Couchbase (NASDAQ:BASE) Trading Up 7.9% – Here’s What Happened

Shares of Couchbase, Inc. (NASDAQ:BASE) traded up 7.9% on Tuesday . The stock traded as high as $18.31 and last traded at $18.46. 278,479 shares traded hands during trading, a decline of 35% from the average session volume of 426,754 shares. The stock had previously closed at $17.11.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BASE shares. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a research report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays upped their price target on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Stock Down 0.5 %

The stock has a market capitalization of $909.84 million, a price-to-earnings ratio of -10.86 and a beta of 0.79. The business’s 50-day moving average is $16.83 and its two-hundred day moving average is $17.07.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.27). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. During the same period in the previous year, the business earned ($0.34) earnings per share. As a group, analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current fiscal year.

Insider Activity at Couchbase

In other news, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the sale, the chief financial officer now directly owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Huw Owen sold 2,993 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.02, for a total transaction of $47,947.86. Following the completion of the transaction, the senior vice president now owns 325,993 shares in the company, valued at approximately $5,222,407.86. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,975 shares of company stock valued at $518,645. 16.10% of the stock is owned by company insiders.

Institutional Trading of Couchbase

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Couchbase by 27.3% in the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after purchasing an additional 353,233 shares during the period. Wasatch Advisors LP lifted its holdings in Couchbase by 56.4% during the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after buying an additional 357,169 shares in the last quarter. Geode Capital Management LLC boosted its position in Couchbase by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock valued at $15,228,000 after buying an additional 88,068 shares during the period. Portolan Capital Management LLC grew its stake in shares of Couchbase by 77.8% in the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after acquiring an additional 382,851 shares in the last quarter. Finally, State Street Corp increased its position in shares of Couchbase by 4.1% during the third quarter. State Street Corp now owns 850,515 shares of the company’s stock worth $13,710,000 after acquiring an additional 33,294 shares during the period. Hedge funds and other 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.