Couchbase, Inc. (NASDAQ:BASE) Sees Significant Increase in Short Interest

Couchbase, Inc. (NASDAQ:BASE - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,840,000 shares, an increase of 24.3% from the March 15th total of 1,480,000 shares. Based on an average daily volume of 785,800 shares, the days-to-cover ratio is presently 2.3 days. Approximately 5.3% of the shares of the company are sold short.

Couchbase Trading Up 0.2 %

Shares of BASE traded up $0.03 during trading hours on Friday, reaching $17.07. 640,261 shares of the stock traded hands, compared to its average volume of 577,814. Couchbase has a 52 week low of $12.78 and a 52 week high of $28.67. The stock has a fifty day simple moving average of $15.53 and a 200 day simple moving average of $16.68. The company has a market cap of $921.46 million, a price-to-earnings ratio of -10.67 and a beta of 0.85.

Couchbase (NASDAQ:BASE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.22). The company had revenue of $54.92 million during the quarter, compared to analysts' expectations of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. Analysts predict that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In other Couchbase news, CFO Gregory N. Henry sold 9,820 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.62, for a total value of $173,028.40. Following the transaction, the chief financial officer now directly owns 304,555 shares of the company's stock, valued at $5,366,259.10. This represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the sale, the senior vice president now directly owns 133,067 shares of the company's stock, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,658 shares of company stock valued at $709,172. 16.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Couchbase

Large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its holdings in shares of Couchbase by 38.2% in the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company's stock worth $42,693,000 after acquiring an additional 756,394 shares during the period. Wasatch Advisors LP raised its position in shares of Couchbase by 72.0% during the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock valued at $26,554,000 after buying an additional 712,936 shares in the last quarter. Franklin Resources Inc. lifted its stake in Couchbase by 26.8% during the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock worth $32,569,000 after purchasing an additional 441,770 shares during the last quarter. Congress Asset Management Co. bought a new stake in Couchbase in the 1st quarter worth approximately $5,650,000. Finally, 272 Capital LP bought a new stake in shares of Couchbase in the 3rd quarter worth approximately $3,720,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BASE. Piper Sandler decreased their target price on shares of Couchbase from $22.00 to $16.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group cut their price target on shares of Couchbase from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Couchbase from $25.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price objective on shares of Couchbase in a research report on Wednesday, February 26th. Finally, Guggenheim lowered their price objective on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.41.

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.