DA Davidson Reaffirms “Buy” Rating for Couchbase (NASDAQ:BASE)

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock. DA Davidson’s price target points to a potential upside of 55.28% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Guggenheim reiterated a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a research note on Wednesday. UBS Group decreased their target price on Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Morgan Stanley decreased their target price on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday. Oppenheimer decreased their target price on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Wedbush started coverage on Couchbase in a research note on Thursday, October 17th. They set an “outperform” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.27.

Couchbase Stock Performance

Shares of BASE traded down $5.02 during midday trading on Wednesday, hitting $16.10. The company had a trading volume of 1,233,731 shares, compared to its average volume of 477,236. The company’s 50-day simple moving average is $17.50 and its 200-day simple moving average is $18.20. The firm has a market capitalization of $826.25 million, a P/E ratio of -10.43 and a beta of 0.71. Couchbase has a 1 year low of $13.53 and a 1 year high of $32.00.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings data 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 business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.44) EPS. Equities analysts predict that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Couchbase

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings 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. Barclays PLC boosted its position in Couchbase by 242.9% during the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock worth $1,218,000 after purchasing an additional 53,555 shares in the last quarter. Geode Capital Management LLC boosted its position in Couchbase by 10.3% during the third quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock worth $15,228,000 after purchasing an additional 88,068 shares in the last quarter. XTX Topco Ltd boosted its position in Couchbase by 60.0% during the third quarter. XTX Topco Ltd now owns 26,405 shares of the company’s stock worth $426,000 after purchasing an additional 9,897 shares in the last quarter. Finally, Washington Harbour Partners LP boosted its position in Couchbase by 39.6% during the third quarter. Washington Harbour Partners LP now owns 93,400 shares of the company’s stock worth $1,506,000 after purchasing an additional 26,500 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

About Couchbase

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.