Couchbase (NASDAQ:BASE) Shares Gap Up - What's Next?

Couchbase, Inc. (NASDAQ:BASE - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $18.93, but opened at $24.45. Couchbase shares last traded at $24.65, with a volume of 3,082,204 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on BASE shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $22.00 target price on shares of Couchbase in a research note on Wednesday, June 4th. Barclays dropped 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. UBS Group boosted their price objective on Couchbase from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Couchbase in a research note on Monday, June 2nd. Finally, Wells Fargo & Company dropped their target price on Couchbase from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.65.

Couchbase Stock Performance

The company has a market cap of $1.33 billion, a P/E ratio of -17.89 and a beta of 0.82. The business's fifty day moving average is $17.77 and its two-hundred day moving average is $16.78.

Couchbase (NASDAQ:BASE - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $56.52 million during the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The company's revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. Analysts expect that Couchbase, Inc. will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, Director Lynn M. Christensen sold 7,933 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $158,739.33. Following the transaction, the director now directly owns 11,987 shares of the company's stock, valued at approximately $239,859.87. This represents a 39.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew M. Cain sold 7,833 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total value of $156,738.33. Following the completion of the sale, the chief executive officer now owns 952,347 shares in the company, valued at approximately $19,056,463.47. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,904 shares of company stock valued at $622,343. Company insiders own 14.80% of the company's stock.

Institutional Trading of Couchbase

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Couchbase in the fourth quarter valued at approximately $35,000. AlphaQuest LLC lifted its stake in shares of Couchbase by 20.5% in 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. lifted its stake 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 during the period. Summit Investment Advisors Inc. grew its position in Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after buying an additional 807 shares during the period. Finally, CWM LLC increased its holdings in Couchbase by 272.9% in the first quarter. CWM LLC now owns 4,191 shares of the company's stock valued at $66,000 after buying an additional 3,067 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

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.

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