Barclays Issues Positive Forecast for Couchbase (NASDAQ:BASE) Stock Price

Couchbase (NASDAQ:BASE) had its price objective raised by Barclays from $19.00 to $23.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Piper Sandler dropped their target price on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a report on Thursday, September 5th. Morgan Stanley reduced their target price on Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Wedbush initiated coverage on shares of Couchbase in a research note on Thursday, October 17th. They issued an “outperform” rating and a $26.00 price target on the stock. Finally, Oppenheimer reduced their price objective on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. One 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Couchbase Stock Performance

NASDAQ BASE opened at $19.64 on Friday. The firm has a market capitalization of $1.01 billion, a P/E ratio of -12.35 and a beta of 0.59. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The stock has a 50-day simple moving average of $16.13 and a two-hundred day simple moving average of $18.64.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. During the same quarter last year, the company earned ($0.44) EPS. The business’s revenue was up 19.7% on a year-over-year basis. As a group, analysts forecast that Couchbase will post -1.51 earnings per share for the current year.

Insider Transactions at Couchbase

In other news, Director Edward T. Anderson acquired 21,080 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $14.16 per share, with a total value of $298,492.80. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Huw Owen sold 6,736 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction of $101,511.52. Following the sale, the senior vice president now owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,448 shares of company stock worth $180,742 in the last ninety days. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Couchbase by 6.0% in the first 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 during the period. EVR Research LP raised its stake in shares of Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after acquiring an additional 179,585 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of Couchbase by 7.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock worth $29,762,000 after acquiring an additional 118,372 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Couchbase by 56.4% during the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after purchasing an additional 357,169 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Couchbase by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock valued at $15,228,000 after purchasing an additional 88,068 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.