Couchbase’s (BASE) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Couchbase (NASDAQ:BASE) in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $22.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. Oppenheimer cut their price objective on Couchbase from $36.00 to $30.00 and set an outperform rating on the stock in a report on Thursday, June 6th. UBS Group assumed coverage on Couchbase in a report on Wednesday, May 22nd. They set a neutral rating and a $31.00 target price on the stock. Barclays dropped their target price on Couchbase from $27.00 to $20.00 and set an equal weight rating on the stock in a report on Monday, August 19th. Wells Fargo & Company dropped their target price on Couchbase from $37.00 to $30.00 and set an overweight rating on the stock in a report on Thursday, June 6th. Finally, Piper Sandler Companies assumed coverage on Couchbase in a report on Friday, August 16th. They set an overweight rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Couchbase currently has an average rating of Moderate Buy and an average price target of $22.93.

Couchbase Stock Down 1.6 %

BASE opened at $15.85 on Thursday. The firm has a market cap of $797.41 million, a P/E ratio of -9.66 and a beta of 0.61. Couchbase has a 52 week low of $14.12 and a 52 week high of $32.00. The business’s fifty day simple moving average is $18.22 and its 200 day simple moving average is $22.26.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.44) earnings per share. As a group, equities analysts expect that Couchbase will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In other Couchbase news, SVP Margaret Chow sold 2,290 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total transaction of $45,800.00. Following the completion of the sale, the senior vice president now owns 192,458 shares in the company, valued at approximately $3,849,160. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Huw Owen sold 7,792 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $16.84, for a total value of $131,217.28. Following the sale, the senior vice president now owns 405,123 shares of the company’s stock, valued at approximately $6,822,271.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Margaret Chow sold 2,290 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $45,800.00. Following the completion of the sale, the senior vice president now directly owns 192,458 shares in the company, valued at approximately $3,849,160. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock worth $668,568 in the last 90 days. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of Couchbase

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. raised its stake in Couchbase by 5.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after acquiring an additional 700 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Couchbase in the 1st quarter worth $26,000. Harbor Capital Advisors Inc. raised its stake in shares of Couchbase by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after buying an additional 1,125 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Couchbase by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,698 shares of the company’s stock worth $151,000 after buying an additional 1,203 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Couchbase by 2.3% in the 1st quarter. Swiss National Bank now owns 61,700 shares of the company’s stock worth $1,623,000 after buying an additional 1,400 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

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.