Couchbase, Inc. (NASDAQ:BASE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Couchbase, Inc. (NASDAQ:BASE) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.40.

Several brokerages have recently commented on BASE. Piper Sandler lowered their price target on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Piper Sandler Companies began coverage on shares of Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 price target for the company. Robert W. Baird lowered their price target on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Morgan Stanley lowered their price target on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Finally, Stifel Nicolaus lowered their price target on shares of Couchbase from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, September 5th.

Insider Buying and Selling

In related news, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the transaction, the senior vice president now owns 373,647 shares in the company, valued at approximately $5,630,860.29. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,448 shares of company stock worth $180,742. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of Couchbase in the second quarter valued at about $47,000. Point72 Hong Kong Ltd acquired a new position in shares of Couchbase in the second quarter valued at about $67,000. Harbor Capital Advisors Inc. grew its stake in shares of Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Couchbase by 28.5% in the second 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. Finally, Point72 Asset Management L.P. grew its stake 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 in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Stock Down 0.4 %

Shares of BASE stock opened at $20.33 on Thursday. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00. The company has a market capitalization of $1.04 billion, a P/E ratio of -12.79 and a beta of 0.59. The firm has a 50-day moving average price of $16.85 and a 200 day moving average price of $18.41.

Couchbase (NASDAQ:BASE) last posted 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. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.44) EPS. As a group, research analysts expect that Couchbase will post -1.51 earnings per share for the current year.

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.