Robert W. Baird Issues Pessimistic Forecast for Couchbase (NASDAQ:BASE) Stock Price

Couchbase (NASDAQ:BASE) had its price target reduced by stock analysts at Robert W. Baird from $27.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 18.37% from the stock’s previous close.

BASE has been the subject of several other research reports. Wedbush assumed coverage on shares of Couchbase in a research note on Thursday, October 17th. They set an “outperform” rating and a $26.00 price target for the company. Oppenheimer cut their target price on Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Stifel Nicolaus reduced their price target on Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a research report on Thursday, September 5th. Finally, DA Davidson reduced their target price on Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on 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 BASE stock opened at $21.12 on Wednesday. The firm has a market capitalization of $1.08 billion, a P/E ratio of -13.28 and a beta of 0.71. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00. The stock’s fifty day simple moving average is $17.37 and its 200 day simple moving average is $18.25.

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

Insider Activity

In other Couchbase news, SVP Huw Owen sold 6,736 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward T. Anderson bought 21,080 shares of the stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the transaction, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. This trade represents a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 10,548 shares of company stock worth $163,390. Company insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC bought a new position in shares of Couchbase in the second quarter valued at $47,000. Point72 Hong Kong Ltd acquired a new position in Couchbase during the 2nd quarter valued at about $67,000. Harbor Capital Advisors Inc. increased its holdings in Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after purchasing an additional 1,125 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Couchbase by 28.5% in the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

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.