Barclays Raises Couchbase (NASDAQ:BASE) Price Target to $23.00

Couchbase (NASDAQ:BASE) had its target price hoisted by Barclays from $19.00 to $23.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently issued reports on BASE. Stifel Nicolaus dropped their price target on shares of Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley cut their target price on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. UBS Group decreased their price target on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Couchbase in a research note on Thursday, September 5th. Finally, Piper Sandler Companies assumed coverage on Couchbase in a research report on Friday, August 16th. They issued an “overweight” rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Couchbase Stock Performance

BASE stock opened at $19.25 on Friday. Couchbase has a one year low of $13.53 and a one year high of $32.00. The firm’s fifty day moving average is $16.05 and its 200 day moving average is $18.68. The firm has a market cap of $987.91 million, a PE ratio of -12.11 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last posted its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm earned ($0.44) EPS. Research analysts predict that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the transaction, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward T. Anderson bought 21,080 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were acquired at an average cost of $14.16 per share, with a total value of $298,492.80. Following the purchase, the director now owns 85,902 shares of the company’s stock, valued at $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 11,448 shares of company stock valued at $180,742 in the last three months. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Couchbase

Several large investors have recently modified their holdings of BASE. Portolan Capital Management LLC raised its holdings in Couchbase by 77.8% in 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 period. Wasatch Advisors LP raised its stake in shares of Couchbase by 56.4% in the 3rd quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after acquiring an additional 357,169 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Couchbase in the 1st quarter worth approximately $9,059,000. Vanguard Group Inc. boosted its position in shares of Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock worth $106,014,000 after purchasing an additional 227,828 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Couchbase by 346.2% during the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after purchasing an additional 204,396 shares during the period. Institutional investors and hedge funds 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.