Couchbase (NASDAQ:BASE) Rating Lowered to “Hold” at Wells Fargo & Company

Couchbase (NASDAQ:BASE) was downgraded by investment analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $24.50 target price on the stock, up from their previous target price of $20.00. Wells Fargo & Company‘s price target points to a potential upside of 0.04% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group lowered their price target on Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. DA Davidson downgraded Couchbase from a “strong-buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $24.50 in a research report on Friday. Royal Bank Of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Couchbase in a report on Wednesday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Couchbase in a report on Monday, June 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Couchbase in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.56.

Couchbase Stock Up 29.4%

Shares of NASDAQ BASE opened at $24.49 on Friday. The business’s 50 day moving average price is $17.95 and its two-hundred day moving average price is $16.81. The company has a market cap of $1.32 billion, a PE ratio of -17.88 and a beta of 0.82. Couchbase has a twelve month low of $12.78 and a twelve month high of $25.16.

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

Insider Buying and Selling at Couchbase

In other news, CFO William Robert Carey sold 2,300 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the transaction, the chief financial officer now owns 94,780 shares of the company’s stock, valued at approximately $1,848,210. The trade was a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $156,738.33. Following the transaction, the chief executive officer now directly owns 952,347 shares of the company’s stock, valued at $19,056,463.47. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,904 shares of company stock valued at $622,343 in the last three months. Corporate insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC raised its holdings in shares of Couchbase by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 24,172 shares of the company’s stock worth $377,000 after buying an additional 1,342 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Couchbase during the 4th quarter worth $249,000. Congress Asset Management Co. acquired a new position in shares of Couchbase during the 1st quarter worth $5,650,000. Harbor Capital Advisors Inc. raised its holdings in shares of Couchbase by 33.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company’s stock worth $141,000 after buying an additional 2,240 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Couchbase by 11.1% during the 4th quarter. Northern Trust Corp now owns 367,884 shares of the company’s stock worth $5,735,000 after buying an additional 36,828 shares in the last quarter. Institutional investors and hedge funds 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.