Couchbase (NASDAQ:BASE) Shares Up 7.9% – Here’s What Happened

Shares of Couchbase, Inc. (NASDAQ:BASE) were up 7.9% on Tuesday . The stock traded as high as $18.31 and last traded at $18.46. Approximately 278,479 shares changed hands during trading, a decline of 35% from the average daily volume of 426,754 shares. The stock had previously closed at $17.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays lifted their price target on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird cut their price target 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. Guggenheim reaffirmed a “buy” rating and set a $30.00 target price on shares of Couchbase in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on shares of Couchbase from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price target on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Couchbase currently has an average rating of “Moderate Buy” and a consensus price target of $23.13.

Couchbase Stock Performance

The firm has a fifty day moving average price of $17.00 and a two-hundred day moving average price of $17.06. The stock has a market capitalization of $955.91 million, a P/E ratio of -11.41 and a beta of 0.79.

Couchbase (NASDAQ:BASE) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.27). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. During the same period in the previous year, the firm earned ($0.34) EPS. On average, research analysts anticipate that Couchbase, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Couchbase news, 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 value of $58,334.42. Following the sale, the chief financial officer now directly owns 336,679 shares in the company, valued at approximately $5,097,320.06. The trade was 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 Huw Owen sold 2,993 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.02, for a total transaction of $47,947.86. Following the transaction, the senior vice president now directly owns 325,993 shares of the company’s stock, valued at $5,222,407.86. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,975 shares of company stock valued at $518,645. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BASE. Renaissance Technologies LLC raised its stake in Couchbase by 614.0% during the second quarter. Renaissance Technologies LLC now owns 86,400 shares of the company’s stock valued at $1,578,000 after purchasing an additional 74,299 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Couchbase by 266.5% in the 2nd quarter. Squarepoint Ops LLC now owns 114,283 shares of the company’s stock valued at $2,087,000 after purchasing an additional 83,104 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Couchbase in the 2nd quarter worth approximately $300,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Couchbase by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock worth $379,000 after purchasing an additional 1,865 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of 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 purchasing an additional 700 shares during the last quarter. 96.07% of the stock is currently owned by 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.