Couchbase (NASDAQ:BASE) Price Target Raised to $23.00

Couchbase (NASDAQ:BASE) had its price target increased by equities research analysts at Barclays from $19.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 19.48% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Piper Sandler Companies began coverage on Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 price objective for the company. Wells Fargo & Company decreased their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Stifel Nicolaus decreased their price target on Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. UBS Group decreased their price target on Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler decreased their price target on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. One investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Couchbase Stock Up 0.4 %

Shares of BASE stock opened at $19.25 on Friday. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The stock has a market cap of $987.99 million, a P/E ratio of -12.11 and a beta of 0.59. The business has a fifty day simple moving average of $16.05 and a 200-day simple moving average of $18.72.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $51.60 million during 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 business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) earnings per share. On average, sell-side analysts anticipate that Couchbase will post -1.51 earnings per share for the current year.

Insider Transactions at Couchbase

In other news, Director Edward T. Anderson bought 21,080 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average price 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 of the company’s stock, valued at $1,216,372.32. This trade represents a 32.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,448 shares of company stock valued at $180,742 over the last three months. Company insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its stake in Couchbase by 5.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after purchasing an additional 700 shares during the period. Harbor Capital Advisors Inc. raised its holdings 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 in the last quarter. Swiss National Bank raised its holdings in Couchbase by 2.3% in the 1st quarter. Swiss National Bank now owns 61,700 shares of the company’s stock valued at $1,623,000 after acquiring an additional 1,400 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Couchbase by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock valued at $379,000 after acquiring an additional 1,865 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Couchbase by 28.5% in the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after acquiring an additional 2,445 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

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.