Couchbase (NASDAQ:BASE) Shares Gap Up on Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) shares gapped up before the market opened on Wednesday after Piper Sandler raised their price target on the stock from $21.00 to $22.00. The stock had previously closed at $16.25, but opened at $18.11. Piper Sandler currently has an overweight rating on the stock. Couchbase shares last traded at $17.73, with a volume of 238,618 shares trading hands.

Several other research firms have also recently weighed in on BASE. Truist Financial assumed coverage on Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective on the stock. DA Davidson restated a “buy” rating and set a $25.00 price target on shares of Couchbase in a research report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price target on shares of Couchbase in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.94.

Insider Activity

In related news, SVP Margaret Chow sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 represents a 10.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory N. Henry sold 9,820 shares of Couchbase stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.62, for a total value of $173,028.40. Following the completion of the sale, the chief financial officer now directly owns 304,555 shares of the company’s stock, valued at approximately $5,366,259.10. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock worth $950,915 over the last 90 days. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in shares of Couchbase by 242.9% in the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock worth $1,218,000 after acquiring an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock worth $5,951,000 after purchasing an additional 93,301 shares during the last quarter. JPMorgan Chase & Co. grew its position in Couchbase by 169.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after purchasing an additional 120,975 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Couchbase during the 3rd quarter valued at $772,000. Finally, 272 Capital LP bought a new position in shares of Couchbase during the 3rd quarter valued at $3,720,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Trading Up 9.2 %

The stock has a market capitalization of $928.71 million, a PE ratio of -11.08 and a beta of 0.81. The stock has a 50 day moving average price of $16.90 and a 200-day moving average price of $17.02.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) 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 analysts’ expectations of $53.25 million. Research analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current year.

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.