Couchbase, Inc. (NASDAQ:BASE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Couchbase, Inc. (NASDAQ:BASE) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.40.

BASE has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies initiated coverage on shares of Couchbase in a research note on Friday, August 16th. They set an “overweight” rating and a $22.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research report on Thursday, September 5th. Robert W. Baird cut their target price on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Couchbase in a research note on Thursday, September 5th.

Couchbase Trading Up 0.0 %

BASE opened at $20.52 on Thursday. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -13.13 and a beta of 0.59. The company has a fifty day simple moving average of $17.24 and a 200 day simple moving average of $18.29.

Couchbase (NASDAQ:BASE) last announced its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same period last year, the firm earned ($0.44) earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. On average, analysts forecast that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Edward T. Anderson bought 21,080 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the transaction, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This trade represents a 32.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the sale, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,548 shares of company stock worth $163,390 in the last three months. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new stake in Couchbase in the second quarter worth about $47,000. Point72 Hong Kong Ltd acquired a new stake in shares of Couchbase in the 2nd quarter worth approximately $67,000. Harbor Capital Advisors Inc. boosted its holdings 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 in the last quarter. Arizona State Retirement System raised its holdings in Couchbase by 28.5% during the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after purchasing an additional 700 shares during the period. 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.