Couchbase (NASDAQ:BASE) Shares Gap Up - Time to Buy?

Shares of Couchbase, Inc. (NASDAQ:BASE - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $16.32, but opened at $17.10. Couchbase shares last traded at $16.94, with a volume of 55,744 shares traded.

Analysts Set New Price Targets

BASE has been the subject of a number of research reports. Morgan Stanley dropped their price objective on Couchbase from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Couchbase in a research note on Thursday, September 5th. Piper Sandler Companies initiated coverage on Couchbase in a research note on Friday, August 16th. They issued an "overweight" rating and a $22.00 price objective for the company. DA Davidson dropped their price objective on Couchbase from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Couchbase in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.13.

Couchbase Trading Up 4.6 %

The company has a market capitalization of $858.79 million, a PE ratio of -10.41 and a beta of 0.59. The stock has a fifty day simple moving average of $16.39 and a 200-day simple moving average of $19.85.

Couchbase (NASDAQ:BASE - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. Couchbase's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) EPS. As a group, equities research analysts predict that Couchbase, Inc. will post -1.5 EPS for the current year.

Insiders Place Their Bets

In other Couchbase news, Director Edward T. Anderson purchased 21,080 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, with a total value of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares of the company's stock, valued at approximately $1,216,372.32. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Huw Owen sold 6,736 shares of the business's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now directly owns 373,647 shares of the company's stock, valued at approximately $5,630,860.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward T. Anderson bought 21,080 shares of Couchbase stock in a transaction dated Thursday, September 19th. The stock was purchased at an average cost of $14.16 per share, with a total value of $298,492.80. Following the completion of the acquisition, the director now directly owns 85,902 shares in the company, valued at approximately $1,216,372.32. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 29,056 shares of company stock valued at $538,135 in the last ninety days. Insiders own 16.10% of the company's stock.

Institutional Trading of Couchbase

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning raised its stake in Couchbase by 59.0% during the 3rd quarter. Creative Planning now owns 17,335 shares of the company's stock valued at $279,000 after acquiring an additional 6,433 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in Couchbase by 33.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 74,869 shares of the company's stock valued at $1,367,000 after acquiring an additional 18,889 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Couchbase by 5.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company's stock valued at $237,000 after acquiring an additional 700 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Couchbase by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company's stock valued at $379,000 after acquiring an additional 1,865 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Couchbase during the 2nd quarter valued at approximately $300,000. 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.