Couchbase (NASDAQ:BASE) Shares Gap Up on Analyst Upgrade

Shares of Couchbase, Inc. (NASDAQ:BASE) gapped up before the market opened on Wednesday after Piper Sandler raised their price target on the stock from $21.00 to $22.00. The stock had previously closed at $16.25, but opened at $18.11. Piper Sandler currently has an overweight rating on the stock. Couchbase shares last traded at $17.73, with a volume of 238,618 shares changing hands.

BASE has been the topic of several other research reports. Robert W. Baird dropped their price objective on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and set a $30.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Couchbase in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley dropped their target price on Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Couchbase presently has an average rating of “Moderate Buy” and an average price target of $22.31.

Insider Buying and Selling

In other news, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 336,679 shares of the company’s stock, valued at $5,097,320.06. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the transaction, the senior vice president now owns 133,067 shares in the company, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,883 shares of company stock worth $950,915. 16.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in shares of Couchbase by 59.0% in the 3rd quarter. Creative Planning now owns 17,335 shares of the company’s stock worth $279,000 after buying an additional 6,433 shares during the last quarter. US Bancorp DE lifted its holdings in Couchbase by 147.8% in the third quarter. US Bancorp DE now owns 19,528 shares of the company’s stock valued at $315,000 after acquiring an additional 11,648 shares during the period. Harbor Capital Advisors Inc. boosted its position 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 purchasing an additional 956 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Couchbase by 33.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after purchasing an additional 93,301 shares during the period. Finally, Alpha DNA Investment Management LLC increased its position in shares of Couchbase by 20.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 27,306 shares of the company’s stock valued at $440,000 after purchasing an additional 4,629 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Couchbase Stock Performance

The stock has a market cap of $955.87 million, a PE ratio of -11.41 and a beta of 0.81. The company’s 50-day moving average price is $16.96 and its 200 day moving average price is $17.03.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). The business had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. On average, sell-side analysts anticipate that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

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.