Couchbase (NASDAQ:BASE) Hits New 52-Week Low – Here’s Why

Couchbase, Inc. (NASDAQ:BASE) reached a new 52-week low on Monday . The stock traded as low as $13.36 and last traded at $13.56, with a volume of 55116 shares traded. The stock had previously closed at $13.68.

Analyst Ratings Changes

BASE has been the subject of a number of research reports. Truist Financial started coverage on shares of Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 price target for the company. Stifel Nicolaus upped their price target on shares of Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group reduced their price target on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Robert W. Baird lowered their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, Barclays cut their target price on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.19.

Couchbase Price Performance

The company has a market capitalization of $703.50 million, a PE ratio of -8.38 and a beta of 0.81. The company’s fifty day moving average is $17.11 and its 200-day moving average is $16.85.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings data 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 net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. Equities research analysts forecast that Couchbase, Inc. will post -1.48 EPS for the current fiscal year.

Insider Activity at Couchbase

In other Couchbase 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 transaction, the senior vice president now directly owns 341,709 shares in the company, valued at approximately $5,200,810.98. The trade was a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Margaret Chow sold 15,000 shares of the 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 transaction, the senior vice president now owns 133,067 shares of the company’s stock, valued at $2,436,456.77. This represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,883 shares of company stock worth $950,915. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of institutional investors have recently made changes to their positions in BASE. Quarry LP acquired a new stake in Couchbase in the fourth quarter valued at $35,000. Daiwa Securities Group Inc. grew its stake 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 purchasing an additional 759 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after buying an additional 807 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Couchbase in the 4th quarter worth approximately $112,000. Finally, Dark Forest Capital Management LP bought a new position in Couchbase during the fourth quarter worth $165,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.