Analysts Set Couchbase, Inc. (NASDAQ:BASE) PT at $22.93

Couchbase, Inc. (NASDAQ:BASE) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.93.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus lowered their price target on Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Oppenheimer lowered their price target on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company cut their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Robert W. Baird dropped their price objective on Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, Piper Sandler reduced their target price on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th.

Couchbase Stock Performance

NASDAQ:BASE opened at $13.67 on Friday. Couchbase has a 1 year low of $13.60 and a 1 year high of $32.00. The stock has a fifty day moving average price of $17.64 and a two-hundred day moving average price of $21.51. The stock has a market capitalization of $687.74 million, a price-to-earnings ratio of -8.38 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same quarter last year, the firm posted ($0.44) EPS. The business’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Couchbase will post -1.5 EPS for the current year.

Insider Activity

In related news, SVP Margaret Chow sold 2,290 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at approximately $3,849,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Huw Owen sold 7,792 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $16.84, for a total value of $131,217.28. Following the completion of the sale, the senior vice president now owns 405,123 shares of the company’s stock, valued at $6,822,271.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Margaret Chow sold 2,290 shares of Couchbase stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.00, for a total transaction of $45,800.00. Following the transaction, the senior vice president now owns 192,458 shares in the company, valued at approximately $3,849,160. The disclosure for this sale can be found here. Insiders sold 29,012 shares of company stock valued at $553,312 in the last ninety days. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new stake in shares of Couchbase during the 1st quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Couchbase in the second quarter valued at approximately $47,000. Point72 Hong Kong Ltd purchased a new stake in shares of Couchbase during the second quarter valued at approximately $67,000. Harbor Capital Advisors Inc. lifted its position in shares of Couchbase by 23.0% during the second 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 in the last quarter. Finally, StepStone Group LP acquired a new position in shares of Couchbase during the fourth quarter worth $133,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.