Couchbase (NASDAQ:BASE) Coverage Initiated at Needham & Company LLC

Analysts at Needham & Company LLC assumed coverage on shares of Couchbase (NASDAQ:BASE) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $22.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 17.52% from the company’s current price.

BASE has been the topic of several other reports. Robert W. Baird decreased their price target on shares of Couchbase from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. Morgan Stanley dropped their price objective on Couchbase from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday, June 6th. Royal Bank of Canada decreased their price objective on shares of Couchbase from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. DA Davidson dropped their price objective on Couchbase from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Wells Fargo & Company dropped their target price on shares of Couchbase from $37.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.58.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $18.72 on Wednesday. Couchbase has a one year low of $13.97 and a one year high of $32.00. The firm has a market capitalization of $941.80 million, a price-to-earnings ratio of -11.41 and a beta of 0.68. The company’s fifty day moving average price is $22.74 and its 200-day moving average price is $24.45.

Insider Transactions at Couchbase

In other Couchbase news, CFO Gregory N. Henry sold 3,982 shares of Couchbase stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $16.52, for a total value of $65,782.64. Following the completion of the transaction, the chief financial officer now directly owns 393,060 shares of the company’s stock, valued at $6,493,351.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Huw Owen sold 7,792 shares of Couchbase stock in a transaction dated Monday, June 24th. The stock was 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 directly owns 405,123 shares in the company, valued at approximately $6,822,271.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory N. Henry sold 3,982 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $16.52, for a total transaction of $65,782.64. Following the transaction, the chief financial officer now owns 393,060 shares in the company, valued at approximately $6,493,351.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,848 shares of company stock valued at $1,547,562. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in shares of Couchbase during the 1st quarter valued at approximately $26,000. AJOVista LLC purchased a new stake in shares of Couchbase in the fourth quarter worth $74,000. Daiwa Securities Group Inc. bought a new stake in shares of Couchbase during the 4th quarter valued at $92,000. StepStone Group LP purchased a new position in shares of Couchbase during the 4th quarter valued at $133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 during the period. 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.