Royal Bank of Canada Reaffirms “Outperform” Rating for Couchbase (NASDAQ:BASE)

Couchbase (NASDAQ:BASE)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 50.69% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Barclays raised their price objective on shares of Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Wedbush assumed coverage on Couchbase in a research report on Thursday, October 17th. They set an “outperform” rating and a $26.00 target price on the stock. Guggenheim restated a “buy” rating and set a $30.00 price objective on shares of Couchbase in a research note on Wednesday. DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Couchbase in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Couchbase in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Price Performance

Shares of BASE stock traded down $4.53 on Wednesday, reaching $16.59. 1,435,918 shares of the company were exchanged, compared to its average volume of 478,252. The company has a 50-day moving average of $17.50 and a 200-day moving average of $18.20. The company has a market cap of $851.40 million, a price-to-earnings ratio of -10.43 and a beta of 0.71. Couchbase has a one year low of $13.53 and a one year high of $32.00.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings data 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 return on equity of 54.84% and a negative net margin of 39.51%. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same quarter last year, the firm posted ($0.44) earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, sell-side analysts predict that Couchbase will post -1.51 EPS for the current year.

Insider Buying and Selling at Couchbase

In other news, Director Edward T. Anderson acquired 21,080 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the purchase, the director now owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. The trade was a 32.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction of $101,511.52. Following the transaction, the senior vice president now owns 373,647 shares of the company’s stock, valued at $5,630,860.29. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,548 shares of company stock worth $163,390 over the last ninety days. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its position 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. Harbor Capital Advisors Inc. increased its position in shares of Couchbase by 15.9% during the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock valued at $112,000 after buying an additional 956 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Couchbase by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock worth $379,000 after buying an additional 1,865 shares in the last quarter. Arizona State Retirement System lifted its holdings 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 buying an additional 2,445 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Couchbase in the second quarter valued at approximately $47,000. 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.