Couchbase, Inc. (NASDAQ:BASE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Couchbase, Inc. (NASDAQ:BASE) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $22.19.

Several equities analysts have commented on the company. Truist Financial started coverage on Couchbase in a report on Thursday, December 12th. They set a “buy” rating and a $21.00 price target on the stock. Guggenheim dropped their target price on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th.

Couchbase Trading Down 12.0 %

Shares of NASDAQ:BASE opened at $14.04 on Wednesday. The stock has a market capitalization of $745.52 million, a PE ratio of -8.78 and a beta of 0.85. Couchbase has a 1 year low of $12.92 and a 1 year high of $28.67. The firm has a fifty day moving average price of $16.62 and a 200 day moving average price of $16.68.

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

Insiders Place Their Bets

In other news, SVP Huw Owen sold 14,742 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $18.05, for a total value of $266,093.10. Following the completion of the transaction, the senior vice president now directly owns 311,251 shares of the company’s stock, valued at approximately $5,618,080.55. This represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were 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 in the company, valued at approximately $2,436,456.77. This represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,400 shares of company stock worth $975,265 over the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Couchbase in the 4th quarter worth about $35,000. Summit Investment Advisors Inc. boosted its position in Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after buying an additional 807 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after buying an additional 759 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Couchbase during the fourth quarter worth approximately $112,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Couchbase in the fourth quarter valued at approximately $165,000. 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.