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

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 25.50% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Couchbase in a research report on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $21.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Truist Financial initiated coverage on Couchbase in a research note on Thursday, December 12th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and an average target price of $22.19.

Couchbase Stock Performance

NASDAQ BASE opened at $17.53 on Wednesday. The stock’s fifty day moving average is $17.01 and its two-hundred day moving average is $17.03. The firm has a market capitalization of $917.66 million, a P/E ratio of -10.96 and a beta of 0.81. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. As a group, sell-side analysts forecast that Couchbase will post -1.48 EPS for the current year.

Insider Buying and Selling at Couchbase

In other Couchbase news, SVP Huw Owen sold 7,575 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $115,291.50. Following the transaction, the senior vice president now directly owns 341,709 shares in the company, valued at $5,200,810.98. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Margaret Chow sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the completion of the transaction, the senior vice president now owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock worth $950,915 over the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of institutional investors and hedge funds have recently bought and sold shares of BASE. Mackenzie Financial Corp purchased a new stake in shares of Couchbase in the 4th quarter valued at about $382,000. Two Sigma Advisers LP lifted its stake in Couchbase by 32.4% in the fourth quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock valued at $745,000 after buying an additional 11,700 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Couchbase by 36.7% in the fourth quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock valued at $231,000 after acquiring an additional 3,979 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Couchbase by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock worth $349,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Couchbase by 5.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 588,439 shares of the company’s stock valued at $9,174,000 after acquiring an additional 32,078 shares during the period. 96.07% of the stock is owned by hedge funds and other 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.