Couchbase (NASDAQ:BASE) Given New $22.00 Price Target at Royal Bank of Canada

Couchbase (NASDAQ:BASE) had its price objective lowered by equities researchers at Royal Bank of Canada from $25.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 18.18% from the stock’s previous close.

Several other brokerages have also weighed in on BASE. Truist Financial assumed coverage on Couchbase in a research report on Thursday, December 12th. They issued a “buy” rating and a $21.00 price objective for the company. Barclays lowered their price target on Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Couchbase in a research note on Wednesday. Piper Sandler upped their price target on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.38.

Couchbase Stock Up 14.6 %

BASE traded up $2.37 during trading on Wednesday, reaching $18.62. 480,797 shares of the company were exchanged, compared to its average volume of 462,536. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00. The company’s 50-day moving average is $16.90 and its two-hundred day moving average is $17.02. The company has a market cap of $974.46 million, a price-to-earnings ratio of -11.53 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). The business had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. Equities analysts forecast that Couchbase will post -1.48 earnings per share for the current year.

Insider Buying and Selling at Couchbase

In related news, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the transaction, the senior vice president now directly owns 133,067 shares of the company’s stock, valued at $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gregory N. Henry sold 3,853 shares of Couchbase stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.14, for a total transaction of $58,334.42. Following the sale, the chief financial officer now owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,883 shares of company stock valued at $950,915. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC raised its stake in Couchbase by 38.2% in the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after buying an additional 756,394 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Couchbase by 72.0% during the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after acquiring an additional 712,936 shares during the period. Franklin Resources Inc. boosted its stake in Couchbase by 26.8% during the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock valued at $32,569,000 after purchasing an additional 441,770 shares during the period. Portolan Capital Management LLC lifted its holdings in Couchbase by 77.8% during the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after buying an additional 382,851 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in Couchbase during the 3rd quarter worth $3,720,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.