The Goldman Sachs Group Lowers Couchbase (NASDAQ:BASE) Price Target to $16.00

Couchbase (NASDAQ:BASE) had its price objective cut by stock analysts at The Goldman Sachs Group from $18.00 to $16.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 9.35% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Wednesday. Royal Bank of Canada decreased their price target on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial initiated coverage on Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective for the company. Finally, UBS Group decreased their target price on Couchbase from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Couchbase presently has an average rating of “Moderate Buy” and a consensus price target of $22.19.

Couchbase Stock Performance

Shares of Couchbase stock opened at $17.65 on Thursday. The company has a fifty day moving average of $17.05 and a 200 day moving average of $17.04. The company has a market capitalization of $923.94 million, a P/E ratio of -11.03 and a beta of 0.81. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00.

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 analysts’ consensus estimates of ($0.08) by ($0.22). The business had revenue of $54.92 million during the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. Analysts forecast that Couchbase will post -1.48 EPS for the current year.

Insider Activity at Couchbase

In other news, SVP Margaret Chow sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total value of $274,650.00. Following the sale, the senior vice president now owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. This represents a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gregory N. Henry sold 3,853 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 $5,097,320.06. This trade 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 worth $950,915. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its stake in shares of Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after acquiring an additional 759 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after purchasing an additional 807 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Couchbase by 15.9% during the third 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. Ceera Investments LLC boosted its stake in shares of Couchbase by 3.0% during the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock valued at $513,000 after purchasing an additional 960 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $349,000 after purchasing an additional 1,076 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

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.