Couchbase (NASDAQ:BASE) Price Target Raised to $22.00 at Piper Sandler

Couchbase (NASDAQ:BASE) had its price target upped by Piper Sandler from $21.00 to $22.00 in a report issued on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms also recently commented on BASE. Truist Financial initiated coverage on Couchbase in a research report on Thursday, December 12th. They issued a “buy” rating and a $21.00 target price for the company. Morgan Stanley cut their target price on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Guggenheim restated a “buy” rating and issued a $30.00 price target on shares of Couchbase in a research report on Wednesday, December 4th. Robert W. Baird cut their price target on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Couchbase has an average rating of “Moderate Buy” and an average price target of $22.31.

Couchbase Price Performance

BASE stock opened at $18.26 on Wednesday. The stock has a market cap of $955.87 million, a price-to-earnings ratio of -11.41 and a beta of 0.81. The company has a 50 day simple moving average of $16.96 and a 200 day simple moving average of $17.03. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00.

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). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The company had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. On average, equities research analysts anticipate that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Activity at Couchbase

In other news, SVP Huw Owen sold 7,575 shares of Couchbase stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $115,291.50. Following the completion of the sale, the senior vice president now owns 341,709 shares in the company, valued at $5,200,810.98. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 336,679 shares in the company, 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. Insiders have sold a total of 54,883 shares of company stock worth $950,915 in the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Couchbase during the 4th quarter worth about $35,000. Summit Investment Advisors Inc. raised its stake in Couchbase by 24.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after buying an additional 807 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Couchbase by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after acquiring an additional 759 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Couchbase by 15.9% in the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after acquiring an additional 956 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Couchbase in the fourth quarter valued at approximately $112,000. 96.07% of the stock is 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.