UBS Group Cuts Couchbase (NASDAQ:BASE) Price Target to $18.00

Couchbase (NASDAQ:BASE) had its price objective reduced by UBS Group from $19.00 to $18.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently issued reports on the stock. DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Wells Fargo & Company reduced their target price on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial initiated coverage on shares of Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 price target on the stock. Royal Bank of Canada reduced their price objective on Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Guggenheim lowered their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

Couchbase Stock Up 12.4 %

Shares of NASDAQ BASE opened at $18.26 on Wednesday. The firm’s 50-day moving average price is $16.96 and its two-hundred day moving average price is $17.03. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The stock has a market capitalization of $955.87 million, a P/E ratio of -11.41 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last announced its quarterly 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). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The company had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. As a group, equities research analysts expect that Couchbase will post -1.48 earnings per share for the current year.

Insider Activity

In related news, SVP Huw Owen sold 2,993 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.02, for a total value of $47,947.86. Following the sale, the senior vice president now directly owns 325,993 shares in the company, valued at $5,222,407.86. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory N. Henry sold 3,853 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were 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 of the company’s stock, valued at approximately $5,097,320.06. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 company insiders.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently modified their holdings of the stock. Creative Planning lifted its holdings in shares of Couchbase by 59.0% during the third quarter. Creative Planning now owns 17,335 shares of the company’s stock valued at $279,000 after purchasing an additional 6,433 shares during the last quarter. US Bancorp DE raised its holdings 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 buying an additional 11,648 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Couchbase by 15.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after buying an additional 956 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Couchbase by 33.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after buying an additional 93,301 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its holdings in shares of 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 buying an additional 4,629 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.