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

Couchbase (NASDAQ:BASE - Free Report) had its price objective boosted by Barclays from $19.00 to $23.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on BASE. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price target on shares of Couchbase in a research report on Thursday, September 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 target price on shares of Couchbase in a research report on Thursday, September 5th. Oppenheimer lowered their price target on shares of Couchbase from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies assumed coverage on shares of Couchbase in a research note on Friday, August 16th. They set an "overweight" rating and a $22.00 price target on the stock. Finally, Wedbush assumed coverage on shares of Couchbase in a research note on Thursday, October 17th. They issued an "outperform" rating and a $26.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.40.

Couchbase Price Performance

Shares of NASDAQ BASE traded up $0.07 during mid-day trading on Friday, reaching $19.25. 380,670 shares of the company's stock were exchanged, compared to its average volume of 482,390. The firm has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $18.79. The firm has a market capitalization of $987.99 million, a price-to-earnings ratio of -12.01 and a beta of 0.59. Couchbase has a 52 week low of $13.53 and a 52 week high of $32.00.

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

Insider Transactions at Couchbase

In related news, Director Edward T. Anderson bought 21,080 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the transaction, the director now owns 85,902 shares of the company's stock, valued at approximately $1,216,372.32. The trade was a 32.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,448 shares of company stock valued at $180,742. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Couchbase

A number of large investors have recently modified their holdings of the company. Portolan Capital Management LLC grew its stake in shares of Couchbase by 77.8% during the third 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. Wasatch Advisors LP grew its holdings in shares of Couchbase by 56.4% in the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company's stock worth $15,964,000 after purchasing an additional 357,169 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Couchbase in the first quarter worth $9,059,000. Vanguard Group Inc. raised its holdings in Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company's stock valued at $106,014,000 after buying an additional 227,828 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Couchbase by 346.2% during the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company's stock valued at $6,928,000 after buying an additional 204,396 shares during the period. 96.07% of the stock is owned by hedge funds and other 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.