Couchbase (NASDAQ:BASE) Price Target Cut to $25.00 by Analysts at Morgan Stanley

Couchbase (NASDAQ:BASE) had its price target cut by analysts at Morgan Stanley from $27.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 18.37% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. UBS Group cut their price objective on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company cut their price target on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Couchbase in a report on Thursday, September 5th. Wedbush initiated coverage on shares of Couchbase in a report on Thursday, October 17th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Trading Up 2.9 %

Shares of BASE stock opened at $21.12 on Wednesday. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00. The business’s fifty day simple moving average is $17.37 and its 200-day simple moving average is $18.25. The company has a market cap of $1.08 billion, a PE ratio of -13.28 and a beta of 0.71.

Couchbase (NASDAQ:BASE) last announced its 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. The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) EPS. On average, equities analysts forecast that Couchbase will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Couchbase

In other news, SVP Huw Owen sold 6,736 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction of $101,511.52. Following the sale, the senior vice president now directly owns 373,647 shares in the company, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward T. Anderson purchased 21,080 shares of Couchbase stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $14.16 per share, with a total value of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. This trade represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 10,548 shares of company stock valued at $163,390. 16.10% of the stock is owned by company insiders.

Institutional Trading of Couchbase

Several institutional investors have recently bought and sold shares of the business. EVR Research LP lifted its position in shares of Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after buying an additional 179,585 shares in the last quarter. Franklin Resources Inc. raised its position in Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock worth $27,379,000 after acquiring an additional 353,233 shares during the period. Hood River Capital Management LLC lifted its holdings in Couchbase by 7.8% during the second quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock valued at $29,762,000 after purchasing an additional 118,372 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Couchbase by 56.4% during the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after purchasing an additional 357,169 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Couchbase by 10.3% in the third quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock valued at $15,228,000 after purchasing an additional 88,068 shares during the period. 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.