Couchbase (NASDAQ:BASE) Shares Gap Up on Earnings Beat

Couchbase, Inc. (NASDAQ:BASEGet Rating) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $14.85, but opened at $15.35. Couchbase shares last traded at $14.78, with a volume of 732 shares trading hands.

The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. Couchbase had a negative net margin of 45.80% and a negative return on equity of 35.10%. The company had revenue of $39.79 million for the quarter, compared to analyst estimates of $35.86 million. During the same period in the prior year, the company posted ($1.76) EPS. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Couchbase in a research note on Thursday. The Goldman Sachs Group decreased their target price on shares of Couchbase from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, June 9th. Morgan Stanley increased their target price on shares of Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday. Barclays decreased their target price on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada decreased their target price on shares of Couchbase from $27.00 to $25.00 in a research report on Monday, June 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Institutional Trading of Couchbase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of Couchbase in the second quarter valued at about $251,000. Legal & General Group Plc grew its position in shares of Couchbase by 10.9% in the second quarter. Legal & General Group Plc now owns 6,307 shares of the company’s stock valued at $103,000 after purchasing an additional 622 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Couchbase by 10.3% in the second quarter. Goldman Sachs Group Inc. now owns 64,170 shares of the company’s stock valued at $1,053,000 after purchasing an additional 6,012 shares during the period. Jane Street Group LLC acquired a new stake in shares of Couchbase in the second quarter valued at about $268,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Couchbase in the second quarter valued at about $459,000. Institutional investors and hedge funds own 64.94% of the company’s stock.

Couchbase Stock Down 0.7 %

The firm has a market cap of $695.00 million, a price-to-earnings ratio of -10.68 and a beta of 0.67. The company’s 50-day moving average price is $16.68 and its 200-day moving average price is $16.50.

About Couchbase

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Couchbase, Inc provides a database for enterprise applications worldwide. 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 Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++, that allows for a various array of data manipulation functions; and Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments.

Further Reading

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