Couchbase (NASDAQ:BASE) Downgraded to Hold Rating by Baird R W

Couchbase (NASDAQ:BASE) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also commented on BASE. Barclays increased their price target on shares of Couchbase from $22.00 to $24.50 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating and set a $22.00 price target on shares of Couchbase in a research report on Friday. Morgan Stanley raised their price target on Couchbase from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Guggenheim dropped their price objective on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, William Blair cut Couchbase from a “strong-buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Couchbase presently has an average rating of “Hold” and an average target price of $22.94.

Couchbase Price Performance

BASE opened at $24.58 on Monday. The stock has a market cap of $1.33 billion, a P/E ratio of -17.94 and a beta of 0.82. Couchbase has a 1-year low of $12.78 and a 1-year high of $25.16. The stock’s 50 day simple moving average is $18.14 and its 200 day simple moving average is $16.87.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. Couchbase’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Research analysts expect that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Activity

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the business’s 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 sale, the senior vice president now directly owns 427,699 shares in the company, valued at $6,599,395.57. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a 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 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 sale, the chief financial officer now owns 94,780 shares of the company’s stock, valued at approximately $1,848,210. This represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,904 shares of company stock valued at $622,343 in the last ninety days. Company insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of institutional investors have recently added to or reduced their stakes in BASE. Quarry LP purchased a new stake in shares of Couchbase in the fourth quarter worth about $35,000. AlphaQuest LLC boosted its holdings in Couchbase by 20.5% in the 1st 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. Summit Investment Advisors Inc. boosted its holdings in Couchbase by 24.1% in the 4th 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. Daiwa Securities Group Inc. boosted its holdings in Couchbase by 22.2% in the 4th 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. Finally, CWM LLC boosted its holdings in Couchbase by 272.9% in the 1st quarter. CWM LLC now owns 4,191 shares of the company’s stock worth $66,000 after acquiring an additional 3,067 shares during the period. 96.07% of the stock is 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.