Couchbase’s (BASE) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $22.00 price target on the stock.

BASE has been the subject of several other research reports. Guggenheim reissued a “buy” rating and issued a $30.00 target price on shares of Couchbase in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Couchbase in a research note on Wednesday, December 4th. Truist Financial assumed coverage on Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective for the company. Morgan Stanley reduced their target price on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus increased their price target on shares of Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.31.

Couchbase Stock Up 12.4 %

NASDAQ:BASE opened at $18.26 on Wednesday. The firm’s fifty day simple moving average is $16.96 and its 200 day simple moving average is $17.03. The stock has a market cap of $955.87 million, a P/E ratio of -11.41 and a beta of 0.81. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00.

Couchbase (NASDAQ:BASE) last announced 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). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. On average, analysts expect that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Activity

In other news, CFO Gregory N. Henry sold 9,820 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $17.62, for a total transaction of $173,028.40. Following the transaction, the chief financial officer now directly owns 304,555 shares of the company’s stock, valued at $5,366,259.10. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were 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 $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 a total of 54,883 shares of company stock worth $950,915 over the last 90 days. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Couchbase

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hood River Capital Management LLC raised its holdings in shares of Couchbase by 38.2% during the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after purchasing an additional 756,394 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Couchbase by 72.0% in the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock worth $26,554,000 after purchasing an additional 712,936 shares during the last quarter. Franklin Resources Inc. grew its position in Couchbase by 26.8% in the 4th quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock worth $32,569,000 after purchasing an additional 441,770 shares during the period. Portolan Capital Management LLC raised its stake in Couchbase by 77.8% during the 3rd quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after buying an additional 382,851 shares during the last quarter. Finally, 272 Capital LP bought a new position in shares of Couchbase during the 3rd quarter valued at $3,720,000. Institutional investors own 96.07% of the company’s stock.

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.