Couchbase (NASDAQ:BASE) Rating Lowered to Hold at William Blair

William Blair downgraded shares of Couchbase (NASDAQ:BASE) from a strong-buy rating to a hold rating in a research note released on Friday morning, Marketbeat reports.

Several other equities analysts also recently commented on the company. DA Davidson downgraded Couchbase from a “strong-buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $24.50 in a research report on Friday. Guggenheim decreased their target price 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 decreased their target price on Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research report on Wednesday, June 4th. Finally, UBS Group upped their target price on Couchbase from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.56.

Couchbase Stock Up 29.4%

Shares of NASDAQ BASE opened at $24.49 on Friday. The business’s 50 day moving average price is $17.95 and its two-hundred day moving average price is $16.81. The company has a market cap of $1.32 billion, a PE ratio of -17.88 and a beta of 0.82. Couchbase has a twelve month low of $12.78 and a twelve month high of $25.16.

Couchbase (NASDAQ:BASE) last announced its quarterly 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. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The firm had revenue of $56.52 million for the quarter, compared to the consensus estimate of $55.59 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts anticipate that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Huw Owen sold 15,938 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $15.43, for a total transaction of $245,923.34. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lynn M. Christensen sold 7,933 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total value of $158,739.33. Following the sale, the director now directly owns 11,987 shares in the company, valued at $239,859.87. This represents a 39.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,904 shares of company stock valued at $622,343 over the last 90 days. 16.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Couchbase during the fourth quarter worth $35,000. AlphaQuest LLC lifted its stake in Couchbase by 20.5% during the first 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. Summit Investment Advisors Inc. lifted its stake in 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 purchasing an additional 807 shares during the last quarter. Daiwa Securities Group Inc. lifted 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 purchasing an additional 759 shares during the last quarter. Finally, CWM LLC lifted its stake in Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company’s stock worth $66,000 after purchasing an additional 3,067 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

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.