Couchbase's (BASE) "Neutral" Rating Reiterated at Rosenblatt Securities

Couchbase (NASDAQ:BASE - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at Rosenblatt Securities in a note issued to investors on Friday,Benzinga reports. They presently have a $24.50 price objective on the stock, up from their prior price objective of $22.00. Rosenblatt Securities' target price suggests a potential downside of 0.18% from the company's current price.

BASE has been the subject of a number of other research reports. Barclays lowered their price target on Couchbase from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Guggenheim dropped their target price on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Piper Sandler lifted their price target on shares of Couchbase from $16.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. William Blair reissued a "market perform" rating on shares of Couchbase in a research note on Friday. Finally, Needham & Company LLC restated a "buy" rating and issued a $22.00 target price on shares of Couchbase in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.29.

Couchbase Price Performance

Couchbase stock traded up $5.62 during mid-day trading on Friday, reaching $24.55. 10,140,204 shares of the company were exchanged, compared to its average volume of 633,982. The firm has a market cap of $1.33 billion, a PE ratio of -17.92 and a beta of 0.82. The company has a fifty day simple moving average of $17.77 and a 200-day simple moving average of $16.78. Couchbase has a 12 month low of $12.78 and a 12 month high of $25.42.

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

Insider Buying and Selling

In other Couchbase news, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $15.43, for a total value 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. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lynn M. Christensen sold 7,933 shares of the business'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 $158,739.33. Following the completion of the transaction, the director now directly owns 11,987 shares in the company, valued at approximately $239,859.87. This trade represents a 39.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,904 shares of company stock valued at $622,343 over the last quarter. Insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Couchbase

Several institutional investors have recently made changes to their positions in the stock. Irenic Capital Management LP acquired a new position in Couchbase during the 1st quarter worth approximately $26,356,000. Hood River Capital Management LLC increased its holdings in shares of Couchbase by 38.2% during the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company's stock valued at $42,693,000 after acquiring an additional 756,394 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Couchbase by 72.0% during the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock worth $26,554,000 after purchasing an additional 712,936 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Couchbase by 26.8% in the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock worth $32,569,000 after purchasing an additional 441,770 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new stake in Couchbase in the 1st quarter valued at $5,650,000. 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.

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