Couchbase (NASDAQ:BASE) Earns Buy Rating from Needham & Company LLC

Couchbase (NASDAQ:BASE - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Needham & Company LLC's price objective suggests a potential upside of 13.05% from the company's current price.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price target on shares of Couchbase from $23.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Barclays lowered their price objective on shares of Couchbase from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of Couchbase from $18.00 to $16.00 and set a "sell" rating on the stock in a research report on Thursday, February 27th. Guggenheim decreased their price target on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price objective on Couchbase from $25.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.65.

Couchbase Stock Up 1.7%

NASDAQ:BASE traded up $0.33 during mid-day trading on Wednesday, hitting $19.46. 895,776 shares of the stock traded hands, compared to its average volume of 599,949. Couchbase has a 52 week low of $12.78 and a 52 week high of $21.99. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.16 and a beta of 0.82. The firm's 50 day moving average is $16.82 and its two-hundred day moving average is $16.87.

Couchbase (NASDAQ:BASE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The firm had revenue of $56.52 million for the quarter, compared to the consensus estimate of $55.59 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts predict that Couchbase will post -1.48 EPS for the current year.

Insider Transactions at Couchbase

In related news, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction that occurred on Friday, March 28th. The shares were 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 $6,599,395.57. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Couchbase

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Couchbase by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company's stock valued at $79,916,000 after purchasing an additional 164,563 shares during the last quarter. Hood River Capital Management LLC boosted its position in Couchbase by 38.2% in 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 buying an additional 756,394 shares during the last quarter. EVR Research LP boosted its position in Couchbase by 2.0% in the fourth quarter. EVR Research LP now owns 2,590,000 shares of the company's stock valued at $40,378,000 after buying an additional 50,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in 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 buying an additional 441,770 shares during the period. Finally, Wasatch Advisors LP raised its position in Couchbase by 72.0% during the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock worth $26,554,000 after buying an additional 712,936 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

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.