Couchbase (NASDAQ:BASE) Price Target Raised to $20.00

Couchbase (NASDAQ:BASE) had its price target hoisted by UBS Group from $18.00 to $20.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other analysts also recently issued reports on BASE. Guggenheim cut their price objective on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price objective on Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird increased their price target on Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.65.

Couchbase Price Performance

Shares of NASDAQ BASE opened at $19.22 on Wednesday. Couchbase has a 1 year low of $12.78 and a 1 year high of $21.54. The firm has a fifty day moving average price of $16.95 and a 200-day moving average price of $16.86. The stock has a market cap of $1.04 billion, a PE ratio of -12.01 and a beta of 0.82.

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 company had revenue of $56.52 million for the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, research analysts expect that Couchbase will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 427,699 shares of the company’s stock, valued at $6,599,395.57. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the transaction, the chief financial officer now directly owns 94,780 shares in the company, valued at approximately $1,848,210. The trade was a 2.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,138 shares of company stock worth $306,865. Corporate insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Hedge funds have recently modified their holdings of the business. Woodline Partners LP increased its holdings in Couchbase by 60.7% in the 1st quarter. Woodline Partners LP now owns 17,069 shares of the company’s stock valued at $269,000 after purchasing an additional 6,446 shares during the last quarter. Caxton Associates LLP purchased a new position in Couchbase during the 1st quarter valued at about $271,000. Goldman Sachs Group Inc. increased its stake in Couchbase by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 225,460 shares of the company’s stock worth $3,551,000 after purchasing an additional 66,719 shares during the period. Petrus Trust Company LTA boosted its stake in shares of Couchbase by 36.6% in the first quarter. Petrus Trust Company LTA now owns 17,971 shares of the company’s stock valued at $283,000 after purchasing an additional 4,814 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Couchbase by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,848 shares of the company’s stock worth $376,000 after buying an additional 1,487 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.