Couchbase (NASDAQ:BASE) Shares Gap Up Following Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE - Get Free Report)'s stock price gapped up before the market opened on Friday after Barclays raised their price target on the stock from $22.00 to $24.50. The stock had previously closed at $18.93, but opened at $24.45. Barclays currently has an overweight rating on the stock. Couchbase shares last traded at $24.65, with a volume of 3,082,204 shares changing hands.

BASE has been the topic of several other research reports. Robert W. Baird raised their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. UBS Group upped their price objective on shares of Couchbase from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Rosenblatt Securities downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating and increased their target price for the stock from $22.00 to $24.50 in a research report on Friday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Couchbase in a research report on Wednesday, June 4th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $22.00 price objective on shares of Couchbase in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Couchbase presently has a consensus rating of "Hold" and an average target price of $22.94.

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 15,938 shares of the firm'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 approximately $6,599,395.57. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Robert Carey sold 2,300 shares of Couchbase stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the sale, the chief financial officer now owns 94,780 shares in the company, valued at approximately $1,848,210. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,904 shares of company stock worth $622,343. Insiders own 16.10% of the company's stock.

Institutional Trading of Couchbase

Large investors have recently bought and sold shares of the stock. MetLife Investment Management LLC increased its stake in shares of Couchbase by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 24,172 shares of the company's stock valued at $377,000 after buying an additional 1,342 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Couchbase in the fourth quarter worth about $249,000. Congress Asset Management Co. acquired a new position in shares of Couchbase during the first quarter worth approximately $5,650,000. Harbor Capital Advisors Inc. lifted its position 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 worth $141,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Couchbase by 11.1% during 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 during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Couchbase Stock Up 0.4%

The business's fifty day moving average is $17.95 and its two-hundred day moving average is $16.81. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -17.94 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) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS. Research analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current year.

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.