Rosenblatt Securities Initiates Coverage on Couchbase (NASDAQ:BASE)

Rosenblatt Securities started coverage on shares of Couchbase (NASDAQ:BASE) in a report published on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $20.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial started coverage on shares of Couchbase in a research report on Thursday, December 12th. They issued a “buy” rating and a $21.00 price objective on the stock. UBS Group lowered their target price on shares of Couchbase from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Piper Sandler lifted their price objective on Couchbase from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Barclays dropped their target price on Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

Couchbase Stock Performance

NASDAQ BASE opened at $15.21 on Wednesday. The firm’s fifty day moving average is $16.18 and its two-hundred day moving average is $16.66. Couchbase has a one year low of $12.78 and a one year high of $28.67. The firm has a market cap of $807.65 million, a PE ratio of -9.51 and a beta of 0.85.

Couchbase (NASDAQ:BASE) last issued 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 company 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%. Research analysts predict that Couchbase will post -1.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction on Friday, March 28th. The stock was sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the transaction, the senior vice president now owns 427,699 shares of the company’s stock, valued at $6,599,395.57. The trade was a 3.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Margaret Chow sold 15,000 shares of the business’s 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 completion of the sale, the senior vice president now owns 133,067 shares in the company, valued at $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. Over the last ninety days, insiders have sold 56,400 shares of company stock worth $975,265. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of Couchbase

Large investors have recently modified their holdings of the business. Quarry LP purchased a new stake in Couchbase in the 4th quarter valued at approximately $35,000. Summit Investment Advisors Inc. lifted its position in shares of Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after acquiring an additional 807 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after acquiring an additional 759 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Couchbase during the fourth quarter valued at $112,000. Finally, Dark Forest Capital Management LP purchased a new stake in Couchbase during the 4th quarter worth about $165,000. 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.