Couchbase (NASDAQ:BASE) Trading Up 7.9% – Here’s What Happened

Couchbase, Inc. (NASDAQ:BASE) was up 7.9% on Tuesday . The company traded as high as $18.31 and last traded at $18.46. Approximately 278,479 shares traded hands during trading, a decline of 35% from the average daily volume of 426,754 shares. The stock had previously closed at $17.11.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Morgan Stanley cut their price objective on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $21.00 price target on shares of Couchbase in a report on Wednesday, December 4th. Finally, Barclays raised their price objective on Couchbase from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One 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 company. Based on data from MarketBeat.com, Couchbase has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Couchbase Stock Performance

The stock has a market capitalization of $955.91 million, a price-to-earnings ratio of -11.41 and a beta of 0.79. The business has a 50-day moving average of $17.00 and a 200-day moving average of $17.06.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.27). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. During the same period in the previous year, the business earned ($0.34) EPS. Equities analysts predict that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.14, for a total transaction of $58,334.42. Following the completion of the transaction, the chief financial officer now directly owns 336,679 shares of the company’s stock, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Huw Owen sold 7,575 shares of Couchbase stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction 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 $5,200,810.98. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,975 shares of company stock valued at $518,645 in the last 90 days. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Hedge funds have recently added to or reduced their stakes in the stock. Portolan Capital Management LLC boosted its stake in Couchbase by 77.8% in the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after acquiring an additional 382,851 shares in the last quarter. Wasatch Advisors LP increased its position in Couchbase by 56.4% during the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after buying an additional 357,169 shares during the period. Franklin Resources Inc. increased its position in Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock worth $27,379,000 after buying an additional 353,233 shares during the period. 272 Capital LP purchased a new stake in Couchbase in the third quarter valued at approximately $3,720,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Couchbase by 169.8% in the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock valued at $3,099,000 after acquiring an additional 120,975 shares during the period. 96.07% of the stock is currently 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.