Couchbase (NASDAQ:BASE) Stock Rating Lowered by DA Davidson

DA Davidson lowered shares of Couchbase (NASDAQ:BASE - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage currently has $24.50 target price on the stock, down from their previous target price of $25.00.

Several other equities analysts also recently issued reports on BASE. Barclays decreased their price objective on shares of Couchbase from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on Couchbase from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler increased their price objective on Couchbase from $16.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. UBS Group raised their target price on shares of Couchbase from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, 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 report on Wednesday, June 4th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.94.

Couchbase Stock Performance

Shares of NASDAQ:BASE traded up $0.09 on Friday, hitting $24.58. 4,637,684 shares of the company's stock were exchanged, compared to its average volume of 662,461. Couchbase has a 1-year low of $12.78 and a 1-year high of $25.16. The company has a market capitalization of $1.33 billion, a PE ratio of -17.94 and a beta of 0.82. The firm's 50-day moving average is $17.95 and its 200 day moving average is $16.81.

Couchbase (NASDAQ:BASE - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping 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 company had revenue of $56.52 million for the quarter, compared to analysts' expectations of $55.59 million. During the same quarter last year, the company earned ($0.10) earnings per share. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts anticipate that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, CEO Matthew M. Cain sold 7,833 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $156,738.33. Following the sale, the chief executive officer now owns 952,347 shares of the company's stock, valued at $19,056,463.47. The trade was a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lynn M. Christensen sold 7,933 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 11,987 shares in the company, valued at approximately $239,859.87. This represents a 39.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,904 shares of company stock valued at $622,343. 16.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.