Couchbase (NASDAQ:BASE) Sees Unusually-High Trading Volume After Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) saw unusually-high trading volume on Monday after Barclays raised their price target on the stock from $22.00 to $24.50. Barclays currently has an overweight rating on the stock. Approximately 1,618,632 shares traded hands during trading, an increase of 149% from the previous session’s volume of 650,908 shares.The stock last traded at $24.48 and had previously closed at $24.49.

A number of other brokerages have also commented on BASE. Guggenheim dropped their price objective on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Rosenblatt Securities lowered shares of Couchbase from a “strong-buy” rating to a “hold” rating and boosted their target price for the stock from $22.00 to $24.50 in a report on Friday, June 20th. UBS Group boosted their target price on shares of Couchbase from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Robert W. Baird increased their target price on shares of Couchbase from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Finally, William Blair downgraded shares of Couchbase from a “strong-buy” rating to a “hold” rating in a report on Friday, June 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Couchbase currently has a consensus rating of “Hold” and an average target price of $23.09.

Insider Transactions at Couchbase

In related news, SVP Huw Owen sold 15,938 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 427,699 shares in the company, valued at $6,599,395.57. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew M. Cain sold 63,600 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $24.25, for a total value of $1,542,300.00. Following the completion of the sale, the chief executive officer now owns 888,747 shares in the company, valued at approximately $21,552,114.75. This represents a 6.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,708 shares of company stock worth $2,463,649. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of large investors have recently bought and sold shares of BASE. Quarry LP purchased a new stake in Couchbase in the 4th quarter worth approximately $35,000. AlphaQuest LLC boosted its position in Couchbase by 20.5% in the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after purchasing an additional 617 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Couchbase by 22.2% in 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 in the last quarter. Summit Investment Advisors Inc. boosted its position in Couchbase by 24.1% in 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 in the last quarter. Finally, CWM LLC boosted its position in Couchbase by 272.9% in 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 in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Trading Down 0.7%

The company has a 50-day simple moving average of $18.33 and a 200 day simple moving average of $16.92. The firm has a market cap of $1.32 billion, a PE ratio of -17.82 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $56.52 million during 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS. On average, equities analysts expect that Couchbase, Inc. will post -1.48 earnings per share for the current year.

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.