Couchbase (NASDAQ:BASE) Shares Gap Down – What’s Next?

Couchbase, Inc. (NASDAQ:BASE)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $20.64, but opened at $20.02. Couchbase shares last traded at $20.02, with a volume of 236 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BASE shares. Robert W. Baird lowered their price objective on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Piper Sandler Companies initiated coverage on shares of Couchbase in a research note on Friday, August 16th. They issued an “overweight” rating and a $22.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a research note on Thursday, September 5th. Morgan Stanley lowered their target price on Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler cut their price target on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Couchbase presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Couchbase Stock Down 0.4 %

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -12.79 and a beta of 0.59. The stock has a fifty day moving average of $16.85 and a 200-day moving average of $18.41.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same quarter in the prior year, the business posted ($0.44) EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities analysts forecast that Couchbase, Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward T. Anderson bought 21,080 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $14.16 per share, with a total value of $298,492.80. Following the transaction, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. This trade represents a 32.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the transaction, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,448 shares of company stock valued at $180,742. 16.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Portolan Capital Management LLC boosted its stake in shares of Couchbase by 77.8% during the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock worth $14,102,000 after buying an additional 382,851 shares during the period. Wasatch Advisors LP lifted its position in Couchbase by 56.4% during the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after acquiring an additional 357,169 shares during the period. Franklin Resources Inc. grew its stake in shares of Couchbase by 27.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after purchasing an additional 353,233 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Couchbase by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after purchasing an additional 227,828 shares during the period. Finally, EVR Research LP raised its stake 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 purchasing an additional 179,585 shares during the last quarter. 96.07% of the stock is 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.