The Goldman Sachs Group Cuts Couchbase (NASDAQ:BASE) Price Target to $16.00

Couchbase (NASDAQ:BASE) had its target price reduced by The Goldman Sachs Group from $18.00 to $16.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Wednesday. Guggenheim reduced their price objective on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial began coverage on shares of Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 price objective for the company. DA Davidson reiterated a “buy” rating and issued a $25.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.19.

Couchbase Stock Up 0.7 %

Couchbase stock opened at $17.65 on Thursday. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The company’s 50 day moving average price is $17.05 and its two-hundred day moving average price is $17.03. The stock has a market cap of $923.94 million, a P/E ratio of -11.03 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). The company had revenue of $54.92 million during the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. On average, equities analysts anticipate that Couchbase will post -1.48 EPS for the current year.

Insider Buying and Selling

In related news, CFO Gregory N. Henry sold 3,853 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the completion of the transaction, the chief financial officer now directly owns 336,679 shares in the company, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Huw Owen sold 7,575 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $115,291.50. Following the completion of the transaction, the senior vice president now owns 341,709 shares of the company’s stock, valued at $5,200,810.98. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,883 shares of company stock worth $950,915. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Couchbase in the fourth quarter worth $35,000. Summit Investment Advisors Inc. lifted its stake in Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after purchasing an additional 807 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Couchbase by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Couchbase by 15.9% in the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after purchasing an additional 956 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Couchbase in the fourth quarter worth $112,000. 96.07% of the stock is owned by 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.