Couchbase (NASDAQ:BASE) Shares Gap Up on Analyst Upgrade

Shares of Couchbase, Inc. (NASDAQ:BASE) gapped up prior to trading on Wednesday after Piper Sandler raised their price target on the stock from $21.00 to $22.00. The stock had previously closed at $16.25, but opened at $18.11. Piper Sandler currently has an overweight rating on the stock. Couchbase shares last traded at $17.73, with a volume of 238,618 shares trading hands.

A number of other research analysts have also commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Couchbase in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Couchbase in a research report on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Morgan Stanley dropped their price target on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Finally, Barclays upped their price objective on shares of Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and an average price target of $22.94.

Insider Activity at Couchbase

In other Couchbase news, SVP Margaret Chow sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the completion of the sale, the senior vice president now directly owns 133,067 shares in the company, valued at $2,436,456.77. This represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gregory N. Henry sold 3,853 shares of Couchbase stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.14, for a total value of $58,334.42. Following the completion of the transaction, the chief financial officer now owns 336,679 shares in the company, valued at approximately $5,097,320.06. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,883 shares of company stock valued at $950,915. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new position in shares of Couchbase in the fourth quarter worth approximately $382,000. Two Sigma Advisers LP boosted its position in Couchbase by 32.4% during the 4th quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock valued at $745,000 after buying an additional 11,700 shares during the period. ProShare Advisors LLC grew its holdings in Couchbase by 36.7% in the 4th quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock worth $231,000 after acquiring an additional 3,979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Couchbase by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after acquiring an additional 1,076 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Couchbase by 5.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 588,439 shares of the company’s stock valued at $9,174,000 after acquiring an additional 32,078 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Couchbase Stock Up 9.2 %

The company has a market capitalization of $928.71 million, a PE ratio of -11.08 and a beta of 0.81. The stock’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $17.02.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The business had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $53.25 million. On average, equities research analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current year.

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.