Couchbase (NASDAQ:BASE) Rating Lowered to Hold at DA Davidson

Couchbase (NASDAQ:BASE) was downgraded by equities research analysts at DA Davidson from a “strong-buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $24.50 target price on the stock, down from their previous target price of $25.00. DA Davidson’s price objective suggests a potential upside of 0.04% from the stock’s current price.

A number of other brokerages have also weighed in on BASE. UBS Group boosted their price objective on shares of Couchbase from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Guggenheim decreased their price objective on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of Couchbase from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 4th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Couchbase in a research note on Monday, June 2nd. Finally, Piper Sandler boosted 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, June 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.56.

Couchbase Stock Performance

Couchbase stock opened at $24.49 on Friday. The stock’s 50 day simple moving average is $17.95 and its two-hundred day simple moving average is $16.81. Couchbase has a fifty-two week low of $12.78 and a fifty-two week high of $25.16. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -17.88 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last released its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The firm had revenue of $56.52 million during the quarter, compared to analyst estimates of $55.59 million. During the same period last year, the business earned ($0.10) earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Couchbase will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Huw Owen sold 15,938 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $15.43, for a total value 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 approximately $6,599,395.57. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew M. Cain sold 7,833 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $156,738.33. Following the completion of the sale, the chief executive officer now owns 952,347 shares in the company, valued at approximately $19,056,463.47. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,904 shares of company stock valued at $622,343. Company insiders own 14.80% of the company’s stock.

Institutional Trading of Couchbase

Several hedge funds have recently bought and sold shares of BASE. Irenic Capital Management LP purchased a new stake in Couchbase in the 1st quarter worth $26,356,000. Hood River Capital Management LLC raised its position in shares of Couchbase by 38.2% during 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 buying an additional 756,394 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Couchbase by 72.0% during the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after buying an additional 712,936 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Couchbase by 26.8% during the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock valued at $32,569,000 after buying an additional 441,770 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new stake in shares of Couchbase during the 1st quarter valued at about $5,650,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.