DA Davidson Reaffirms “Buy” Rating for Couchbase (NASDAQ:BASE)

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the stock. DA Davidson’s price objective would suggest a potential upside of 55.28% from the company’s previous close.

BASE has been the topic of a number of other research reports. Guggenheim reiterated a “buy” rating and issued a $30.00 target price on shares of Couchbase in a research report on Wednesday. Morgan Stanley dropped their target price on Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Piper Sandler Companies began coverage on Couchbase in a report on Friday, August 16th. They issued an “overweight” rating and a $22.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Couchbase in a report on Thursday, September 5th. Finally, Robert W. Baird decreased their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Couchbase currently has an average rating of “Moderate Buy” and an average target price of $23.27.

Couchbase Trading Down 23.8 %

Shares of BASE stock traded down $5.02 during trading hours on Wednesday, reaching $16.10. 1,233,731 shares of the company’s stock were exchanged, compared to its average volume of 477,236. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00. The stock has a market cap of $826.25 million, a PE ratio of -10.43 and a beta of 0.71. The stock’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $18.20.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm 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 54.84% and a negative net margin of 39.51%. Couchbase’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. On average, equities analysts expect that Couchbase will post -1.51 EPS for the current fiscal year.

Insider Activity at Couchbase

In related news, Director Edward T. Anderson bought 21,080 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Huw Owen sold 6,736 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,548 shares of company stock valued at $163,390. 16.10% of the stock is owned by insiders.

Institutional Trading of Couchbase

A number of hedge funds and other institutional investors have recently modified their holdings of BASE. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Couchbase during the 2nd quarter worth about $47,000. Point72 Hong Kong Ltd acquired a new stake in shares of Couchbase during the 2nd quarter worth about $67,000. Harbor Capital Advisors Inc. increased its position in shares of Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after purchasing an additional 1,125 shares during the last quarter. Arizona State Retirement System increased its position in shares of Couchbase by 28.5% during the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Couchbase by 5.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after purchasing an additional 700 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.