Couchbase (NASDAQ:BASE) Shares Gap Up Following Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) gapped up prior to trading on Wednesday after Piper Sandler raised their price target on the stock from $21.00 to $22.00. The stock had previously closed at $16.25, but opened at $18.11. Piper Sandler currently has an overweight rating on the stock. Couchbase shares last traded at $17.73, with a volume of 238,618 shares.

Several other analysts have also commented on the stock. Barclays lifted their price objective on shares of Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Wednesday. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Stifel Nicolaus raised their target price on Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird dropped their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.31.

Insiders Place Their Bets

In other news, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.14, for a total transaction of $58,334.42. Following the completion of the transaction, the chief financial officer now owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the completion of the transaction, the senior vice president now directly owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. This represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,883 shares of company stock worth $950,915 in the last three months. 16.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Couchbase by 242.9% in the 3rd quarter. Barclays PLC now owns 75,602 shares of the company’s stock valued at $1,218,000 after purchasing an additional 53,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Couchbase by 33.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after acquiring an additional 93,301 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Couchbase by 169.8% in the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after acquiring an additional 120,975 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Couchbase in the third quarter valued at $772,000. Finally, 272 Capital LP purchased a new position in Couchbase during the 3rd quarter valued at $3,720,000. Institutional investors own 96.07% of the company’s stock.

Couchbase Trading Up 12.4 %

The company’s fifty day simple moving average is $16.96 and its 200 day simple moving average is $17.03. The firm has a market capitalization of $955.87 million, a P/E ratio of -11.41 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) 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 company had revenue of $54.92 million during the quarter, compared to the consensus estimate of $53.25 million. On average, analysts predict that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

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.