Royal Bank of Canada Reaffirms Outperform Rating for Couchbase (NASDAQ:BASE)

Couchbase (NASDAQ:BASE)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 51.79% from the company’s current price.

BASE has been the subject of a number of other research reports. Robert W. Baird lowered their target price on Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company cut their target price on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Oppenheimer decreased their price target on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Piper Sandler Companies assumed coverage on shares of Couchbase in a report on Friday, August 16th. They set an “overweight” rating and a $22.00 target price for the company. Finally, Morgan Stanley reduced their price objective on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Couchbase currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Stock Down 0.1 %

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 P/E ratio of -10.29 and a beta of 0.71. The company has a fifty day simple moving average of $17.54 and a 200 day simple moving average of $18.19.

Couchbase (NASDAQ:BASE) last announced its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping 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 company posted ($0.44) EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts expect that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Huw Owen sold 6,736 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward T. Anderson acquired 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased 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 quarter. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of large investors have recently modified their holdings of the business. Portolan Capital Management LLC grew its stake in shares of Couchbase by 77.8% during the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after buying an additional 382,851 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Couchbase by 56.4% during the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after purchasing an additional 357,169 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock worth $27,379,000 after purchasing an additional 353,233 shares during the last quarter. 272 Capital LP bought a new position in Couchbase in the 3rd quarter valued at approximately $3,720,000. Finally, EVR Research LP grew its holdings in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after acquiring an additional 179,585 shares during the last quarter. Institutional investors and hedge funds 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.