The Goldman Sachs Group Issues Pessimistic Forecast for Couchbase (NASDAQ:BASE) Stock Price

Couchbase (NASDAQ:BASE) had its price objective decreased by investment analysts at The Goldman Sachs Group from $18.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 11.19% from the stock’s previous close.

Several other analysts also recently commented on the stock. Stifel Nicolaus increased their target price on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Couchbase in a research report on Wednesday. Guggenheim reduced their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price target on Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Barclays reduced their price objective on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.19.

Couchbase Stock Down 1.3 %

NASDAQ:BASE traded down $0.25 on Thursday, hitting $18.02. The stock had a trading volume of 154,478 shares, compared to its average volume of 478,770. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The business’s fifty day moving average is $16.96 and its 200 day moving average is $17.03. The company has a market cap of $943.05 million, a PE ratio of -11.26 and a beta of 0.81.

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

Insider Activity at Couchbase

In other news, SVP Margaret Chow sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the completion of the transaction, the senior vice president now owns 133,067 shares of the company’s stock, valued at approximately $2,436,456.77. The trade was a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.14, for a total transaction of $58,334.42. Following the completion of the transaction, the chief financial officer now owns 336,679 shares in the company, valued at approximately $5,097,320.06. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,883 shares of company stock valued at $950,915. Company insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its stake 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Couchbase by 33.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock worth $5,951,000 after buying an additional 93,301 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Couchbase by 169.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock valued at $3,099,000 after purchasing an additional 120,975 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Couchbase during the third quarter valued at about $772,000. Finally, 272 Capital LP purchased a new stake in Couchbase during the 3rd quarter valued at about $3,720,000. 96.07% of the stock is owned by 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.