Barclays Lowers Couchbase (NASDAQ:BASE) Price Target to $20.00

Couchbase (NASDAQ:BASE) had its price target cut by investment analysts at Barclays from $27.00 to $20.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 9.89% from the stock’s current price.

BASE has been the topic of several other reports. Royal Bank of Canada cut their target price on Couchbase from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. Needham & Company LLC began coverage on Couchbase in a report on Wednesday, June 26th. They set a “buy” rating and a $22.00 target price for the company. Piper Sandler initiated coverage on shares of Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Couchbase from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. Finally, Piper Sandler Companies began coverage on shares of Couchbase in a research note on Friday, August 16th. They issued an “overweight” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Couchbase presently has a consensus rating of “Moderate Buy” and an average target price of $27.14.

Couchbase Stock Performance

Shares of BASE opened at $18.20 on Monday. Couchbase has a fifty-two week low of $14.12 and a fifty-two week high of $32.00. The company has a market capitalization of $915.64 million, a PE ratio of -11.10 and a beta of 0.61. The stock has a fifty day moving average of $18.00 and a two-hundred day moving average of $23.09.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The business had revenue of $51.33 million during the quarter, compared to analyst estimates of $48.52 million. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. As a group, equities research analysts forecast that Couchbase will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Couchbase news, Director Jeff Epstein sold 7,277 shares of Couchbase stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the sale, the director now directly owns 28,027 shares in the company, valued at approximately $563,342.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeff Epstein sold 7,277 shares of Couchbase stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $20.10, for a total value of $146,267.70. Following the completion of the transaction, the director now owns 28,027 shares in the company, valued at approximately $563,342.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lynn M. Christensen sold 9,874 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $25.76, for a total value of $254,354.24. Following the sale, the director now directly owns 1,229 shares in the company, valued at $31,659.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,062 shares of company stock worth $1,304,698. 16.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after buying an additional 227,828 shares during the last quarter. EVR Research LP boosted its stake in Couchbase by 9.4% in the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after acquiring an additional 179,585 shares during the period. Hood River Capital Management LLC grew its holdings in shares of Couchbase by 7.8% during the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock valued at $29,762,000 after purchasing an additional 118,372 shares during the last quarter. Pembroke Management LTD raised its position in shares of Couchbase by 18.1% during the 2nd quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock worth $14,788,000 after purchasing an additional 123,927 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Couchbase in the 1st quarter worth approximately $9,059,000. 96.07% of the stock is currently owned by 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.