Couchbase (NASDAQ:BASE) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Couchbase, Inc. (NASDAQ:BASE - Get Free Report) saw unusually-strong trading volume on Monday after Barclays raised their price target on the stock from $22.00 to $24.50. Barclays currently has an overweight rating on the stock. Approximately 1,618,632 shares changed hands during trading, an increase of 149% from the previous session's volume of 650,908 shares.The stock last traded at $24.48 and had previously closed at $24.49.

BASE has been the subject of several other research reports. Rosenblatt Securities cut Couchbase from a "strong-buy" rating to a "hold" rating and raised their price target for the company from $22.00 to $24.50 in a report on Friday, June 20th. UBS Group raised their target price on shares of Couchbase from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. William Blair cut shares of Couchbase from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 20th. Morgan Stanley increased their price objective on shares of Couchbase from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Couchbase from $18.00 to $16.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $23.09.

Insider Activity at Couchbase

In related news, CFO William Robert Carey sold 1,321 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $25.00, for a total value of $33,025.00. Following the completion of the sale, the chief financial officer now owns 92,443 shares in the company, valued at approximately $2,311,075. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Huw Owen sold 15,938 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $15.43, for a total value of $245,923.34. Following the transaction, the senior vice president now owns 427,699 shares in the company, valued at $6,599,395.57. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,708 shares of company stock worth $2,463,649 in the last quarter. 14.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Couchbase

Several hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Couchbase in the fourth quarter valued at about $35,000. AlphaQuest LLC increased its position in Couchbase by 20.5% during the 1st quarter. AlphaQuest LLC now owns 3,631 shares of the company's stock valued at $57,000 after purchasing an additional 617 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Couchbase by 22.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company's stock valued at $65,000 after purchasing an additional 759 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Couchbase by 24.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after purchasing an additional 807 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Couchbase by 272.9% in the 1st quarter. CWM LLC now owns 4,191 shares of the company's stock worth $66,000 after purchasing an additional 3,067 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Couchbase Stock Up 1.2%

The stock has a market capitalization of $1.32 billion, a P/E ratio of -17.82 and a beta of 0.82. The stock's 50 day moving average price is $18.52 and its 200-day moving average price is $16.97.

Couchbase (NASDAQ:BASE - Get Free Report) last posted its earnings results 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 return on equity of 55.25% and a negative net margin of 33.23%. The company had revenue of $56.52 million during the quarter, compared to analyst estimates of $55.59 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Couchbase's revenue was up 10.1% on a year-over-year basis. Analysts anticipate that Couchbase, Inc. will post -1.48 earnings per share for the current 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.