Robert W. Baird Boosts Couchbase (NASDAQ:BASE) Price Target to $22.00

Couchbase (NASDAQ:BASE) had its price objective hoisted by Robert W. Baird from $20.00 to $22.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other analysts have also commented on BASE. Guggenheim cut their price objective on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price objective on Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Couchbase in a report on Monday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a report on Wednesday. Finally, Royal Bank of Canada cut their price objective on Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.65.

Couchbase Trading Down 1.2%

Couchbase stock opened at $19.22 on Wednesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -12.01 and a beta of 0.82. The stock has a fifty day simple moving average of $16.95 and a two-hundred day simple moving average of $16.86. Couchbase has a 12 month low of $12.78 and a 12 month high of $21.54.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $56.52 million during the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) EPS. On average, equities research analysts forecast that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, SVP Huw Owen sold 15,938 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $15.43, for a total value of $245,923.34. Following the completion of the transaction, the senior vice president now owns 427,699 shares of the company’s stock, valued at $6,599,395.57. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total value of $44,850.00. Following the completion of the transaction, the chief financial officer now directly owns 94,780 shares of the company’s stock, valued at approximately $1,848,210. This trade represents a 2.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,138 shares of company stock valued at $306,865. Company insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently made changes to their positions in the business. AlphaQuest LLC boosted its stake in shares of Couchbase by 20.5% in the first quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after acquiring an additional 617 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Couchbase by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 135,495 shares of the company’s stock worth $2,134,000 after acquiring an additional 696 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Couchbase by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after acquiring an additional 759 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after acquiring an additional 807 shares during the period. Finally, Ceera Investments LLC boosted its stake in shares of Couchbase by 3.0% in the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after acquiring an additional 960 shares during the period. Institutional investors own 96.07% of the company’s stock.

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.