Couchbase (NASDAQ:BASE) Shares Gap Up Following Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) gapped up prior to trading on Wednesday after Piper Sandler raised their price target on the stock from $21.00 to $22.00. The stock had previously closed at $16.25, but opened at $18.11. Piper Sandler currently has an overweight rating on the stock. Couchbase shares last traded at $17.73, with a volume of 238,618 shares changing hands.

A number of other analysts have also weighed in on BASE. Truist Financial initiated coverage on shares of Couchbase in a research note on Thursday, December 12th. They set a “buy” rating and a $21.00 target price on the stock. DA Davidson reiterated a “buy” rating and issued a $25.00 price target on shares of Couchbase in a research note on Wednesday, December 4th. Morgan Stanley lowered their target price on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Robert W. Baird lowered their target price on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Couchbase in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.19.

Insider Buying and Selling at Couchbase

In other news, SVP Margaret Chow sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Huw Owen sold 14,742 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $18.05, for a total value of $266,093.10. Following the completion of the transaction, the senior vice president now owns 311,251 shares of the company’s stock, valued at approximately $5,618,080.55. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,883 shares of company stock valued at $950,915. 16.10% of the stock is owned by company insiders.

Institutional Trading of Couchbase

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its position in Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Couchbase by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after acquiring an additional 807 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Couchbase by 15.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after acquiring an additional 956 shares in the last quarter. Ceera Investments LLC lifted its position in Couchbase by 3.0% during the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after acquiring an additional 960 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Couchbase by 5.1% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Trading Down 4.0 %

The stock has a 50-day simple moving average of $17.01 and a 200-day simple moving average of $17.03. The company has a market capitalization of $917.66 million, a price-to-earnings ratio of -10.96 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The business had revenue of $54.92 million during the quarter, compared to analyst estimates of $53.25 million. On average, research analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current year.

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.