Royal Bank of Canada Reaffirms Outperform Rating for Couchbase (NASDAQ:BASE)

Royal Bank of Canada restated their outperform rating on shares of Couchbase (NASDAQ:BASE) in a report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $22.00 target price on the stock.

A number of other equities research analysts have also issued reports on BASE. Wells Fargo & Company decreased their target price on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of Couchbase from $23.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Guggenheim decreased their target price on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. UBS Group decreased their target price on shares of Couchbase from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler lifted their target price on shares of Couchbase from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.65.

Couchbase Stock Performance

Couchbase stock opened at $19.13 on Wednesday. The company has a 50 day moving average price of $16.82 and a 200 day moving average price of $16.87. Couchbase has a 52 week low of $12.78 and a 52 week high of $21.99. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -11.96 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $56.52 million during the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS. Equities analysts forecast that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Huw Owen sold 15,938 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $15.43, for a total transaction of $245,923.34. Following the transaction, the senior vice president now owns 427,699 shares in the company, valued at approximately $6,599,395.57. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Couchbase during the 4th quarter worth about $35,000. AlphaQuest LLC increased its holdings in shares of Couchbase by 20.5% during the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after purchasing an additional 617 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Couchbase by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after purchasing an additional 807 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares during the period. Finally, CWM LLC increased its holdings in shares of Couchbase by 272.9% during the 1st quarter. CWM LLC now owns 4,191 shares of the company’s stock worth $66,000 after purchasing an additional 3,067 shares during the period. Institutional investors own 96.07% of the company’s stock.

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.