Couchbase (NASDAQ:BASE) Receives “Outperform” Rating from Royal Bank of Canada

Couchbase (NASDAQ:BASE)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $25.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 50.69% from the company’s current price.

A number of other equities research analysts have also recently issued reports on BASE. Oppenheimer reduced their target price on shares of Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Couchbase in a report on Wednesday. Barclays boosted their price target on Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a report on Wednesday. Finally, Robert W. Baird reduced their target price on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.27.

Couchbase Price Performance

BASE stock traded down $4.53 during midday trading on Wednesday, reaching $16.59. 1,435,918 shares of the company were exchanged, compared to its average volume of 478,252. Couchbase has a one year low of $13.53 and a one year high of $32.00. The firm has a market capitalization of $851.40 million, a price-to-earnings ratio of -10.43 and a beta of 0.71. The business has a 50-day moving average price of $17.50 and a two-hundred day moving average price of $18.20.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) earnings per share. As a group, analysts anticipate that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward T. Anderson acquired 21,080 shares of the stock in a transaction dated Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the transaction, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Huw Owen sold 6,736 shares of the company’s 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 completion of the sale, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,548 shares of company stock worth $163,390 in the last ninety days. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Couchbase during the third quarter worth $772,000. Horrell Capital Management Inc. boosted its position in Couchbase by 64.3% during the third quarter. Horrell Capital Management Inc. now owns 230,000 shares of the company’s stock valued at $3,708,000 after acquiring an additional 90,000 shares during the last quarter. 272 Capital LP acquired a new stake in Couchbase during the 3rd quarter worth about $1,566,000. Bank of New York Mellon Corp raised its position in shares of Couchbase by 34.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock worth $2,997,000 after acquiring an additional 42,434 shares in the last quarter. Finally, EVR Research LP lifted its stake in shares of Couchbase by 9.4% in the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after purchasing an additional 179,585 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.