Couchbase (NASDAQ:BASE) Cut to Hold at Rosenblatt Securities

Rosenblatt Securities downgraded shares of Couchbase (NASDAQ:BASE) from a strong-buy rating to a hold rating in a report published on Friday morning, MarketBeat.com reports. Rosenblatt Securities currently has $24.50 target price on the stock, up from their prior target price of $22.00.

Several other analysts also recently commented on BASE. Royal Bank Of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Couchbase in a research note on Wednesday, June 4th. Piper Sandler raised their target price on Couchbase from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Guggenheim reduced their target price on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley raised their target price on Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Couchbase in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.56.

Couchbase Trading Up 29.4%

Shares of Couchbase stock opened at $24.49 on Friday. The business has a 50-day moving average price of $17.95 and a two-hundred day moving average price of $16.81. Couchbase has a 1-year low of $12.78 and a 1-year high of $25.16. The company has a market cap of $1.32 billion, a P/E ratio of -17.88 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $56.52 million during the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS. Equities research analysts forecast that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Activity at Couchbase

In related news, SVP Huw Owen sold 15,938 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $15.43, for a total value of $245,923.34. Following the transaction, the senior vice president now owns 427,699 shares of the company’s stock, valued at approximately $6,599,395.57. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew M. Cain sold 7,833 shares of Couchbase stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $156,738.33. Following the transaction, the chief executive officer now directly owns 952,347 shares in the company, valued at approximately $19,056,463.47. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,904 shares of company stock valued at $622,343. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Couchbase

Several hedge funds have recently modified their holdings of BASE. Rhumbline Advisers lifted its position in shares of Couchbase by 26.2% during the 4th quarter. Rhumbline Advisers now owns 64,229 shares of the company’s stock worth $1,001,000 after buying an additional 13,345 shares in the last quarter. Olympiad Research LP bought a new position in shares of Couchbase during the 4th quarter worth approximately $248,000. Bank of New York Mellon Corp lifted its position in shares of Couchbase by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 134,799 shares of the company’s stock worth $2,102,000 after buying an additional 10,333 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Couchbase by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,699 shares of the company’s stock worth $6,185,000 after buying an additional 27,509 shares in the last quarter. Finally, Ceera Investments LLC lifted its position in shares of Couchbase by 3.0% during the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after buying an additional 960 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.