Couchbase (NASDAQ:BASE) Rating Lowered to “Hold” at Rosenblatt Securities

Couchbase (NASDAQ:BASE) was downgraded by research analysts at Rosenblatt Securities from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat reports. They presently have a $24.50 price objective on the stock, up from their prior price objective of $22.00. Rosenblatt Securities’ price target would indicate a potential upside of 0.04% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Guggenheim dropped their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley raised their price target on Couchbase from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 4th. The Goldman Sachs Group decreased their price target on Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Robert W. Baird raised their price target on Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Piper Sandler raised their price target on Couchbase from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Couchbase has a consensus rating of “Hold” and a consensus target price of $22.56.

Couchbase Price Performance

NASDAQ BASE opened at $24.49 on Friday. The stock has a market capitalization of $1.32 billion, a PE ratio of -17.88 and a beta of 0.82. The business has a 50 day simple moving average of $17.95 and a two-hundred day simple moving average of $16.81. Couchbase has a 1-year low of $12.78 and a 1-year high of $25.16.

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

Insider Buying and Selling at Couchbase

In other news, SVP Huw Owen sold 15,938 shares of the business’s stock in a transaction on Friday, March 28th. The stock was 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 directly owns 427,699 shares of the company’s stock, valued at approximately $6,599,395.57. The trade was a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lynn M. Christensen sold 7,933 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 value of $158,739.33. Following the completion of the transaction, the director now directly owns 11,987 shares of the company’s stock, valued at approximately $239,859.87. The trade was a 39.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,904 shares of company stock valued at $622,343 in the last ninety days. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BASE. Irenic Capital Management LP purchased a new position in Couchbase during the 1st quarter worth $26,356,000. Hood River Capital Management LLC grew its stake in Couchbase by 38.2% during the 4th quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock worth $42,693,000 after buying an additional 756,394 shares during the last quarter. Wasatch Advisors LP grew its stake in Couchbase by 72.0% during the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock worth $26,554,000 after buying an additional 712,936 shares during the last quarter. Franklin Resources Inc. grew its stake in Couchbase by 26.8% during the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock worth $32,569,000 after buying an additional 441,770 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in Couchbase during the 1st quarter valued at about $5,650,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.