Couchbase (NASDAQ:BASE) Sets New 1-Year High on Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE - Get Free Report)'s stock price reached a new 52-week high on Saturday after Barclays raised their price target on the stock from $22.00 to $24.50. Barclays currently has an overweight rating on the stock. Couchbase traded as high as $25.16 and last traded at $24.49, with a volume of 13423326 shares trading hands. The stock had previously closed at $18.93.

BASE has been the subject of several other research reports. Robert W. Baird upped their target price on Couchbase from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Guggenheim decreased their price target on Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. DA Davidson lowered shares of Couchbase from a "strong-buy" rating to a "hold" rating and dropped their price objective for the company from $25.00 to $24.50 in a research note on Friday. UBS Group upped their target price on shares of Couchbase from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from $20.00 to $24.50 in a research note on Friday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $23.09.

Insider Activity

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the transaction, the senior vice president now directly owns 427,699 shares of the company's stock, valued at $6,599,395.57. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William Robert Carey sold 1,321 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $25.00, for a total transaction of $33,025.00. Following the completion of the transaction, the chief financial officer now owns 92,443 shares of the company's stock, valued at approximately $2,311,075. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,708 shares of company stock valued at $2,463,649. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Couchbase

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC raised its stake in Couchbase by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 24,172 shares of the company's stock valued at $377,000 after acquiring an additional 1,342 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Couchbase during the fourth quarter valued at $249,000. Congress Asset Management Co. acquired a new position in shares of Couchbase during the first quarter valued at $5,650,000. Harbor Capital Advisors Inc. raised its stake in shares of Couchbase by 33.3% during the first quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company's stock valued at $141,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Couchbase by 11.1% in the fourth quarter. Northern Trust Corp now owns 367,884 shares of the company's stock worth $5,735,000 after purchasing an additional 36,828 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Price Performance

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -17.82 and a beta of 0.82. The firm's fifty day moving average is $18.14 and its two-hundred day moving average is $16.87.

Couchbase (NASDAQ:BASE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $55.59 million. During the same period last year, the firm posted ($0.10) earnings per share. The business's revenue was up 10.1% on a year-over-year basis. On average, equities analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

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.