Couchbase, Inc. (NASDAQ:BASE) Given Average Rating of “Moderate Buy” by Brokerages

Couchbase, Inc. (NASDAQ:BASE) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $22.19.

Several research firms have issued reports on BASE. Piper Sandler upped their price objective on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. DA Davidson reiterated a “buy” rating and issued a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Truist Financial began coverage on Couchbase in a report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective for the company. Royal Bank of Canada cut their target price on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th.

Couchbase Stock Performance

Shares of BASE stock opened at $16.15 on Wednesday. Couchbase has a 52 week low of $12.92 and a 52 week high of $28.67. The stock has a market capitalization of $857.57 million, a PE ratio of -10.09 and a beta of 0.81. The stock’s fifty day moving average is $16.73 and its 200-day moving average is $16.65.

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

Insiders Place Their Bets

In related news, CFO Gregory N. Henry sold 9,820 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.62, for a total transaction of $173,028.40. Following the completion of the sale, the chief financial officer now directly owns 304,555 shares of the company’s stock, valued at approximately $5,366,259.10. This represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret Chow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the sale, the senior vice president now owns 133,067 shares in the company, valued at $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,393 shares of company stock worth $1,023,213. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BASE. Quarry LP bought a new stake in Couchbase in the 4th quarter valued at $35,000. Daiwa Securities Group Inc. raised its stake in shares of Couchbase by 22.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after purchasing an additional 759 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after purchasing an additional 807 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Couchbase in the fourth quarter valued at about $112,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Couchbase during the fourth quarter worth about $165,000. Institutional investors and hedge funds 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.