Couchbase (NASDAQ:BASE) Stock Price Expected to Rise, Barclays Analyst Says

Couchbase (NASDAQ:BASE) had its target price upped by analysts at Barclays from $22.00 to $24.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 0.04% from the company’s previous close.

BASE has been the topic of several other reports. UBS Group boosted their target price on Couchbase from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. Robert W. Baird boosted their target price on Couchbase from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Couchbase in a research note on Wednesday, June 4th. Piper Sandler boosted their target price on Couchbase from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Couchbase 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 given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.56.

Couchbase Price Performance

Shares of Couchbase stock opened at $24.49 on Friday. The business’s 50 day simple moving average is $17.95 and its two-hundred day simple moving average is $16.81. The stock has a market capitalization of $1.32 billion, a P/E ratio of -17.88 and a beta of 0.82. Couchbase has a one year low of $12.78 and a one year high of $25.16.

Couchbase (NASDAQ:BASE) last announced its quarterly 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 business had revenue of $56.52 million for 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 business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. Sell-side analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Couchbase news, 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 sale, the chief executive officer now directly owns 952,347 shares of the company’s stock, valued at approximately $19,056,463.47. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the senior vice president now directly owns 427,699 shares in the company, valued at $6,599,395.57. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,904 shares of company stock valued at $622,343. 14.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Couchbase in the fourth quarter worth $35,000. AlphaQuest LLC raised its stake in shares of Couchbase by 20.5% in the first quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after purchasing an additional 617 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Couchbase by 22.2% in the fourth 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 last quarter. Summit Investment Advisors Inc. raised its stake 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 worth $65,000 after purchasing an additional 807 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Couchbase by 272.9% in the first 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 last quarter. Hedge funds and other 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.