Needham & Company LLC Reaffirms Buy Rating for Couchbase (NASDAQ:BASE)

Needham & Company LLC reissued their buy rating on shares of Couchbase (NASDAQ:BASE) in a report issued on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $22.00 target price on the stock.

A number of other research firms have also recently commented on BASE. Robert W. Baird decreased their price objective on Couchbase from $32.00 to $27.00 and set an outperform rating on the stock in a report on Thursday. Oppenheimer lowered their price target on Couchbase from $36.00 to $30.00 and set an outperform rating for the company in a report on Thursday, June 6th. Barclays cut their price objective on Couchbase from $27.00 to $20.00 and set an equal weight rating for the company in a research report on Monday, August 19th. Morgan Stanley decreased their target price on shares of Couchbase from $30.00 to $29.00 and set an equal weight rating on the stock in a research report on Thursday, June 6th. Finally, Wells Fargo & Company dropped their price target on shares of Couchbase from $37.00 to $30.00 and set an overweight rating for the company in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $22.93.

Couchbase Stock Down 1.6 %

Shares of NASDAQ:BASE opened at $15.85 on Thursday. Couchbase has a 52-week low of $14.12 and a 52-week high of $32.00. The stock has a market cap of $797.41 million, a P/E ratio of -9.66 and a beta of 0.61. The business has a fifty day moving average of $18.22 and a two-hundred day moving average of $22.29.

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 analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.49%. The firm had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.11 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. Couchbase’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities analysts anticipate that Couchbase will post -1.45 earnings per share for the current year.

Insider Transactions at Couchbase

In other Couchbase news, SVP Huw Owen sold 2,993 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $16.53, for a total value of $49,474.29. Following the transaction, the senior vice president now directly owns 412,915 shares in the company, valued at $6,825,484.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Couchbase news, SVP Huw Owen sold 2,993 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $16.53, for a total value of $49,474.29. Following the completion of the transaction, the senior vice president now owns 412,915 shares in the company, valued at $6,825,484.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Margaret Chow sold 2,290 shares of Couchbase stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $20.00, for a total value of $45,800.00. Following the sale, the senior vice president now owns 192,458 shares in the company, valued at approximately $3,849,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,987 shares of company stock valued at $668,568. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently modified their holdings of BASE. Vanguard Group Inc. boosted its stake in Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after purchasing an additional 227,828 shares during the period. EVR Research LP grew its holdings in shares of Couchbase by 9.4% during the second 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 during the last quarter. Hood River Capital Management LLC raised its stake in Couchbase by 7.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,629,893 shares of the company’s stock valued at $29,762,000 after acquiring an additional 118,372 shares during the last quarter. Pembroke Management LTD lifted its position in Couchbase by 18.1% during the 2nd quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock worth $14,788,000 after acquiring an additional 123,927 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Couchbase in the 1st quarter valued at approximately $9,059,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.