Wells Fargo & Company Trims Couchbase (NASDAQ:BASE) Target Price to $23.00

Couchbase (NASDAQ:BASE) had its price objective trimmed by Wells Fargo & Company from $30.00 to $23.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also commented on BASE. Morgan Stanley lowered their price target on shares of Couchbase from $29.00 to $27.00 and set an equal weight rating on the stock in a research report on Thursday. Robert W. Baird reduced their price target on shares of Couchbase from $32.00 to $27.00 and set an outperform rating on the stock in a research report on Thursday. Oppenheimer lowered their price objective on shares of Couchbase from $25.00 to $23.00 and set an outperform rating for the company in a research report on Thursday. Stifel Nicolaus reduced their target price on Couchbase from $25.00 to $20.00 and set a buy rating on the stock in a report on Thursday. Finally, Piper Sandler reduced their price target on shares of Couchbase from $22.00 to $21.00 and set an overweight rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $22.93.

Couchbase Stock Down 1.6 %

Shares of NASDAQ:BASE opened at $15.85 on Thursday. Couchbase has a 12-month low of $14.12 and a 12-month high of $32.00. The business has a 50 day moving average of $18.22 and a 200-day moving average of $22.29. The stock has a market cap of $797.41 million, a PE ratio of -9.66 and a beta of 0.61.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (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 business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same period in the previous year, the company posted ($0.44) EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. Equities research analysts expect that Couchbase will post -1.45 earnings per share for the current year.

Insider Activity

In related news, Director Jeff Epstein sold 7,277 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the completion of the transaction, the director now directly owns 28,027 shares of the company’s stock, valued at approximately $563,342.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Gregory N. Henry sold 3,982 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $16.52, for a total transaction of $65,782.64. Following the completion of the sale, the chief financial officer now directly owns 393,060 shares in the company, valued at $6,493,351.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeff Epstein sold 7,277 shares of Couchbase stock in a transaction on Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the transaction, the director now directly owns 28,027 shares of the company’s stock, valued at approximately $563,342.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,987 shares of company stock valued at $668,568. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of institutional investors have recently bought and sold shares of BASE. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 worth $151,000 after buying an additional 1,203 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Couchbase by 25.8% during the fourth quarter. Russell Investments Group Ltd. now owns 21,710 shares of the company’s stock worth $489,000 after acquiring an additional 4,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Couchbase by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 250,472 shares of the company’s stock worth $5,641,000 after purchasing an additional 19,256 shares during the period. Jump Financial LLC bought a new stake in Couchbase in the fourth quarter valued at $1,373,000. Finally, Circumference Group LLC acquired a new position in shares of Couchbase during the fourth quarter valued at about $4,504,000. Institutional investors own 96.07% of the company’s stock.

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.