Royal Bank of Canada Cuts Couchbase (NASDAQ:BASE) Price Target to $22.00

Couchbase (NASDAQ:BASE) had its price objective cut by equities research analysts at Royal Bank of Canada from $25.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 18.18% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Guggenheim cut their price target on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their target price on Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. Piper Sandler increased their price target on Couchbase from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial started coverage on shares of Couchbase in a research note on Thursday, December 12th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Morgan Stanley dropped their target price on shares of Couchbase from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.38.

Couchbase Stock Performance

Shares of NASDAQ:BASE traded up $2.37 during mid-day trading on Wednesday, hitting $18.62. The stock had a trading volume of 480,797 shares, compared to its average volume of 462,536. The company’s 50 day moving average is $16.90 and its 200-day moving average is $17.02. The company has a market cap of $974.46 million, a PE ratio of -11.53 and a beta of 0.81. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00.

Couchbase (NASDAQ:BASE) last issued its 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). The business had revenue of $54.92 million during the quarter, compared to analyst estimates of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. On average, equities research analysts predict that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Transactions at Couchbase

In other news, SVP Margaret Chow sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the transaction, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gregory N. Henry sold 3,853 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.14, for a total value of $58,334.42. Following the completion of the transaction, the chief financial officer now directly owns 336,679 shares in the company, valued at $5,097,320.06. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,883 shares of company stock worth $950,915. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Several large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new stake in shares of Couchbase in the fourth quarter valued at about $382,000. Two Sigma Advisers LP lifted its holdings in shares of Couchbase by 32.4% during the 4th quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock worth $745,000 after acquiring an additional 11,700 shares during the period. ProShare Advisors LLC lifted its position in shares of Couchbase by 36.7% during the 4th quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock worth $231,000 after buying an additional 3,979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Couchbase by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock worth $349,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Couchbase by 5.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 588,439 shares of the company’s stock worth $9,174,000 after buying an additional 32,078 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

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.