Couchbase (NASDAQ:BASE) Earns “Buy” Rating from Needham & Company LLC

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 33.58% from the stock’s current price.

BASE has been the subject of several other reports. Oppenheimer dropped their target price on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a report on Thursday, September 5th. DA Davidson reduced their target price on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. UBS Group dropped their price target on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Company reduced their price target on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.27.

Couchbase Trading Down 0.1 %

Shares of NASDAQ BASE opened at $16.47 on Wednesday. The stock has a market cap of $845.24 million, a PE ratio of -10.29 and a beta of 0.71. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00. The company has a 50-day moving average of $17.54 and a 200 day moving average of $18.19.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 57.01% and a negative net margin of 39.31%. The business had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.11 million. During the same period in the prior year, the business earned ($0.44) earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts forecast that Couchbase will post -1.51 EPS for the current fiscal year.

Insider Transactions at Couchbase

In related news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction that occurred on Friday, September 27th. The shares were 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. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward T. Anderson bought 21,080 shares of Couchbase stock in a transaction on Thursday, September 19th. The shares were acquired at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the acquisition, the director now owns 85,902 shares in the company, valued at $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 10,548 shares of company stock worth $163,390 over the last ninety days. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BASE. Comerica Bank acquired a new stake in Couchbase in the 1st quarter valued at about $2,077,000. Harbor Capital Advisors Inc. raised its holdings in Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares in the last quarter. SG Americas Securities LLC purchased a new position in Couchbase in the second quarter worth approximately $1,283,000. Bank of New York Mellon Corp grew its holdings in Couchbase by 34.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock worth $2,997,000 after acquiring an additional 42,434 shares in the last quarter. Finally, Pembroke Management LTD increased its position in shares of Couchbase by 18.1% in the 2nd quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock valued at $14,788,000 after purchasing an additional 123,927 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.