UBS Group Cuts Couchbase (NASDAQ:BASE) Price Target to $18.00

Couchbase (NASDAQ:BASE) had its target price dropped by equities research analysts at UBS Group from $19.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential downside of 4.79% from the company’s current price.

Other research analysts have also issued reports about the company. DA Davidson restated a “buy” rating and issued a $25.00 price target on shares of Couchbase in a research report on Wednesday, December 4th. Guggenheim reduced their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada lowered their price target on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley reduced their price objective on Couchbase from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.31.

Couchbase Price Performance

NASDAQ:BASE traded up $2.66 during mid-day trading on Wednesday, reaching $18.91. The stock had a trading volume of 656,755 shares, compared to its average volume of 467,521. The stock has a market cap of $989.69 million, a P/E ratio of -11.83 and a beta of 0.81. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00. The business’s 50 day moving average is $16.90 and its 200 day moving average is $17.02.

Couchbase (NASDAQ:BASE) last released its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. Equities analysts expect that Couchbase will post -1.48 EPS for the current year.

Insider Buying and Selling at Couchbase

In other news, CFO Gregory N. Henry sold 3,853 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the transaction, the chief financial officer now owns 336,679 shares of the company’s stock, valued at $5,097,320.06. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Huw Owen sold 2,993 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.02, for a total transaction of $47,947.86. Following the completion of the sale, the senior vice president now directly owns 325,993 shares of the company’s stock, valued at $5,222,407.86. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock worth $950,915 over the last ninety days. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC lifted its holdings in shares of Couchbase by 38.2% during the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after purchasing an additional 756,394 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Couchbase by 72.0% during the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after purchasing an additional 712,936 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Couchbase by 26.8% in the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock worth $32,569,000 after buying an additional 441,770 shares in the last quarter. Portolan Capital Management LLC increased its position in Couchbase by 77.8% during the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after acquiring an additional 382,851 shares during the last quarter. Finally, 272 Capital LP purchased a new stake in shares of Couchbase during the third quarter valued at $3,720,000. 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.