Couchbase (NASDAQ:BASE) Announces Quarterly Earnings Results

Couchbase (NASDAQ:BASE – Get Rating) posted its earnings results on Wednesday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07, Briefing.com reports. The firm had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $32.62 million. Couchbase had a negative return on equity of 32.92% and a negative net margin of 48.65%. Couchbase’s revenue for the quarter was up 24.6% compared to the same quarter last year. Couchbase updated its FY 2023 guidance to EPS and its Q2 2023 guidance to EPS.

Couchbase stock opened at $16.00 on Friday. Couchbase has a 12 month low of $11.68 and a 12 month high of $52.26. The company has a market capitalization of $712.48 million and a price-to-earnings ratio of -5.56. The business’s fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $19.87.

Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in Couchbase by 145.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,822 shares of the company’s stock worth $32,000 after purchasing an additional 1,080 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in Couchbase in the first quarter worth about $30,000. Swiss National Bank lifted its stake in shares of Couchbase by 7.9% in the first quarter. Swiss National Bank now owns 25,800 shares of the company’s stock worth $449,000 after buying an additional 1,900 shares in the last quarter. UBS Group AG grew its holdings in shares of Couchbase by 71.3% during the first quarter. UBS Group AG now owns 4,664 shares of the company’s stock valued at $81,000 after buying an additional 1,942 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Couchbase by 33.9% during the fourth quarter. Deutsche Bank AG now owns 8,106 shares of the company’s stock valued at $203,000 after acquiring an additional 2,051 shares in the last quarter. Hedge funds and other institutional investors own 62.93% of the company’s stock.

BASE has been the topic of several recent analyst reports. Robert W. Baird cut their price target on shares of Couchbase from $35.00 to $25.00 in a report on Friday. Royal Bank of Canada reduced their price target on shares of Couchbase from $27.00 to $25.00 in a research report on Monday. Zacks Investment Research upgraded Couchbase from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. The Goldman Sachs Group lowered their target price on Couchbase from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus reduced their price target on Couchbase from $25.00 to $20.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.63.

Couchbase Company Profile (Get Rating)

Couchbase, Inc provides a database for enterprise applications worldwide. 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 Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++, that allows for a various array of data manipulation functions; and Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments.

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