Couchbase (NASDAQ:BASE) Earns "Outperform" Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Couchbase (NASDAQ:BASE - Free Report) in a report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $22.00 target price on the stock.

Several other research firms have also recently commented on BASE. Piper Sandler raised their target price on shares of Couchbase from $16.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday. Guggenheim decreased their target price on Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on Couchbase from $18.00 to $16.00 and set a "sell" rating for the company in a research report on Thursday, February 27th. UBS Group reduced their price target on Couchbase from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price objective on shares of Couchbase in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $21.65.

Couchbase Stock Performance

Shares of BASE stock traded up $0.33 on Wednesday, hitting $19.46. 895,776 shares of the company's stock traded hands, compared to its average volume of 598,721. Couchbase has a one year low of $12.78 and a one year high of $21.54. The company's fifty day simple moving average is $16.82 and its 200 day simple moving average is $16.87. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.16 and a beta of 0.82.

Couchbase (NASDAQ:BASE - Get Free Report) last released its 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 39.31% and a negative return on equity of 57.22%. The company had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. During the same quarter last year, the firm earned ($0.10) EPS. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction 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 owns 427,699 shares of the company's stock, valued at $6,599,395.57. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Couchbase

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in Couchbase by 12.2% during the 4th quarter. SG Americas Securities LLC now owns 13,546 shares of the company's stock worth $211,000 after acquiring an additional 1,472 shares during the period. Rhumbline Advisers lifted its stake in shares of Couchbase by 26.2% during the 4th quarter. Rhumbline Advisers now owns 64,229 shares of the company's stock valued at $1,001,000 after buying an additional 13,345 shares in the last quarter. Pembroke Management LTD increased its stake in Couchbase by 12.2% in the 4th quarter. Pembroke Management LTD now owns 898,842 shares of the company's stock worth $14,013,000 after buying an additional 98,061 shares in the last quarter. Maytree Asset Management Ltd purchased a new stake in Couchbase in the 4th quarter worth $376,000. Finally, Olympiad Research LP bought a new stake in Couchbase during the fourth quarter valued at about $248,000. Institutional investors own 96.07% of the company's stock.

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.