Couchbase (NASDAQ:BASE) Shares Up 4.6% – Should You Buy?

Couchbase, Inc. (NASDAQ:BASE)’s stock price was up 4.6% during mid-day trading on Tuesday . The stock traded as high as $19.47 and last traded at $19.41. Approximately 260,656 shares traded hands during trading, a decline of 46% from the average daily volume of 483,771 shares. The stock had previously closed at $18.55.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BASE. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Couchbase in a research report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Couchbase in a report on Thursday, September 5th. Piper Sandler cut their price target on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Barclays upgraded shares of Couchbase from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective for the company in a research note on Monday, October 7th. Finally, Piper Sandler Companies started coverage on Couchbase in a report on Friday, August 16th. They issued an “overweight” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Stock Performance

The company has a market cap of $1.00 billion, a PE ratio of -12.31 and a beta of 0.59. The stock’s 50-day simple moving average is $15.89 and its 200 day simple moving average is $18.83.

Couchbase (NASDAQ:BASE) last released its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, sell-side analysts predict that Couchbase, Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward T. Anderson purchased 21,080 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $14.16 per share, with a total value of $298,492.80. Following the purchase, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other Couchbase news, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward T. Anderson purchased 21,080 shares of Couchbase stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $14.16 per share, with a total value of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 11,448 shares of company stock worth $180,742. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased 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 during the last quarter. EVR Research LP raised its stake in shares of Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after purchasing an additional 179,585 shares in the last quarter. Hood River Capital Management LLC lifted its position 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 worth $29,762,000 after purchasing an additional 118,372 shares during the last quarter. Pembroke Management LTD grew its stake in Couchbase by 18.1% in the second 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after buying an additional 93,301 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.