Couchbase (NASDAQ:BASE) Sees Large Volume Increase – Still a Buy?

Couchbase, Inc. (NASDAQ:BASE) shares saw unusually-strong trading volume on Wednesday . Approximately 1,073,439 shares traded hands during mid-day trading, an increase of 116% from the previous session’s volume of 497,155 shares.The stock last traded at $13.18 and had previously closed at $13.17.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Couchbase in a research note on Wednesday, February 26th. UBS Group lowered their target price on Couchbase from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird dropped their target price on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company decreased their price target on Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays cut their price objective on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Couchbase currently has an average rating of “Moderate Buy” and an average target price of $22.19.

Couchbase Stock Up 2.3 %

The stock has a market cap of $705.08 million, a P/E ratio of -8.38 and a beta of 0.81. The firm’s fifty day moving average price is $17.00 and its 200-day moving average price is $16.77.

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

Insider Activity

In other Couchbase news, SVP Huw Owen sold 7,575 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $115,291.50. Following the completion of the transaction, the senior vice president now directly owns 341,709 shares in the company, valued at $5,200,810.98. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the transaction, the chief financial officer now owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,883 shares of company stock valued at $950,915 over the last three months. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

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