Couchbase (NASDAQ:BASE) Earns “Overweight” Rating from Piper Sandler

Couchbase (NASDAQ:BASE)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $21.00 price target on the stock. Piper Sandler’s price target indicates a potential upside of 27.50% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. UBS Group decreased their price target on Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company cut their target price on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Barclays boosted their price target on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley dropped their price target on Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Finally, DA Davidson reduced their price objective on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.27.

Couchbase Trading Down 0.1 %

NASDAQ BASE opened at $16.47 on Wednesday. Couchbase has a 12 month low of $13.53 and a 12 month high of $32.00. The stock has a market cap of $845.24 million, a price-to-earnings ratio of -10.29 and a beta of 0.71. The company’s 50 day moving average is $17.54 and its two-hundred day moving average is $18.19.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.01%. 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 earned ($0.44) EPS. The company’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Couchbase will post -1.51 EPS for the current year.

Insider Transactions at Couchbase

In related news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction dated 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 transaction, the senior vice president now owns 373,647 shares in the company, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward T. Anderson acquired 21,080 shares of Couchbase stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the purchase, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 10,548 shares of company stock worth $163,390 in the last three months. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Several hedge funds and other institutional investors have recently bought and sold shares of BASE. Ashton Thomas Private Wealth LLC bought a new position in Couchbase during the second quarter valued at $47,000. Point72 Hong Kong Ltd bought a new stake in shares of Couchbase in the 2nd quarter worth about $67,000. Harbor Capital Advisors Inc. boosted its stake in shares of 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 during the period. Arizona State Retirement System grew its holdings in Couchbase by 28.5% during the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Couchbase by 5.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors 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.