Couchbase (NASDAQ:BASE) Trading Up 4.3% – What’s Next?

Couchbase, Inc. (NASDAQ:BASE) shot up 4.3% during mid-day trading on Thursday . The company traded as high as $13.95 and last traded at $14.16. Approximately 96,195 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 501,803 shares. The stock had previously closed at $13.58.

Analysts Set New Price Targets

Several research firms have commented on BASE. Royal Bank of Canada reduced their price objective on Couchbase from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Guggenheim cut their price target on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. UBS Group lowered their price objective on shares of Couchbase from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group cut their target price on Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Finally, Stifel Nicolaus lifted their target price on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.19.

Couchbase Price Performance

The firm has a market cap of $744.91 million, a price-to-earnings ratio of -8.91 and a beta of 0.81. The firm has a fifty day simple moving average of $16.95 and a two-hundred day simple moving average of $16.74.

Couchbase (NASDAQ:BASE) last issued its earnings results on Tuesday, February 25th. The company reported ($0.30) EPS 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 analysts’ expectations of $53.25 million. Equities analysts anticipate that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 14,742 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $18.05, for a total value of $266,093.10. Following the completion of the transaction, the senior vice president now owns 311,251 shares of the company’s stock, valued at $5,618,080.55. The trade was a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,883 shares of company stock worth $950,915 over the last 90 days. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BASE. Quarry LP purchased a new position in shares of Couchbase during the 4th quarter valued at approximately $35,000. Daiwa Securities Group Inc. grew its position in Couchbase by 22.2% during the fourth 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. increased its holdings in 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 buying an additional 807 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Couchbase in the fourth quarter worth about $112,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Couchbase during the 4th quarter worth about $165,000. 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.