Royal Bank of Canada Cuts Couchbase (NASDAQ:BASE) Price Target to $22.00

Couchbase (NASDAQ:BASE) had its price target decreased by Royal Bank of Canada from $25.00 to $22.00 in a research note published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on BASE. Wells Fargo & Company lowered their price target on Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Guggenheim lowered their price target on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler raised their price target on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Robert W. Baird lowered their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One equities research 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.19.

Couchbase Stock Performance

Shares of BASE stock opened at $17.65 on Wednesday. The stock’s 50-day moving average is $17.05 and its two-hundred day moving average is $17.04. The firm has a market cap of $923.94 million, a price-to-earnings ratio of -11.03 and a beta of 0.81. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data 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 firm had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. As a group, research analysts predict that Couchbase will post -1.48 EPS for the current year.

Insider Activity at Couchbase

In other news, SVP Huw Owen sold 2,993 shares of Couchbase stock in a transaction that occurred 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 in the company, valued at approximately $5,222,407.86. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the sale, the senior vice president now owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,883 shares of company stock worth $950,915 over the last 90 days. Company insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp purchased a new position in shares of Couchbase during the 4th quarter worth approximately $382,000. Two Sigma Advisers LP increased its stake in shares of Couchbase by 32.4% during the 4th quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock worth $745,000 after purchasing an additional 11,700 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Couchbase by 36.7% during the 4th quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock worth $231,000 after purchasing an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Couchbase by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock worth $349,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Couchbase by 5.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 588,439 shares of the company’s stock worth $9,174,000 after purchasing an additional 32,078 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.