Couchbase (NASDAQ:BASE) Price Target Cut to $16.00 by Analysts at The Goldman Sachs Group

Couchbase (NASDAQ:BASE - Get Free Report) had its price objective dropped by investment analysts at The Goldman Sachs Group from $18.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. The Goldman Sachs Group's price target points to a potential downside of 6.38% from the stock's previous close.

Several other brokerages also recently commented on BASE. DA Davidson reissued a "buy" rating and set a $25.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Barclays lowered their price objective on shares of Couchbase from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and issued a $22.00 target price on shares of Couchbase in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Couchbase from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, UBS Group reduced their price objective on Couchbase from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Couchbase presently has a consensus rating of "Moderate Buy" and an average price target of $22.19.

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Couchbase Trading Down 3.2 %

BASE stock traded down $0.56 during mid-day trading on Thursday, hitting $17.09. The stock had a trading volume of 657,072 shares, compared to its average volume of 493,259. The firm has a market capitalization of $894.63 million, a P/E ratio of -10.68 and a beta of 0.81. The firm has a fifty day simple moving average of $17.05 and a 200 day simple moving average of $17.03. 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 Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The business had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. As a group, equities analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Couchbase news, CFO Gregory N. Henry sold 3,853 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.14, for a total transaction of $58,334.42. Following the completion of the sale, the chief financial officer now directly owns 336,679 shares in the company, valued at approximately $5,097,320.06. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total value of $274,650.00. Following the completion of the transaction, the senior vice president now directly owns 133,067 shares of the company's stock, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,883 shares of company stock worth $950,915. 16.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Couchbase by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company's stock valued at $79,916,000 after buying an additional 164,563 shares during the period. Hood River Capital Management LLC grew its holdings in Couchbase by 38.2% in the fourth quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company's stock worth $42,693,000 after purchasing an additional 756,394 shares during the period. EVR Research LP grew its holdings in Couchbase by 2.0% in the fourth quarter. EVR Research LP now owns 2,590,000 shares of the company's stock worth $40,378,000 after purchasing an additional 50,000 shares during the period. Franklin Resources Inc. increased its stake in Couchbase by 26.8% in the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company's stock valued at $32,569,000 after purchasing an additional 441,770 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of Couchbase by 72.0% during the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company's stock valued at $26,554,000 after purchasing an additional 712,936 shares during the period. Institutional investors own 96.07% of the company's stock.

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.