Couchbase (NASDAQ:BASE) Price Target Cut to $23.00 by Analysts at Morgan Stanley

Couchbase (NASDAQ:BASE) had its price objective decreased by Morgan Stanley from $25.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on BASE. DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Truist Financial started coverage on Couchbase in a report on Thursday, December 12th. They set a “buy” rating and a $21.00 price target for the company. Robert W. Baird reduced their price objective on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Guggenheim restated a “buy” rating and issued a $30.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company cut their price target on Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.31.

Couchbase Price Performance

Shares of NASDAQ:BASE opened at $18.26 on Wednesday. The stock has a market capitalization of $955.87 million, a price-to-earnings ratio of -11.41 and a beta of 0.81. The business’s fifty day moving average price is $16.96 and its two-hundred day moving average price is $17.03. Couchbase has a fifty-two week low of $13.53 and a fifty-two week high of $32.00.

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

Insider Buying and Selling

In other Couchbase news, SVP Margaret Chow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total value of $274,650.00. Following the transaction, the senior vice president now directly owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 14,742 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $18.05, for a total transaction of $266,093.10. Following the sale, the senior vice president now owns 311,251 shares of the company’s stock, valued at $5,618,080.55. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,883 shares of company stock valued at $950,915 over the last ninety days. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Several hedge funds have recently added to or reduced their stakes in BASE. Creative Planning grew its position in shares of Couchbase by 59.0% during the 3rd quarter. Creative Planning now owns 17,335 shares of the company’s stock worth $279,000 after buying an additional 6,433 shares during the period. US Bancorp DE boosted its stake in Couchbase by 147.8% during the 3rd quarter. US Bancorp DE now owns 19,528 shares of the company’s stock worth $315,000 after acquiring an additional 11,648 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Couchbase by 15.9% during the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock valued at $112,000 after purchasing an additional 956 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after purchasing an additional 93,301 shares in the last quarter. Finally, Alpha DNA Investment Management LLC raised its holdings in Couchbase by 20.4% in the third quarter. Alpha DNA Investment Management LLC now owns 27,306 shares of the company’s stock worth $440,000 after purchasing an additional 4,629 shares during the period. 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.