Couchbase (NASDAQ:BASE) Given a $24.50 Price Target at Stifel Nicolaus

Couchbase (NASDAQ:BASE) has been given a $24.50 target price by stock analysts at Stifel Nicolaus in a research note issued on Tuesday, MarketBeat Ratings reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 1.58% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Morgan Stanley increased their price target on shares of Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 4th. Truist Financial reaffirmed a “hold” rating and issued a $24.50 price target (up from $21.00) on shares of Couchbase in a research note on Monday. Wells Fargo & Company cut Couchbase from a “strong-buy” rating to a “hold” rating and lifted their price target for the stock from $20.00 to $24.50 in a research note on Friday, June 20th. Piper Sandler cut shares of Couchbase from a “strong-buy” rating to a “hold” rating and raised their target price for the stock from $20.00 to $24.50 in a report on Friday, June 20th. Finally, Barclays raised their target price on shares of Couchbase from $22.00 to $24.50 and gave the stock an “overweight” rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Couchbase currently has an average rating of “Hold” and a consensus target price of $23.09.

Couchbase Price Performance

Shares of NASDAQ BASE opened at $24.12 on Tuesday. Couchbase has a one year low of $12.78 and a one year high of $25.16. The firm’s 50 day simple moving average is $18.52 and its two-hundred day simple moving average is $16.97. The stock has a market capitalization of $1.30 billion, a P/E ratio of -17.61 and a beta of 0.82.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $55.59 million. During the same period last year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal year.

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 shares were sold at an average price of $20.01, for a total value of $156,738.33. Following the sale, the chief executive officer now owns 952,347 shares in the company, valued at $19,056,463.47. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William Robert Carey sold 2,300 shares of Couchbase stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $19.50, for a total transaction of $44,850.00. Following the completion of the sale, the chief financial officer now owns 94,780 shares in the company, valued at approximately $1,848,210. This trade represents a 2.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,708 shares of company stock worth $2,463,649 over the last quarter. Corporate insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Several hedge funds have recently made changes to their positions in BASE. Rhumbline Advisers boosted its position in shares of Couchbase by 26.2% during the fourth quarter. Rhumbline Advisers now owns 64,229 shares of the company’s stock valued at $1,001,000 after purchasing an additional 13,345 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 valued at $2,102,000 after buying an additional 10,333 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $6,185,000 after buying an additional 27,509 shares in the last quarter. Ceera Investments LLC boosted its holdings in shares of Couchbase by 3.0% during the 4th quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock valued at $513,000 after buying an additional 960 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Couchbase by 22.2% during the 4th 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. 96.07% of the stock is currently owned by institutional investors.

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.