Couchbase (NASDAQ:BASE) Price Target Lowered to $23.00 at Morgan Stanley

Couchbase (NASDAQ:BASE) had its price objective decreased by analysts at Morgan Stanley from $25.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 27.57% from the company’s current price.

A number of other equities analysts have also issued reports on BASE. Robert W. Baird decreased their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. Barclays dropped their price target on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. Guggenheim reissued a “buy” rating and set a $30.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Finally, DA Davidson restated a “buy” rating and set a $25.00 target price on shares of Couchbase in a report on Wednesday, December 4th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.81.

Couchbase Stock Up 11.0 %

Shares of NASDAQ BASE traded up $1.78 during midday trading on Wednesday, hitting $18.03. The stock had a trading volume of 314,415 shares, compared to its average volume of 458,306. Couchbase has a 1-year low of $13.53 and a 1-year high of $32.00. The company has a market capitalization of $943.83 million, a price-to-earnings ratio of -11.17 and a beta of 0.81. The company has a fifty day moving average price of $16.90 and a 200 day moving average price of $17.02.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data 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 business had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. On average, research analysts forecast that Couchbase will post -1.48 EPS for the current year.

Insider Activity

In other news, CFO Gregory N. Henry sold 3,853 shares of the firm’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 transaction of $58,334.42. Following the completion of the sale, the chief financial officer now owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Margaret Chow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the transaction, the senior vice president now directly owns 133,067 shares in the company, valued at $2,436,456.77. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,883 shares of company stock worth $950,915. 16.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Couchbase

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Couchbase in the 4th quarter valued at about $35,000. Summit Investment Advisors Inc. grew its stake in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after purchasing an additional 807 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Couchbase by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after purchasing an additional 759 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Couchbase by 15.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after purchasing an additional 956 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Couchbase during the 4th quarter worth $112,000. 96.07% of the stock is currently 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.