Couchbase, Inc. (NASDAQ:BASE) Receives $32.40 Average Target Price from Analysts

Shares of Couchbase, Inc. (NASDAQ:BASE) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.40.

BASE has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Couchbase from $26.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Robert W. Baird lifted their price target on Couchbase from $28.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Oppenheimer lifted their price target on Couchbase from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Royal Bank of Canada lifted their price target on Couchbase from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, Guggenheim lifted their price target on Couchbase from $27.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.

Couchbase Stock Performance

Shares of BASE stock opened at $22.90 on Wednesday. Couchbase has a one year low of $13.97 and a one year high of $32.00. The company’s 50-day simple moving average is $26.73 and its 200-day simple moving average is $22.52. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -13.47 and a beta of 0.69.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Couchbase had a negative net margin of 44.54% and a negative return on equity of 54.61%. The business had revenue of $50.09 million for the quarter, compared to analysts’ expectations of $46.56 million. As a group, research analysts forecast that Couchbase will post -1.42 EPS for the current year.

Insider Activity at Couchbase

In related news, SVP Huw Owen sold 1,376 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $25.00, for a total transaction of $34,400.00. Following the transaction, the senior vice president now owns 384,571 shares in the company, valued at $9,614,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Couchbase news, CEO Matthew M. Cain sold 10,053 shares of Couchbase stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.15, for a total value of $242,779.95. Following the transaction, the chief executive officer now owns 883,458 shares in the company, valued at $21,335,510.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Huw Owen sold 1,376 shares of Couchbase stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $25.00, for a total transaction of $34,400.00. Following the completion of the transaction, the senior vice president now owns 384,571 shares in the company, valued at approximately $9,614,275. The disclosure for this sale can be found here. Insiders have sold 65,104 shares of company stock worth $1,774,592 over the last quarter. 22.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new position in Couchbase in the 1st quarter worth approximately $26,000. Quadrature Capital Ltd acquired a new position in Couchbase in the 4th quarter worth approximately $477,000. Vanguard Group Inc. boosted its stake in Couchbase by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 3,801,595 shares of the company’s stock worth $85,612,000 after purchasing an additional 441,704 shares during the period. Readystate Asset Management LP boosted its stake in Couchbase by 58.6% in the 4th quarter. Readystate Asset Management LP now owns 143,448 shares of the company’s stock worth $3,230,000 after purchasing an additional 53,000 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Couchbase in the 4th quarter worth approximately $4,051,000. Institutional investors and hedge funds 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.