Couchbase (NASDAQ:BASE) Earns "Neutral" Rating from Piper Sandler

Couchbase (NASDAQ:BASE - Get Free Report)'s stock had its "neutral" rating restated by Piper Sandler in a research note issued on Friday,Benzinga reports. They currently have a $24.50 target price on the stock, up from their prior target price of $20.00. Piper Sandler's price target suggests a potential upside of 0.04% from the company's previous close.

BASE has been the topic of several other reports. William Blair reiterated a "market perform" rating on shares of Couchbase in a research note on Friday. Robert W. Baird boosted their price target on Couchbase from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. DA Davidson reiterated a "neutral" rating and set a $24.50 price objective (down from $25.00) on shares of Couchbase in a research note on Friday. Morgan Stanley lifted their price objective on Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $24.50 target price (up previously from $20.00) on shares of Couchbase in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.56.

Couchbase Stock Up 29.4%

BASE traded up $5.56 during trading on Friday, reaching $24.49. 13,412,609 shares of the company's stock were exchanged, compared to its average volume of 646,075. The company has a market capitalization of $1.32 billion, a P/E ratio of -17.88 and a beta of 0.82. The business has a 50 day moving average price of $17.77 and a 200 day moving average price of $16.78. Couchbase has a fifty-two week low of $12.78 and a fifty-two week high of $25.42.

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

Insider Buying and Selling

In other news, CEO Matthew M. Cain sold 7,833 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 $156,738.33. Following the transaction, the chief executive officer now owns 952,347 shares of the company's stock, valued at approximately $19,056,463.47. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Huw Owen sold 15,938 shares of the business'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 transaction of $245,923.34. Following the sale, the senior vice president now directly owns 427,699 shares of the company's stock, valued at approximately $6,599,395.57. This trade represents a 3.59% 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 in the last quarter. Insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Couchbase

Large investors have recently bought and sold shares of the business. Woodline Partners LP grew its holdings in Couchbase by 60.7% during the 1st quarter. Woodline Partners LP now owns 17,069 shares of the company's stock worth $269,000 after acquiring an additional 6,446 shares during the period. Caxton Associates LLP acquired a new stake in shares of Couchbase during the first quarter worth $271,000. Goldman Sachs Group Inc. grew its stake in shares of Couchbase by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 225,460 shares of the company's stock worth $3,551,000 after purchasing an additional 66,719 shares during the period. Petrus Trust Company LTA increased its holdings in Couchbase by 36.6% in the first quarter. Petrus Trust Company LTA now owns 17,971 shares of the company's stock valued at $283,000 after purchasing an additional 4,814 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Couchbase by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,848 shares of the company's stock valued at $376,000 after buying an additional 1,487 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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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