Couchbase, Inc. (NASDAQ:BASE) Receives $23.16 Consensus PT from Brokerages

Key Points

• Couchbase, Inc. has been given an average consensus rating of "Hold" from 18 analysts, with one rating it as a sell, thirteen as hold, and four as buy.
• The stock's average 1-year price target is estimated at $23.16, with recent price target adjustments by analysts ranging from $22.00 to $25.00.
• The company reported a revenue increase of 10.1% year-over-year along with an EPS of ($0.06), exceeding expectations.

Couchbase, Inc. (NASDAQ:BASE - Get Free Report) has been assigned a consensus rating of "Hold" from the eighteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.1563.

A number of analysts have recently weighed in on the stock. Baird R W downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Wells Fargo & Company lowered Couchbase from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from $20.00 to $24.50 in a research report on Friday, June 20th. Needham & Company LLC cut Couchbase from a "moderate buy" rating to a "hold" rating and set a $22.00 price objective on the stock. in a research note on Friday, June 20th. William Blair downgraded Couchbase from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 20th. Finally, Barclays lifted their target price on Couchbase from $22.00 to $24.50 and gave the stock an "overweight" rating in a report on Friday, June 20th.

Insiders Place Their Bets

In other news, Director Lynn M. Christensen sold 7,933 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total value of $158,739.33. Following the completion of the sale, the director owned 11,987 shares in the company, valued at approximately $239,859.87. This trade represents a 39.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 15,873 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $24.28, for a total value of $385,396.44. Following the transaction, the senior vice president directly owned 377,820 shares in the company, valued at approximately $9,173,469.60. This represents a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 166,452 shares of company stock valued at $3,978,795 over the last three months. 14.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Couchbase

Several hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Couchbase in the 4th quarter valued at $35,000. AlphaQuest LLC raised its stake in shares of Couchbase by 20.5% during the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company's stock worth $57,000 after acquiring an additional 617 shares in the last quarter. CWM LLC lifted its position in Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company's stock valued at $66,000 after acquiring an additional 3,067 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Couchbase by 723.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,230 shares of the company's stock valued at $152,000 after acquiring an additional 5,473 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Couchbase in the first quarter valued at approximately $100,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Couchbase Price Performance

Shares of NASDAQ:BASE traded up $0.02 during midday trading on Friday, hitting $24.44. The company had a trading volume of 609,414 shares, compared to its average volume of 610,794. Couchbase has a 12-month low of $12.78 and a 12-month high of $25.16. The company has a fifty day moving average of $24.34 and a two-hundred day moving average of $19.67. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -17.33 and a beta of 0.93.

Couchbase (NASDAQ:BASE - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $57.57 million during the quarter, compared to analyst estimates of $55.15 million. Couchbase had a negative return on equity of 52.13% and a negative net margin of 34.10%.Couchbase's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Research analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal 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.