Couchbase (NASDAQ:BASE) Price Target Cut to $20.00

Couchbase (NASDAQ:BASE) had its price target dropped by analysts at Barclays from $27.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 9.89% from the company’s current price.

A number of other equities research analysts have also recently commented on BASE. The Goldman Sachs Group cut Couchbase from a “neutral” rating to a “sell” rating and cut their target price for the stock from $30.00 to $18.00 in a research note on Thursday, June 6th. Piper Sandler assumed coverage on shares of Couchbase in a report on Friday, August 16th. They issued an “overweight” rating and a $22.00 target price for the company. UBS Group began coverage on shares of Couchbase in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $31.00 price objective for the company. Robert W. Baird cut their target price on Couchbase from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. Finally, Piper Sandler Companies initiated 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 analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Couchbase currently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

Couchbase Trading Down 0.5 %

Shares of NASDAQ:BASE opened at $18.20 on Monday. Couchbase has a 12-month low of $14.12 and a 12-month high of $32.00. The stock’s 50-day moving average price is $18.00 and its 200-day moving average price is $23.09. The stock has a market capitalization of $915.64 million, a P/E ratio of -11.10 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last posted its earnings results on Wednesday, June 5th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The firm had revenue of $51.33 million for the quarter, compared to analysts’ expectations of $48.52 million. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. As a group, research analysts predict that Couchbase will post -1.45 EPS for the current year.

Insider Activity

In related news, CEO Matthew M. Cain sold 18,101 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.05, for a total transaction of $399,127.05. Following the completion of the transaction, the chief executive officer now owns 855,304 shares in the company, valued at $18,859,453.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Gregory N. Henry sold 3,982 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $16.52, for a total value of $65,782.64. Following the sale, the chief financial officer now owns 393,060 shares of the company’s stock, valued at $6,493,351.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew M. Cain sold 18,101 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.05, for a total transaction of $399,127.05. Following the completion of the sale, the chief executive officer now directly owns 855,304 shares in the company, valued at $18,859,453.20. The disclosure for this sale can be found here. Insiders have sold a total of 63,062 shares of company stock worth $1,304,698 over the last quarter. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BASE. Andar Capital Management HK Ltd bought a new stake in shares of Couchbase during the fourth quarter worth $1,216,000. Acadian Asset Management LLC increased its position in shares of Couchbase by 346.2% during the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after acquiring an additional 204,396 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Couchbase during the first quarter valued at approximately $9,059,000. Vanguard Group Inc. boosted its holdings 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 valued at $106,014,000 after purchasing an additional 227,828 shares during the period. Finally, Sei Investments Co. grew its stake in Couchbase by 918.4% in the first quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock worth $3,150,000 after purchasing an additional 107,962 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.