Couchbase (NASDAQ:BASE) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Couchbase reported a quarterly earnings per share (EPS) of ($0.29), missing the analysts' estimates by ($0.23).
• The company has a negative net margin of 33.23% and a negative return on equity of 55.25%, indicating financial struggles.
• Analysts have recently downgraded Couchbase's ratings, with multiple firms adjusting their price targets and moving from "buy" to "hold".

Couchbase (NASDAQ:BASE - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.04, Briefing.com reports. Couchbase had a negative net margin of 34.10% and a negative return on equity of 52.42%. The company had revenue of $57.57 million for the quarter, compared to analyst estimates of $55.15 million. During the same period in the previous year, the business posted ($0.06) earnings per share. Couchbase's quarterly revenue was up 11.6% on a year-over-year basis.

Couchbase Price Performance

BASE stock remained flat at $24.44 on Monday. 467,500 shares of the company traded hands, compared to its average volume of 643,154. Couchbase has a 1 year low of $12.78 and a 1 year high of $25.16. The company has a fifty day simple moving average of $24.34 and a two-hundred day simple moving average of $19.78. The firm has a market cap of $1.35 billion, a PE ratio of -17.33 and a beta of 0.93.

Insider Buying and Selling

In related news, 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 transaction of $385,396.44. Following the completion of the transaction, the senior vice president owned 377,820 shares of the company's stock, valued at approximately $9,173,469.60. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew M. Cain sold 63,600 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $24.25, for a total transaction of $1,542,300.00. Following the transaction, the chief executive officer directly owned 888,747 shares of the company's stock, valued at $21,552,114.75. This trade represents a 6.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,452 shares of company stock valued at $3,978,795. Insiders own 16.10% of the company's stock.

Institutional Investors Weigh In On Couchbase

Several large investors have recently made changes to their positions in BASE. Royal Bank of Canada increased its position in shares of Couchbase by 5,995.1% in the first quarter. Royal Bank of Canada now owns 151,037 shares of the company's stock worth $2,379,000 after acquiring an additional 148,559 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Couchbase by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,848 shares of the company's stock worth $376,000 after acquiring an additional 1,487 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Couchbase by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 225,460 shares of the company's stock worth $3,551,000 after acquiring an additional 66,719 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Couchbase in the first quarter worth $271,000. Finally, Woodline Partners LP boosted its stake in shares of Couchbase by 60.7% in the first quarter. Woodline Partners LP now owns 17,069 shares of the company's stock valued at $269,000 after purchasing an additional 6,446 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BASE shares. Robert W. Baird reiterated a "neutral" rating and set a $25.00 price target (up from $22.00) on shares of Couchbase in a research note on Monday, June 23rd. Barclays upped their price target on shares of Couchbase from $22.00 to $24.50 and gave the company an "overweight" rating in a report on Friday, June 20th. Piper Sandler downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating and upped their price target for the company from $20.00 to $24.50 in a report on Friday, June 20th. DA Davidson downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $25.00 to $24.50 in a report on Friday, June 20th. Finally, Needham & Company LLC lowered shares of Couchbase from a "moderate buy" rating to a "hold" rating and set a $22.00 price objective for the company. in a research report on Friday, June 20th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $23.47.

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.