Couchbase (NASDAQ:BASE) Receives New Coverage from Analysts at Needham & Company LLC

Stock analysts at Needham & Company LLC started coverage on shares of Couchbase (NASDAQ:BASE) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 17.52% from the company’s current price.

BASE has been the topic of a number of other research reports. Royal Bank of Canada cut their target price on shares of Couchbase from $35.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. The Goldman Sachs Group cut Couchbase from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $30.00 to $18.00 in a research note on Thursday, June 6th. Wells Fargo & Company decreased their target price on Couchbase from $37.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Barclays dropped their target price on Couchbase from $33.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Finally, Morgan Stanley decreased their price target on Couchbase from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.58.

Couchbase Stock Performance

BASE opened at $18.72 on Wednesday. Couchbase has a 1 year low of $13.97 and a 1 year high of $32.00. The firm has a 50 day moving average price of $22.74 and a 200 day moving average price of $24.45. The company has a market cap of $941.80 million, a PE ratio of -11.41 and a beta of 0.68.

Insider Activity

In related news, SVP Margaret Chow sold 3,934 shares of Couchbase stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.53, for a total value of $108,303.02. Following the completion of the sale, the senior vice president now owns 210,429 shares in the company, valued at $5,793,110.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Margaret Chow sold 3,934 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.53, for a total transaction of $108,303.02. Following the transaction, the senior vice president now owns 210,429 shares of the company’s stock, valued at $5,793,110.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew M. Cain sold 10,053 shares of Couchbase stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $24.15, for a total value of $242,779.95. Following the completion of the transaction, the chief executive officer now owns 883,458 shares of the company’s stock, valued at $21,335,510.70. The disclosure for this sale can be found here. In the last three months, insiders sold 67,848 shares of company stock worth $1,547,562. 16.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors and hedge funds have recently made changes to their positions in BASE. NBC Securities Inc. acquired a new position in Couchbase in the first quarter worth $26,000. AJOVista LLC bought a new position in shares of Couchbase in the 4th quarter worth about $74,000. Daiwa Securities Group Inc. bought a new position in shares of Couchbase in the 4th quarter worth about $92,000. StepStone Group LP acquired a new position in shares of Couchbase in the 4th quarter valued at about $133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Couchbase by 21.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,698 shares of the company’s stock valued at $151,000 after buying an additional 1,203 shares during the last quarter. 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.