Couchbase (NASDAQ:BASE) Sees Large Volume Increase After Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) shares saw unusually-high trading volume on Monday after Barclays raised their price target on the stock from $22.00 to $24.50. Barclays currently has an overweight rating on the stock. Approximately 1,618,632 shares changed hands during trading, an increase of 149% from the previous session’s volume of 650,908 shares.The stock last traded at $24.48 and had previously closed at $24.49.

Several other research firms have also recently commented on BASE. Wells Fargo & Company cut Couchbase from a “strong-buy” rating to a “hold” rating and boosted their price target for the stock from $20.00 to $24.50 in a research note on Friday. UBS Group upped their price objective on Couchbase from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. DA Davidson lowered shares of Couchbase from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.50 in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Finally, Guggenheim dropped their price objective on shares of Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.74.

Insider Activity at Couchbase

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

Institutional Trading of Couchbase

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in Couchbase during the 4th quarter valued at $35,000. AlphaQuest LLC grew its holdings in shares of Couchbase by 20.5% during the first quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock valued at $57,000 after buying an additional 617 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of 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 in the last quarter. Summit Investment Advisors Inc. raised its position in Couchbase by 24.1% during 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 during the period. Finally, CWM LLC lifted its stake in Couchbase by 272.9% in the 1st quarter. CWM LLC now owns 4,191 shares of the company’s stock worth $66,000 after acquiring an additional 3,067 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Couchbase Trading Down 0.1%

The stock has a 50-day simple moving average of $17.95 and a 200 day simple moving average of $16.81. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -17.86 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Couchbase had a negative net margin of 33.23% and a negative return on equity of 55.25%. The business had revenue of $56.52 million during the quarter, compared to analyst estimates of $55.59 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts expect that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

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.