Brokerages Set Couchbase, Inc. (NASDAQ:BASE) Target Price at $28.58

Shares of Couchbase, Inc. (NASDAQ:BASE) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $28.58.

A number of brokerages have recently issued reports on BASE. DA Davidson dropped their price target on shares of Couchbase from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, June 7th. UBS Group started coverage on shares of Couchbase in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $31.00 target price for the company. Needham & Company LLC began coverage on Couchbase in a report on Wednesday, June 26th. They set a “buy” rating and a $22.00 price target on the stock. Barclays cut their price objective on Couchbase from $33.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, June 6th. Finally, Morgan Stanley lowered their target price on Couchbase from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th.

Couchbase Stock Performance

Shares of NASDAQ BASE opened at $17.95 on Friday. The company has a market cap of $903.06 million, a PE ratio of -10.95 and a beta of 0.61. The firm’s 50 day moving average price is $19.18 and its 200-day moving average price is $23.75. Couchbase has a 52-week low of $14.12 and a 52-week high of $32.00.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, June 5th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.03). Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.49%. The business had revenue of $51.33 million for the quarter, compared to analysts’ expectations of $48.52 million. On average, analysts forecast that Couchbase will post -1.45 earnings per share for the current fiscal year.

Insider Activity

In other Couchbase news, SVP Margaret Chow sold 3,934 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.53, for a total value of $108,303.02. Following the completion of the sale, the senior vice president now owns 210,429 shares of the company’s stock, valued at $5,793,110.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Margaret Chow sold 3,934 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $27.53, for a total value of $108,303.02. Following the completion of the sale, the senior vice president now owns 210,429 shares in the company, valued at $5,793,110.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 2,993 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $16.53, for a total value of $49,474.29. Following the completion of the transaction, the senior vice president now directly owns 412,915 shares in the company, valued at approximately $6,825,484.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,215 shares of company stock valued at $1,692,370. 16.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. purchased a new stake in shares of Couchbase during the 1st quarter worth $26,000. AJOVista LLC bought a new stake in shares of Couchbase in the 4th quarter valued at about $74,000. Daiwa Securities Group Inc. purchased a new position in shares of Couchbase in the 4th quarter worth approximately $92,000. Harbor Capital Advisors Inc. raised its stake in shares of Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after acquiring an additional 1,125 shares in the last quarter. Finally, StepStone Group LP purchased a new stake in Couchbase during the fourth quarter valued at approximately $133,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.