Couchbase (NASDAQ:BASE) Stock Price Expected to Rise, Barclays Analyst Says

Couchbase (NASDAQ:BASE - Get Free Report) had its price target upped by analysts at Barclays from $22.00 to $24.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target suggests a potential downside of 0.18% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. DA Davidson reiterated a "neutral" rating and set a $24.50 price target (down from $25.00) on shares of Couchbase in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Couchbase in a research report on Wednesday, June 4th. Piper Sandler boosted their target price on Couchbase from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Wells Fargo & Company restated an "equal weight" rating and set a $24.50 price target (up from $20.00) on shares of Couchbase in a research note on Friday. Finally, Guggenheim dropped their price objective on Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.29.

Couchbase Trading Up 29.7%

NASDAQ BASE traded up $5.62 on Friday, reaching $24.55. 10,140,204 shares of the company were exchanged, compared to its average volume of 633,982. The business's fifty day moving average price is $17.77 and its 200 day moving average price is $16.78. The stock has a market capitalization of $1.33 billion, a P/E ratio of -17.92 and a beta of 0.82. Couchbase has a fifty-two week low of $12.78 and a fifty-two week high of $25.42.

Couchbase (NASDAQ:BASE - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Couchbase will post -1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthew M. Cain sold 7,833 shares of the business's stock in a transaction 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 directly owns 952,347 shares of the company's stock, valued at $19,056,463.47. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $19.50, for a total value of $44,850.00. Following the transaction, the chief financial officer now directly owns 94,780 shares in the company, valued at approximately $1,848,210. The trade was a 2.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,904 shares of company stock worth $622,343 over the last 90 days. 14.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Couchbase

Several large investors have recently modified their holdings of BASE. Rhumbline Advisers increased its holdings in shares of Couchbase by 26.2% in the 4th quarter. Rhumbline Advisers now owns 64,229 shares of the company's stock valued at $1,001,000 after acquiring an additional 13,345 shares during the period. Olympiad Research LP purchased a new position in Couchbase during the 4th quarter worth $248,000. Bank of New York Mellon Corp increased its stake in Couchbase by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 134,799 shares of the company's stock valued at $2,102,000 after purchasing an additional 10,333 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Couchbase by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,699 shares of the company's stock valued at $6,185,000 after buying an additional 27,509 shares during the last quarter. Finally, Ceera Investments LLC raised its holdings in shares of Couchbase by 3.0% in the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company's stock valued at $513,000 after buying an additional 960 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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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