Couchbase’s (BASE) Hold Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Couchbase (NASDAQ:BASE) in a report published on Monday,Benzinga reports. The brokerage currently has a $24.50 price target on the stock, up from their prior price target of $21.00.

Several other equities research analysts also recently commented on the company. Rosenblatt Securities downgraded Couchbase from a “strong-buy” rating to a “hold” rating and upped their target price for the company from $22.00 to $24.50 in a report on Friday, June 20th. The Goldman Sachs Group reduced their price objective on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. William Blair downgraded shares of Couchbase from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 20th. Guggenheim reduced their price target on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays lifted their price objective on shares of Couchbase from $22.00 to $24.50 and gave the stock an “overweight” rating in a research report on Friday, June 20th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.09.

Couchbase Price Performance

Shares of BASE opened at $24.12 on Monday. The firm’s 50 day moving average is $18.52 and its 200-day moving average is $16.97. Couchbase has a 12-month low of $12.78 and a 12-month high of $25.16. The stock has a market capitalization of $1.30 billion, a P/E ratio of -17.61 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. As a group, equities research analysts forecast that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Transactions at Couchbase

In other Couchbase news, CFO William Robert Carey sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the sale, the chief financial officer now owns 94,780 shares of the company’s stock, valued at $1,848,210. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the transaction, the senior vice president now directly owns 427,699 shares in the company, valued at approximately $6,599,395.57. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,708 shares of company stock worth $2,463,649 in the last 90 days. 14.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Couchbase during the fourth quarter valued at about $35,000. AlphaQuest LLC lifted its position in shares of Couchbase by 20.5% during the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after purchasing an additional 617 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Couchbase by 22.2% during the 4th 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 period. Summit Investment Advisors Inc. lifted its holdings in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after buying an additional 807 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company’s stock worth $66,000 after buying an additional 3,067 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.