Couchbase (NASDAQ:BASE) Lowered to "Hold" Rating by Rosenblatt Securities

Rosenblatt Securities cut shares of Couchbase (NASDAQ:BASE - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage currently has $24.50 target price on the stock, up from their previous target price of $22.00.

A number of other brokerages also recently weighed in on BASE. 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. Guggenheim lowered their price target on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. William Blair downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company cut shares of Couchbase from a "strong-buy" rating to a "hold" rating and increased their target price for the company from $20.00 to $24.50 in a research report on Friday. Finally, DA Davidson downgraded shares of Couchbase from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $25.00 to $24.50 in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.94.

Couchbase Stock Performance

Couchbase stock traded up $0.09 during mid-day trading on Friday, hitting $24.58. The company's stock had a trading volume of 4,637,684 shares, compared to its average volume of 662,461. The company has a 50 day moving average of $17.95 and a 200-day moving average of $16.81. Couchbase has a one year low of $12.78 and a one year high of $25.16. The stock has a market cap of $1.33 billion, a PE ratio of -17.94 and a beta of 0.82.

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

Insider Buying and Selling

In related 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 sale, the senior vice president now directly owns 427,699 shares in the company, valued at approximately $6,599,395.57. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn M. Christensen sold 7,933 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total transaction of $158,739.33. Following the completion of the transaction, the director now owns 11,987 shares in the company, valued at $239,859.87. The trade was a 39.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,904 shares of company stock worth $622,343. 16.10% of the stock is owned by insiders.

Institutional Trading of Couchbase

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaQuest LLC raised its position in shares of 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 buying an additional 617 shares during the period. Bank of New York Mellon Corp increased its stake in Couchbase by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 135,495 shares of the company's stock worth $2,134,000 after acquiring an additional 696 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company's stock worth $65,000 after acquiring an additional 759 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Couchbase by 24.1% in the fourth 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 during the period. Finally, Ceera Investments LLC lifted its stake in shares of Couchbase by 3.0% in the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company's stock valued at $513,000 after purchasing an additional 960 shares during the last quarter. Institutional investors and hedge funds 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.