Guggenheim Has Lowered Expectations for Couchbase (NASDAQ:BASE) Stock Price

Couchbase (NASDAQ:BASE) had its price objective reduced by Guggenheim from $30.00 to $26.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on BASE. Morgan Stanley lowered their target price on Couchbase from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. DA Davidson reissued a “buy” rating and set a $25.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Piper Sandler boosted their target price on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Trading Up 0.7 %

Shares of NASDAQ BASE opened at $17.65 on Wednesday. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00. The stock has a fifty day simple moving average of $17.05 and a 200-day simple moving average of $17.04. The stock has a market capitalization of $923.94 million, a PE ratio of -11.03 and a beta of 0.81.

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

Insider Activity

In other Couchbase news, SVP Huw Owen sold 2,993 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.02, for a total transaction of $47,947.86. Following the completion of the sale, the senior vice president now directly owns 325,993 shares of the company’s stock, valued at $5,222,407.86. This represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the 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. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,883 shares of company stock valued at $950,915. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Several hedge funds have recently modified their holdings of BASE. Daiwa Securities Group Inc. increased its stake in Couchbase by 22.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after buying an additional 759 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after acquiring an additional 807 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Couchbase by 15.9% during the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after acquiring an additional 956 shares during the period. Ceera Investments LLC raised its holdings in Couchbase by 3.0% during the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after purchasing an additional 960 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Couchbase by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after purchasing an additional 1,076 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

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.