Couchbase (NASDAQ:BASE) Given New $26.00 Price Target at Guggenheim

Couchbase (NASDAQ:BASE) had its target price cut by Guggenheim from $30.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 44.02% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BASE. Wells Fargo & Company reduced their price target on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday. Piper Sandler upped their target price on shares of Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and set a $25.00 price target on shares of Couchbase in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus raised their price objective on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Couchbase Stock Up 11.1 %

BASE stock traded up $1.80 during trading on Wednesday, hitting $18.05. The company had a trading volume of 388,334 shares, compared to its average volume of 460,438. The firm has a 50-day moving average price of $16.90 and a 200-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 cap of $945.04 million, a price-to-earnings ratio of -11.23 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last announced 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 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. Equities analysts expect that Couchbase will post -1.48 EPS for the current year.

Insider Activity

In related news, CFO Gregory N. Henry sold 9,820 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $17.62, for a total value of $173,028.40. Following the completion of the transaction, the chief financial officer now directly owns 304,555 shares of the company’s stock, valued at approximately $5,366,259.10. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Margaret Chow sold 15,000 shares of the firm’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 sale, the senior vice president now directly owns 133,067 shares of the company’s stock, valued at $2,436,456.77. This represents a 10.13 % decrease in their ownership of the stock. 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.

Institutional Trading of Couchbase

Several hedge funds and other institutional investors have recently bought and sold shares of BASE. Hood River Capital Management LLC raised its stake in shares of Couchbase by 38.2% in the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock worth $42,693,000 after purchasing an additional 756,394 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Couchbase by 72.0% in the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after purchasing an additional 712,936 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Couchbase by 26.8% in the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock valued at $32,569,000 after acquiring an additional 441,770 shares during the last quarter. Portolan Capital Management LLC increased its holdings in Couchbase by 77.8% in the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after purchasing an additional 382,851 shares during the last quarter. Finally, 272 Capital LP purchased a new stake in Couchbase during the third quarter worth about $3,720,000. Institutional investors own 96.07% of the company’s stock.

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.