Couchbase (NASDAQ:BASE) Shares Gap Down - Time to Sell?

Couchbase, Inc. (NASDAQ:BASE - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $18.56, but opened at $18.07. Couchbase shares last traded at $18.60, with a volume of 270,894 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BASE. Piper Sandler upped their target price on Couchbase from $16.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price target on shares of Couchbase in a research report on Wednesday. Royal Bank of Canada reiterated an "outperform" rating and set a $22.00 target price on shares of Couchbase in a research note on Wednesday. UBS Group lifted their price objective on Couchbase from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $20.00 target price on shares of Couchbase in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.65.

Couchbase Price Performance

The stock's 50 day simple moving average is $16.95 and its two-hundred day simple moving average is $16.84. The company has a market capitalization of $1.04 billion, a P/E ratio of -12.01 and a beta of 0.82.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The firm had revenue of $56.52 million during the quarter, compared to analysts' expectations of $55.59 million. During the same period in the previous year, the business posted ($0.10) EPS. The company's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Couchbase, Inc. will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO William Robert Carey sold 2,300 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total value of $44,850.00. Following the completion of the sale, the chief financial officer now owns 94,780 shares in the company, valued at $1,848,210. This represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction dated Friday, March 28th. The shares were 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. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,138 shares of company stock valued at $306,865 over the last three months. Company insiders own 14.80% of the company's stock.

Institutional Trading of Couchbase

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

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.