Guggenheim Cuts Couchbase (NASDAQ:BASE) Price Target to $26.00

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

Several other analysts have also commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Couchbase in a report on Wednesday. Barclays dropped their price objective on Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday. DA Davidson reissued a “buy” rating and issued a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Robert W. Baird dropped their price objective on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, Wells Fargo & Company dropped their price objective on Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.19.

Couchbase Stock Up 0.7 %

Couchbase stock opened at $17.65 on Wednesday. The firm has a market cap of $923.94 million, a price-to-earnings ratio of -11.03 and a beta of 0.81. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00. The business’s 50-day moving average price is $17.05 and its 200 day moving average price is $17.04.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The company had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. Equities analysts expect that Couchbase will post -1.48 EPS for the current year.

Insider Transactions at Couchbase

In related news, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the transaction, the senior vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gregory N. Henry sold 3,853 shares of Couchbase stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.14, for a total value of $58,334.42. Following the transaction, the chief financial officer now owns 336,679 shares in the company, valued at approximately $5,097,320.06. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,883 shares of company stock valued at $950,915 over the last ninety days. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in Couchbase by 242.9% in the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock valued at $1,218,000 after purchasing an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. raised its position in Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after purchasing an additional 93,301 shares during the period. JPMorgan Chase & Co. raised its position in Couchbase by 169.8% in the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock valued at $3,099,000 after purchasing an additional 120,975 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Couchbase in the third quarter valued at $772,000. Finally, 272 Capital LP purchased a new stake in Couchbase in the third quarter valued at $3,720,000. Hedge funds and other 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.