Wedbush Begins Coverage on Couchbase (NASDAQ:BASE)

Wedbush began coverage on shares of Couchbase (NASDAQ:BASE) in a research report released on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $26.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley cut 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. Piper Sandler cut their target price on Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. UBS Group decreased their price target on Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a research report on Thursday, September 5th. Finally, Oppenheimer reduced their price objective on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.13.

Couchbase Stock Performance

Shares of BASE stock opened at $17.38 on Thursday. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The stock has a market cap of $874.39 million, a price-to-earnings ratio of -10.60 and a beta of 0.59. The firm’s 50-day moving average is $16.38 and its 200-day moving average is $19.70.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) earnings per share. Sell-side analysts predict that Couchbase will post -1.5 EPS for the current fiscal year.

Insider Transactions at Couchbase

In related news, CEO Matthew M. Cain sold 8,953 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total value of $179,149.53. Following the completion of the transaction, the chief executive officer now owns 776,437 shares in the company, valued at $15,536,504.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Matthew M. Cain sold 8,953 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total value of $179,149.53. Following the sale, the chief executive officer now owns 776,437 shares of the company’s stock, valued at $15,536,504.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Margaret Chow sold 2,290 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $45,800.00. Following the transaction, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at approximately $3,849,160. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,056 shares of company stock worth $538,135. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of hedge funds and other institutional investors have recently made changes to their positions in BASE. Acadian Asset Management LLC raised its holdings in Couchbase by 346.2% during the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after purchasing an additional 204,396 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Couchbase in the first quarter valued at $9,059,000. Vanguard Group Inc. boosted its position in Couchbase by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after acquiring an additional 227,828 shares during the last quarter. Sei Investments Co. grew its holdings in Couchbase by 918.4% during the 1st quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock worth $3,150,000 after acquiring an additional 107,962 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Couchbase by 21.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 190,103 shares of the company’s stock worth $5,002,000 after acquiring an additional 33,754 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.