced their target price on Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Guggenheim restated a “buy” rating and set a $30.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Price Performance

Couchbase stock opened at $17.65 on Wednesday. The business has a 50 day moving average of $17.05 and a 200-day moving average of $17.04. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00. The company has a market capitalization of $923.94 million, a P/E ratio of -11.03 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.22). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million during the quarter, compared to the consensus estimate of $53.25 million. Equities analysts anticipate that Couchbase will post -1.48 EPS for the current year.

Insider Buying and Selling

In related news, SVP Margaret Chow sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the sale, the senior vice president now directly owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. This represents a 10.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the sale, the chief financial officer now directly owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock worth $950,915 in the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Several large investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its position in shares of Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after purchasing an additional 759 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after acquiring an additional 807 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Couchbase by 15.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock valued at $112,000 after acquiring an additional 956 shares during the period. Ceera Investments LLC raised its stake in Couchbase by 3.0% in the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock valued at $513,000 after acquiring an additional 960 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Couchbase by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after acquiring an additional 1,076 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.