Couchbase (NASDAQ:BASE) Price Target Cut to $22.00 by Analysts at Royal Bank of Canada

Couchbase (NASDAQ:BASE - Free Report) had its target price decreased by Royal Bank of Canada from $25.00 to $22.00 in a research report report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. Guggenheim reduced their target price on shares of Couchbase from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Wednesday. Piper Sandler raised their price objective on shares of Couchbase from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday. Robert W. Baird cut their price objective on shares of Couchbase from $27.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, December 4th. Truist Financial started coverage on shares of Couchbase in a report on Thursday, December 12th. They set a "buy" rating and a $21.00 price objective on the stock. Finally, Morgan Stanley cut their price objective on shares of Couchbase from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Couchbase has an average rating of "Moderate Buy" and an average price target of $22.19.

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Couchbase Trading Up 0.7 %

NASDAQ:BASE traded up $0.12 during mid-day trading on Wednesday, hitting $17.65. The stock had a trading volume of 423,924 shares, compared to its average volume of 489,060. The stock has a 50-day simple moving average of $17.05 and a two-hundred day simple moving average of $17.03. The company has a market capitalization of $923.94 million, a PE ratio of -11.03 and a beta of 0.81. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00.

Couchbase (NASDAQ:BASE - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The firm had revenue of $54.92 million during the quarter, compared to analyst estimates of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. Sell-side analysts predict that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Transactions at Couchbase

In related news, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total value of $274,650.00. Following the transaction, the senior vice president now directly owns 133,067 shares in the company, valued at $2,436,456.77. This trade represents a 10.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of Couchbase stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.14, for a total transaction of $58,334.42. Following the completion of the transaction, the chief financial officer now owns 336,679 shares in the company, valued at approximately $5,097,320.06. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,883 shares of company stock worth $950,915. Insiders own 16.10% of the company's stock.

Hedge Funds Weigh In On Couchbase

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in Couchbase in the fourth quarter valued at $35,000. Summit Investment Advisors Inc. lifted its holdings in Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company's stock valued at $65,000 after acquiring an additional 807 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Couchbase by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company's stock valued at $65,000 after acquiring an additional 759 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Couchbase by 15.9% in the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company's stock valued at $112,000 after acquiring an additional 956 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Couchbase in the fourth quarter valued at $112,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

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.