Couchbase’s (BASE) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $22.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on BASE. Royal Bank of Canada reduced their price objective on Couchbase from $35.00 to $31.00 and set an outperform rating for the company in a research note on Thursday, June 6th. Robert W. Baird reduced their price objective on Couchbase from $32.00 to $27.00 and set an outperform rating for the company in a research note on Thursday. Guggenheim reiterated a buy rating and issued a $30.00 price objective on shares of Couchbase in a research note on Tuesday, June 25th. UBS Group initiated coverage on Couchbase in a research note on Wednesday, May 22nd. They issued a neutral rating and a $31.00 price objective for the company. Finally, Morgan Stanley reduced 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $22.93.

Couchbase Stock Down 1.6 %

Shares of BASE opened at $15.85 on Thursday. The stock has a 50 day moving average price of $18.22 and a 200 day moving average price of $22.26. The company has a market capitalization of $797.41 million, a price-to-earnings ratio of -9.66 and a beta of 0.61. Couchbase has a 52-week low of $14.12 and a 52-week high of $32.00.

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. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) earnings per share. On average, equities analysts anticipate that Couchbase will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew M. Cain sold 8,953 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $20.01, for a total transaction of $179,149.53. Following the transaction, the chief executive officer now owns 776,437 shares of the company’s stock, valued at $15,536,504.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Huw Owen sold 7,792 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $16.84, for a total transaction of $131,217.28. Following the transaction, the senior vice president now owns 405,123 shares of the company’s stock, valued at $6,822,271.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew M. Cain sold 8,953 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total value of $179,149.53. Following the completion of the sale, the chief executive officer now directly owns 776,437 shares in the company, valued at approximately $15,536,504.37. The disclosure for this sale can be found here. Insiders have sold 35,987 shares of company stock valued at $668,568 over the last quarter. Company insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Couchbase by 346.2% in the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock valued at $6,928,000 after purchasing an additional 204,396 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Couchbase in the first quarter valued at $9,059,000. Vanguard Group Inc. grew its holdings in 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 last quarter. Sei Investments Co. grew its holdings in Couchbase by 918.4% in the first quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock valued at $3,150,000 after purchasing an additional 107,962 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Couchbase by 21.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 190,103 shares of the company’s stock valued at $5,002,000 after purchasing an additional 33,754 shares during the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.