Couchbase (NASDAQ:BASE) Earns Hold Rating from Needham & Company LLC

Couchbase (NASDAQ:BASE - Get Free Report)'s stock had its "hold" rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $22.00 target price on the stock. Needham & Company LLC's target price suggests a potential downside of 10.17% from the stock's current price.

Several other equities research analysts have also recently commented on BASE. Piper Sandler boosted their price target on Couchbase from $16.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Robert W. Baird lifted their target price on shares of Couchbase from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Wells Fargo & Company reissued an "equal weight" rating and issued a $24.50 target price (up from $20.00) on shares of Couchbase in a research report on Friday. Morgan Stanley raised their price target on shares of Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group reduced their price objective on shares of Couchbase from $18.00 to $16.00 and set a "sell" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.56.

Couchbase Stock Up 29.4%

Shares of Couchbase stock traded up $5.56 on Friday, hitting $24.49. 13,412,609 shares of the company traded hands, compared to its average volume of 646,075. Couchbase has a 12-month low of $12.78 and a 12-month high of $25.42. The company has a market cap of $1.32 billion, a PE ratio of -17.88 and a beta of 0.82. The company has a 50-day moving average price of $17.77 and a 200 day moving average price of $16.78.

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

Insider Buying and Selling at Couchbase

In related news, Director Lynn M. Christensen sold 7,933 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total transaction of $158,739.33. Following the transaction, the director now owns 11,987 shares of the company's stock, valued at approximately $239,859.87. The trade was a 39.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the sale, the chief financial officer now directly owns 94,780 shares of the company's stock, valued at approximately $1,848,210. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,904 shares of company stock worth $622,343 over the last ninety days. Company insiders own 14.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BASE. Irenic Capital Management LP bought a new stake in shares of Couchbase in the first quarter valued at about $26,356,000. Hood River Capital Management LLC raised its holdings in Couchbase by 38.2% in the 4th quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company's stock valued at $42,693,000 after acquiring an additional 756,394 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Couchbase by 72.0% in the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock worth $26,554,000 after acquiring an additional 712,936 shares during the period. Franklin Resources Inc. lifted its position in shares of Couchbase by 26.8% in the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock worth $32,569,000 after acquiring an additional 441,770 shares during the period. Finally, Congress Asset Management Co. acquired a new stake in shares of Couchbase during the 1st quarter worth approximately $5,650,000. Institutional investors 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.

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