Couchbase (NASDAQ:BASE) PT Lowered to $27.00 at Robert W. Baird

Couchbase (NASDAQ:BASE) had its target price trimmed by Robert W. Baird from $32.00 to $27.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Couchbase from $35.00 to $31.00 and set an outperform rating for the company in a research note on Thursday, June 6th. Guggenheim reiterated a buy rating and issued a $30.00 price target on shares of Couchbase in a research note on Tuesday, June 25th. Needham & Company LLC started coverage on Couchbase in a research report on Wednesday, June 26th. They issued a buy rating and a $22.00 price objective on the stock. DA Davidson dropped their price objective on Couchbase from $35.00 to $30.00 and set a buy rating for the company in a research note on Friday, June 7th. Finally, UBS Group started coverage on Couchbase in a research note on Wednesday, May 22nd. They set a neutral rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Couchbase presently has a consensus rating of Moderate Buy and an average price target of $22.93.

Couchbase Stock Performance

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

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

Insider Activity

In related news, Director Jeff Epstein sold 7,277 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $20.10, for a total transaction of $146,267.70. Following the sale, the director now owns 28,027 shares of the company’s stock, valued at $563,342.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Matthew M. Cain sold 8,953 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $20.01, for a total value of $179,149.53. Following the completion of the transaction, the chief executive officer now owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 7,277 shares of Couchbase stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $20.10, for a total value of $146,267.70. Following the completion of the transaction, the director now owns 28,027 shares of the company’s stock, valued at approximately $563,342.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,987 shares of company stock worth $668,568. 16.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Couchbase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in shares of Couchbase during the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Couchbase during the second quarter worth $47,000. Point72 Hong Kong Ltd bought a new position in Couchbase during the second quarter valued at $67,000. Harbor Capital Advisors Inc. raised its stake in shares of Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares during the period. Finally, StepStone Group LP bought a new stake in shares of Couchbase in the 4th quarter worth about $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.