Wedbush Initiates Coverage on Couchbase (NASDAQ:BASE)

Wedbush assumed coverage on shares of Couchbase (NASDAQ:BASE - Free Report) in a research note released on Thursday morning, StockNewsAPI reports. The firm issued an outperform rating and a $26.00 target price on the stock.

BASE has been the topic of several other reports. Stifel Nicolaus reduced their target price on Couchbase from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their price objective on Couchbase from $29.00 to $27.00 and set an "equal weight" rating on the stock in a report on Thursday, September 5th. Barclays raised Couchbase from an "equal weight" rating to an "overweight" rating and set a $19.00 price objective on the stock in a report on Monday, October 7th. Robert W. Baird reduced their price objective on Couchbase from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Couchbase in a report on Thursday, September 5th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.13.

Couchbase Stock Performance

Shares of BASE stock traded up $0.75 during trading hours on Thursday, hitting $17.07. The company had a trading volume of 469,781 shares, compared to its average volume of 503,988. Couchbase has a 12 month low of $13.53 and a 12 month high of $32.00. The firm has a market capitalization of $858.79 million, a price-to-earnings ratio of -10.41 and a beta of 0.59. The firm's fifty day moving average is $16.39 and its 200 day moving average is $19.85.

Couchbase (NASDAQ:BASE - Get Free Report) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. During the same period in the prior year, the company posted ($0.44) EPS. The company's revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts expect that Couchbase will post -1.5 EPS for the current fiscal year.

Insider Transactions at Couchbase

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

Institutional Trading of Couchbase

Several hedge funds and other institutional investors have recently modified their holdings of BASE. Point72 Asset Management L.P. increased its position in shares of Couchbase by 5.7% in the second 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. NBC Securities Inc. acquired a new stake in shares of Couchbase in the first quarter valued at about $26,000. Harbor Capital Advisors Inc. increased its position in shares of Couchbase by 23.0% in the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company's stock valued at $110,000 after acquiring an additional 1,125 shares during the last quarter. Swiss National Bank increased its position in shares of Couchbase by 2.3% in the first quarter. Swiss National Bank now owns 61,700 shares of the company's stock valued at $1,623,000 after acquiring an additional 1,400 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Couchbase by 9.9% in the second 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. Institutional investors and hedge funds own 96.07% of the company's stock.

Couchbase Company Profile

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.