Couchbase (NASDAQ:BASE) Coverage Initiated by Analysts at Wedbush

Investment analysts at Wedbush assumed coverage on shares of Couchbase (NASDAQ:BASE) in a research note issued on Thursday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $26.00 price target on the stock. Wedbush’s price target points to a potential upside of 50.64% from the stock’s previous close.

Several other brokerages have also weighed in on BASE. Wells Fargo & Company cut their price objective on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a report on Thursday, September 5th. Piper Sandler Companies started coverage on Couchbase in a report on Friday, August 16th. They issued an “overweight” rating and a $22.00 price objective for the company. Piper Sandler cut their price objective on Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.13.

Couchbase Stock Performance

Shares of NASDAQ:BASE traded up $0.94 during trading on Thursday, reaching $17.26. 95,200 shares of the stock were exchanged, compared to its average volume of 502,124. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00. The firm has a market cap of $868.35 million, a price-to-earnings ratio of -10.52 and a beta of 0.59. The firm’s 50-day moving average price is $16.40 and its 200 day moving average price is $19.87.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.11 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, equities research analysts forecast that Couchbase will post -1.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Edward T. Anderson purchased 21,080 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the purchase, the director now owns 85,902 shares in the company, valued at $1,216,372.32. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Edward T. Anderson purchased 21,080 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the acquisition, the director now directly owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew M. Cain sold 8,953 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $20.01, for a total value of $179,149.53. Following the transaction, the chief executive officer now directly owns 776,437 shares of the company’s stock, valued at $15,536,504.37. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,056 shares of company stock valued at $538,135 in the last three months. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Couchbase by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after purchasing an additional 227,828 shares during the period. EVR Research LP raised its stake in shares of Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after buying an additional 179,585 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Couchbase by 7.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock valued at $29,762,000 after buying an additional 118,372 shares in the last quarter. Pembroke Management LTD raised its stake in shares of Couchbase by 18.1% in the 2nd quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock valued at $14,788,000 after buying an additional 123,927 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Couchbase in the 1st quarter valued at $9,059,000. 96.07% of the stock is owned by institutional investors.

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.