Couchbase’s (BASE) “Buy” Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note released on Wednesday morning,Benzinga reports. They currently have a $30.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Couchbase in a research note on Thursday, September 5th. Robert W. Baird dropped their price target on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their price objective on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays boosted their target price on shares of Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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 company. Based on data from MarketBeat.com, Couchbase currently has an average rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Stock Performance

Shares of BASE stock opened at $16.38 on Wednesday. The stock’s 50 day simple moving average is $17.57 and its 200 day simple moving average is $18.18. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00. The company has a market capitalization of $840.69 million, a price-to-earnings ratio of -10.29 and a beta of 0.71.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.01%. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the previous year, the company earned ($0.44) earnings per share. Couchbase’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, analysts forecast that Couchbase will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Edward T. Anderson bought 21,080 shares of the 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 acquisition, the director now owns 85,902 shares in the company, valued at $1,216,372.32. This trade represents a 32.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the transaction, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at $5,630,860.29. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,548 shares of company stock valued at $163,390 over the last quarter. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Couchbase during the 3rd quarter worth approximately $772,000. 272 Capital LP bought a new stake in shares of Couchbase during the third quarter worth $1,566,000. Horrell Capital Management Inc. increased its stake in shares of Couchbase by 64.3% in the third quarter. Horrell Capital Management Inc. now owns 230,000 shares of the company’s stock valued at $3,708,000 after buying an additional 90,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Couchbase by 34.9% in the second quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock valued at $2,997,000 after buying an additional 42,434 shares during the last quarter. Finally, EVR Research LP lifted its position in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after buying an additional 179,585 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.