Couchbase (NASDAQ:BASE) Downgraded to "Hold" Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Couchbase (NASDAQ:BASE - Free Report) from a strong-buy rating to a hold rating in a research report released on Friday, MarketBeat Ratings reports. The firm currently has $24.50 price target on the stock, up from their previous price target of $20.00.

Other equities research analysts have also recently issued reports about the stock. Guggenheim lowered their price objective on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. UBS Group boosted their price target on Couchbase from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $22.00 target price on shares of Couchbase in a research report on Wednesday, June 4th. Robert W. Baird increased their price target on Couchbase from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Barclays cut their price target on Couchbase from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.94.

Couchbase Trading Up 0.4%

NASDAQ BASE traded up $0.09 during trading hours on Friday, hitting $24.58. 4,637,684 shares of the company's stock traded hands, compared to its average volume of 662,461. Couchbase has a 52 week low of $12.78 and a 52 week high of $25.16. The firm has a market capitalization of $1.33 billion, a P/E ratio of -17.94 and a beta of 0.82. The business's fifty day moving average price is $17.95 and its two-hundred day moving average price is $16.81.

Couchbase (NASDAQ:BASE - Get Free Report) last issued its 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 net margin of 33.23% and a negative return on equity of 55.25%. The company had revenue of $56.52 million during the quarter, compared to the consensus estimate of $55.59 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. Couchbase's quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Activity

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $15.43, for a total value of $245,923.34. Following the transaction, the senior vice president now directly owns 427,699 shares of the company's stock, valued at $6,599,395.57. This represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn M. Christensen sold 7,933 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $20.01, for a total transaction of $158,739.33. Following the transaction, the director now owns 11,987 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 34,904 shares of company stock worth $622,343. 16.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Irenic Capital Management LP bought a new stake in Couchbase in the first quarter valued at approximately $26,356,000. Hood River Capital Management LLC increased its holdings in shares of Couchbase by 38.2% during the 4th quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company's stock worth $42,693,000 after acquiring an additional 756,394 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of 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 acquiring an additional 712,936 shares during the last quarter. Franklin Resources Inc. raised its stake in Couchbase by 26.8% in the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock valued at $32,569,000 after acquiring an additional 441,770 shares during the period. Finally, Congress Asset Management Co. acquired a new stake in Couchbase during 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.