Oppenheimer Trims Couchbase (NASDAQ:BASE) Target Price to $23.00

Couchbase (NASDAQ:BASE) had its target price cut by Oppenheimer from $25.00 to $23.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

BASE has been the subject of several other reports. Robert W. Baird lowered their target price on Couchbase from $32.00 to $27.00 and set an outperform rating for the company in a report on Thursday. Barclays lowered their price objective on shares of Couchbase from $20.00 to $19.00 and set an equal weight rating for the company in a research note on Thursday. UBS Group cut their target price on shares of Couchbase from $24.00 to $19.00 and set a neutral rating on the stock in a research report on Thursday. Needham & Company LLC restated a buy rating and issued a $22.00 price target on shares of Couchbase in a report on Thursday. Finally, Stifel Nicolaus dropped their price objective on shares of Couchbase from $25.00 to $20.00 and set a buy rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Couchbase presently has an average rating of Moderate Buy and an average price target of $22.93.

Couchbase Price Performance

BASE stock opened at $15.85 on Thursday. The company has a market capitalization of $797.41 million, a PE ratio of -9.66 and a beta of 0.61. Couchbase has a 12 month low of $14.12 and a 12 month high of $32.00. The firm’s 50-day moving average is $18.22 and its 200 day moving average is $22.29.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.49%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company posted ($0.44) earnings per share. Sell-side analysts forecast that Couchbase will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In other Couchbase news, SVP Huw Owen sold 2,993 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 412,915 shares of the company’s stock, valued at $6,825,484.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Couchbase news, SVP Huw Owen sold 2,993 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were 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 owns 412,915 shares of the company’s stock, valued at $6,825,484.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew M. Cain sold 8,953 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total transaction of $179,149.53. Following the sale, the chief executive officer now directly owns 776,437 shares in the company, valued at $15,536,504.37. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock worth $668,568 over the last three months. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BASE. NBC Securities Inc. acquired a new position in Couchbase during the first quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Couchbase during the 2nd quarter worth about $47,000. Point72 Hong Kong Ltd purchased a new position in shares of Couchbase during the 2nd quarter valued at about $67,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Couchbase by 23.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after buying an additional 1,125 shares during the period. Finally, StepStone Group LP purchased a new stake in shares of Couchbase in the fourth quarter worth about $133,000. 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.