Couchbase (NASDAQ:BASE) Lowered to "Hold" Rating by William Blair

Couchbase (NASDAQ:BASE - Get Free Report) was downgraded by equities researchers at William Blair from a "strong-buy" rating to a "hold" rating in a report released on Friday, Marketbeat reports.

BASE has been the subject of several other research reports. Wells Fargo & Company lowered shares of Couchbase from a "strong-buy" rating to a "hold" rating and raised their price target for the stock from $20.00 to $24.50 in a report on Friday. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price objective on shares of Couchbase in a research report on Wednesday, June 4th. Piper Sandler lifted their target price on shares of Couchbase from $16.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $22.00 price target on shares of Couchbase in a research report on Wednesday, June 4th. Finally, Morgan Stanley increased their price target on Couchbase from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.94.

Couchbase Trading Up 0.4%

Couchbase stock traded up $0.09 during mid-day trading on Friday, reaching $24.58. The company had a trading volume of 4,637,684 shares, compared to its average volume of 662,461. The business has a fifty day simple moving average of $17.95 and a 200 day simple moving average of $16.81. The company has a market cap of $1.33 billion, a P/E ratio of -17.94 and a beta of 0.82. Couchbase has a fifty-two week low of $12.78 and a fifty-two week high of $25.16.

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

Insiders Place Their Bets

In other news, CEO Matthew M. Cain sold 7,833 shares of the company'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 completion of the sale, the chief executive officer now directly owns 952,347 shares in the company, valued at $19,056,463.47. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lynn M. Christensen sold 7,933 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total value of $158,739.33. Following the completion of the transaction, the director now directly owns 11,987 shares in the company, valued at $239,859.87. This trade represents a 39.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,904 shares of company stock valued at $622,343. Corporate insiders own 16.10% of the company's stock.

Hedge Funds Weigh In On Couchbase

Several institutional investors have recently bought and sold shares of BASE. Quarry LP bought a new position in Couchbase during the fourth quarter valued at approximately $35,000. AlphaQuest LLC raised its holdings 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. Daiwa Securities Group Inc. boosted its position in shares of Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company's stock valued at $65,000 after acquiring an additional 759 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Couchbase by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after acquiring an additional 807 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Couchbase by 272.9% in the first quarter. CWM LLC now owns 4,191 shares of the company's stock valued at $66,000 after purchasing an additional 3,067 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.