Wedbush Initiates Coverage on Couchbase (NASDAQ:BASE)

Wedbush started coverage on shares of Couchbase (NASDAQ:BASE) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $26.00 price objective on the stock.

BASE has been the topic of several other reports. DA Davidson decreased their price objective on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research note on Thursday, September 5th. Guggenheim reissued a “buy” rating and set a $30.00 price target on shares of Couchbase in a research report on Tuesday, June 25th. Robert W. Baird reduced their price objective on Couchbase from $32.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a research note 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 issued a buy rating to the company. Based on data from MarketBeat, Couchbase presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.13.

Couchbase Trading Up 1.8 %

BASE stock opened at $17.38 on Thursday. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The company has a market cap of $874.39 million, a P/E ratio of -10.60 and a beta of 0.59. The company’s 50-day moving average price is $16.38 and its 200 day moving average price is $19.75.

Couchbase (NASDAQ:BASE) last released its quarterly 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 business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.44) EPS. On average, equities research analysts expect that Couchbase will post -1.5 earnings per share for the current year.

Insider Buying and Selling at Couchbase

In related news, SVP Margaret Chow sold 2,290 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $45,800.00. Following the transaction, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at approximately $3,849,160. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Couchbase news, 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 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 $1,216,372.32. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Margaret Chow sold 2,290 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.00, for a total transaction of $45,800.00. Following the completion of the transaction, the senior vice president now directly owns 192,458 shares in the company, valued at approximately $3,849,160. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,056 shares of company stock worth $538,135 in the last quarter. 16.10% of the stock is owned by insiders.

Institutional Trading of Couchbase

Large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC purchased a new position in Couchbase in the 1st quarter worth approximately $9,059,000. Vanguard Group Inc. grew its holdings in Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after purchasing an additional 227,828 shares in the last quarter. Acadian Asset Management LLC increased its stake in Couchbase by 346.2% during the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after buying an additional 204,396 shares during the period. EVR Research LP lifted its holdings in Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after buying an additional 179,585 shares in the last quarter. Finally, Pembroke Management LTD boosted its position in Couchbase by 18.1% in the 2nd 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 last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.