Couchbase, Inc. (NASDAQ:BASE – Get Free Report) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 1,280,000 shares, a decline of 11.1% from the June 30th total of 1,440,000 shares. Based on an average daily volume of 531,100 shares, the short-interest ratio is presently 2.4 days. Approximately 3.4% of the shares of the company are short sold.
Couchbase Stock Performance
BASE traded down $0.24 during midday trading on Tuesday, hitting $19.56. 121,093 shares of the company traded hands, compared to its average volume of 505,976. Couchbase has a 52-week low of $14.12 and a 52-week high of $32.00. The business has a 50 day simple moving average of $19.67 and a two-hundred day simple moving average of $23.84.
Couchbase (NASDAQ:BASE – Get Free Report) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The company had revenue of $51.33 million for the quarter, compared to analysts’ expectations of $48.52 million. Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.49%. Equities analysts anticipate that Couchbase will post -1.45 earnings per share for the current fiscal year.
Insiders Place Their Bets
Hedge Funds Weigh In On Couchbase
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BASE. Lord Abbett & CO. LLC purchased a new position in Couchbase during the first quarter valued at $9,059,000. Vanguard Group Inc. lifted its stake in shares of Couchbase by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after buying an additional 227,828 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Couchbase by 346.2% in the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after buying an additional 204,396 shares in the last quarter. Circumference Group LLC purchased a new position in shares of Couchbase in the fourth quarter worth about $4,504,000. Finally, Sei Investments Co. lifted its stake in shares of Couchbase by 918.4% in the first quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock worth $3,150,000 after buying an additional 107,962 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on BASE shares. Robert W. Baird cut their price objective on shares of Couchbase from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. DA Davidson cut their price objective on shares of Couchbase from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Wells Fargo & Company cut their price objective on shares of Couchbase from $37.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Barclays cut their price objective on shares of Couchbase from $33.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. Finally, Royal Bank of Canada dropped their price target on shares of Couchbase from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Couchbase presently has a consensus rating of “Moderate Buy” and an average target price of $28.58.
Check Out Our Latest Research Report on Couchbase
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.
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