Couchbase (NASDAQ:BASE) Reaches New 12-Month Low – Here’s Why

Couchbase, Inc. (NASDAQ:BASE) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.36 and last traded at $13.56, with a volume of 55116 shares traded. The stock had previously closed at $13.68.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BASE shares. Truist Financial started coverage on shares of Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price target on the stock. DA Davidson reaffirmed a “buy” rating and set a $25.00 price target on shares of Couchbase in a research report on Wednesday, December 4th. The Goldman Sachs Group dropped their price target on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. UBS Group dropped their price target on shares of Couchbase from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Price Performance

The firm has a market capitalization of $689.42 million, a P/E ratio of -8.23 and a beta of 0.81. The business’s 50-day moving average is $17.00 and its 200 day moving average is $16.77.

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

Insiders Place Their Bets

In other Couchbase news, SVP Huw Owen sold 2,993 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.02, for a total transaction of $47,947.86. Following the sale, the senior vice president now directly owns 325,993 shares in the company, valued at $5,222,407.86. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was 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 in the company, valued at $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 have sold 54,883 shares of company stock worth $950,915 over the last ninety days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of hedge funds have recently made changes to their positions in BASE. Hood River Capital Management LLC boosted its stake in shares of 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 purchasing an additional 756,394 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Couchbase by 72.0% in 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 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 valued at $32,569,000 after purchasing an additional 441,770 shares in the last quarter. Portolan Capital Management LLC boosted its stake in shares of Couchbase by 77.8% in the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after purchasing an additional 382,851 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in shares of Couchbase in the 3rd quarter valued at approximately $3,720,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.