Couchbase (NASDAQ:BASE) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $22.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Oppenheimer reduced their price target on Couchbase from $36.00 to $30.00 and set an outperform rating for the company in a research report on Thursday, June 6th. Royal Bank of Canada reduced their price target on Couchbase from $35.00 to $31.00 and set an outperform rating for the company in a research report on Thursday, June 6th. Morgan Stanley cut their price objective on Couchbase from $30.00 to $29.00 and set an equal weight rating for the company in a research report on Thursday, June 6th. Wells Fargo & Company reduced their target price on Couchbase from $37.00 to $30.00 and set an overweight rating for the company in a research note on Thursday, June 6th. Finally, UBS Group assumed coverage on Couchbase in a research note on Wednesday, May 22nd. They set a neutral rating and a $31.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $22.93.

Couchbase Stock Performance

Shares of NASDAQ BASE opened at $16.10 on Thursday. The stock has a 50 day moving average price of $18.27 and a 200 day moving average price of $22.41. Couchbase has a 52 week low of $14.12 and a 52 week high of $32.00. The stock has a market capitalization of $809.99 million, a PE ratio of -9.82 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the prior year, the firm posted ($0.44) earnings per share. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, research analysts forecast that Couchbase will post -1.45 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew M. Cain sold 8,953 shares of Couchbase stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.01, for a total transaction of $179,149.53. Following the completion of the sale, the chief executive officer now directly owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Matthew M. Cain sold 8,953 shares of Couchbase stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.01, for a total transaction of $179,149.53. Following the completion of the sale, the chief executive officer now directly owns 776,437 shares of the company’s stock, valued at approximately $15,536,504.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory N. Henry sold 3,982 shares of Couchbase stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $16.52, for a total value of $65,782.64. Following the sale, the chief financial officer now directly owns 393,060 shares of the company’s stock, valued at $6,493,351.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,987 shares of company stock valued at $668,568. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BASE. NBC Securities Inc. acquired a new position in Couchbase in the 1st quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Couchbase in the 2nd quarter valued at $47,000. Point72 Hong Kong Ltd acquired a new position in shares of Couchbase during the 2nd quarter worth $67,000. Harbor Capital Advisors Inc. raised its holdings in shares of Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after buying an additional 1,125 shares in the last quarter. Finally, StepStone Group LP acquired a new position in shares of Couchbase during the 4th quarter worth $133,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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.