Couchbase (NASDAQ:BASE) Given New $26.00 Price Target at Guggenheim

Couchbase (NASDAQ:BASE) had its price target reduced by stock analysts at Guggenheim from $30.00 to $26.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 44.02% from the stock’s current price.

A number of other equities analysts have also recently weighed in on BASE. Piper Sandler upped their price target on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird decreased their price target on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Morgan Stanley reduced their target price on Couchbase from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Couchbase Stock Up 11.1 %

Shares of NASDAQ BASE traded up $1.80 during trading on Wednesday, hitting $18.05. 388,334 shares of the company traded hands, compared to its average volume of 460,438. The company has a 50-day moving average price of $16.90 and a 200-day moving average price of $17.02. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00. The firm has a market capitalization of $945.04 million, a P/E ratio of -11.23 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The company had revenue of $54.92 million during the quarter, compared to analyst estimates of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. Research analysts predict that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, SVP Huw Owen sold 2,993 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.02, for a total transaction of $47,947.86. Following the transaction, the senior vice president now owns 325,993 shares in the company, valued at approximately $5,222,407.86. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory N. Henry sold 3,853 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 $5,097,320.06. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,883 shares of company stock valued at $950,915. 16.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Couchbase

A number of hedge funds have recently bought and sold shares of BASE. Barclays PLC boosted its stake in Couchbase by 242.9% during the 3rd quarter. Barclays PLC now owns 75,602 shares of the company’s stock valued at $1,218,000 after purchasing an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after acquiring an additional 93,301 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Couchbase by 169.8% in the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after acquiring an additional 120,975 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Couchbase during the third quarter worth $772,000. Finally, 272 Capital LP acquired a new position in Couchbase during the 3rd quarter valued at $3,720,000. 96.07% of the stock is currently 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.