Couchbase (NASDAQ:BASE) Given New $20.00 Price Target at Wells Fargo & Company

Couchbase (NASDAQ:BASE) had its target price reduced by Wells Fargo & Company from $23.00 to $20.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts also recently commented on BASE. Morgan Stanley cut their target price on Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Couchbase in a research report on Wednesday. Barclays reduced their target price on Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on shares of Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Couchbase has a consensus rating of “Moderate Buy” and an average target price of $22.31.

Couchbase Price Performance

Shares of NASDAQ BASE opened at $18.26 on Wednesday. The company has a 50 day simple moving average of $16.96 and a 200 day simple moving average of $17.03. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00. The firm has a market cap of $955.87 million, a PE ratio of -11.41 and a beta of 0.81.

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

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 7,575 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $115,291.50. Following the transaction, the senior vice president now directly owns 341,709 shares of the company’s stock, valued at $5,200,810.98. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Margaret Chow sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the transaction, the senior vice president now owns 133,067 shares in the company, valued at approximately $2,436,456.77. This represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,883 shares of company stock valued at $950,915 in the last 90 days. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

Several hedge funds and other institutional investors have recently made changes to their positions in BASE. Vanguard Group Inc. lifted its position in Couchbase by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company’s stock valued at $79,916,000 after acquiring an additional 164,563 shares in the last quarter. Hood River Capital Management LLC increased its stake in Couchbase by 38.2% in the 4th quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after buying an additional 756,394 shares during the last quarter. EVR Research LP lifted its position in shares of Couchbase by 2.0% during the 4th quarter. EVR Research LP now owns 2,590,000 shares of the company’s stock worth $40,378,000 after buying an additional 50,000 shares in the last quarter. Franklin Resources Inc. boosted 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 during the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Couchbase by 72.0% in the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after acquiring an additional 712,936 shares in the last quarter. 96.07% of the stock is owned by 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.