Couchbase (NASDAQ:BASE) Receives Buy Rating from Guggenheim

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a research note issued on Wednesday,Benzinga reports. They currently have a $30.00 price target on the stock. Guggenheim’s price target suggests a potential upside of 42.05% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus raised their price objective on Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson cut their price target on Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley reduced their price objective on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Couchbase in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Stock Up 2.9 %

Shares of Couchbase stock opened at $21.12 on Wednesday. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The firm’s 50 day moving average is $17.37 and its two-hundred day moving average is $18.25. The firm has a market capitalization of $1.08 billion, a P/E ratio of -13.28 and a beta of 0.71.

Couchbase (NASDAQ:BASE) last posted its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The firm had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.11 million. During the same period last year, the firm posted ($0.44) EPS. The company’s revenue was up 19.7% on a year-over-year basis. As a group, research analysts expect that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Couchbase

In related news, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $14.16 per share, with a total value of $298,492.80. Following the completion of the acquisition, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the transaction, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,548 shares of company stock valued at $163,390. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Couchbase

Several hedge funds have recently bought and sold shares of BASE. Dynamic Technology Lab Private Ltd purchased a new stake in Couchbase during the third quarter worth $772,000. Horrell Capital Management Inc. raised its stake in shares of Couchbase by 64.3% during the 3rd quarter. Horrell Capital Management Inc. now owns 230,000 shares of the company’s stock worth $3,708,000 after buying an additional 90,000 shares during the last quarter. 272 Capital LP purchased a new stake in shares of Couchbase in the 3rd quarter worth about $1,566,000. Bank of New York Mellon Corp grew its stake in Couchbase by 34.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock valued at $2,997,000 after acquiring an additional 42,434 shares during the last quarter. Finally, EVR Research LP increased its holdings in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after acquiring an additional 179,585 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other 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.