Couchbase (NASDAQ:BASE) Given New $23.00 Price Target at Morgan Stanley

Couchbase (NASDAQ:BASE) had its price target cut by research analysts at Morgan Stanley from $25.00 to $23.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 27.57% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Couchbase in a report on Wednesday. Barclays cut their price target on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $30.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on shares of Couchbase from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.81.

Couchbase Trading Up 11.0 %

Shares of BASE traded up $1.78 on Wednesday, reaching $18.03. 314,415 shares of the company’s stock were exchanged, compared to its average volume of 458,306. The business has a 50 day moving average price of $16.90 and a two-hundred day moving average price of $17.02. Couchbase has a 12 month low of $13.53 and a 12 month high of $32.00. The stock has a market capitalization of $943.83 million, a P/E ratio of -11.17 and a beta of 0.81.

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

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 7,575 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $115,291.50. Following the completion of the transaction, the senior vice president now owns 341,709 shares of the company’s stock, valued at approximately $5,200,810.98. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 336,679 shares in the company, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,883 shares of company stock valued at $950,915. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Couchbase in the 4th quarter worth about $35,000. Daiwa Securities Group Inc. grew its holdings in shares of Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after buying an additional 807 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Couchbase by 15.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock valued at $112,000 after buying an additional 956 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Couchbase in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.