Wells Fargo & Company Reaffirms "Equal Weight" Rating for Couchbase (NASDAQ:BASE)

Couchbase (NASDAQ:BASE - Get Free Report)'s stock had its "equal weight" rating reiterated by equities research analysts at Wells Fargo & Company in a research report issued on Friday,Benzinga reports. They presently have a $24.50 target price on the stock, up from their prior target price of $20.00. Wells Fargo & Company's target price indicates a potential downside of 0.18% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Couchbase from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. UBS Group raised their price objective on shares of Couchbase from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. DA Davidson reissued a "neutral" rating and issued a $24.50 target price (down from $25.00) on shares of Couchbase in a report on Friday. Royal Bank Of Canada restated an "outperform" rating and set a $22.00 price target on shares of Couchbase in a research report on Wednesday, June 4th. Finally, Guggenheim cut their price objective on Couchbase from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.29.

Couchbase Stock Up 29.7%

NASDAQ BASE traded up $5.62 during midday trading on Friday, hitting $24.55. The company had a trading volume of 10,140,204 shares, compared to its average volume of 830,155. The firm has a fifty day simple moving average of $17.77 and a two-hundred day simple moving average of $16.78. Couchbase has a fifty-two week low of $12.78 and a fifty-two week high of $25.16. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -17.92 and a beta of 0.82.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $56.52 million for the quarter, compared to analyst estimates 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 last year, the firm earned ($0.10) EPS. As a group, equities analysts predict that Couchbase will post -1.48 earnings per share for the current year.

Insider Activity

In other news, SVP Huw Owen sold 15,938 shares of the firm's 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Robert Carey sold 2,300 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the transaction, the chief financial officer now directly owns 94,780 shares of the company's stock, valued at approximately $1,848,210. The trade was a 2.37% decrease in their position. 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. 14.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

A number of hedge funds and other institutional investors have recently bought and sold shares of BASE. Irenic Capital Management LP bought a new stake in shares of Couchbase during the first quarter worth about $26,356,000. Hood River Capital Management LLC grew its holdings in 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 position in Couchbase by 72.0% in the 4th quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock valued at $26,554,000 after acquiring an additional 712,936 shares during the period. Franklin Resources Inc. raised its stake in shares of Couchbase by 26.8% during the fourth 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 last quarter. Finally, Congress Asset Management Co. acquired a new position in shares of Couchbase during the first quarter worth $5,650,000. Institutional investors 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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