Guggenheim Issues Pessimistic Forecast for Couchbase (NASDAQ:BASE) Stock Price

Couchbase (NASDAQ:BASE) had its target price lowered by equities researchers at Guggenheim from $30.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 48.32% from the company’s current price.

Several other analysts have also recently commented on BASE. Wells Fargo & Company dropped their price target on Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday. Robert W. Baird dropped their target price on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Couchbase in a research report on Wednesday, December 4th. Barclays lowered their price target on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley dropped their target price on Couchbase from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.19.

Couchbase Stock Down 4.0 %

BASE opened at $17.53 on Wednesday. The firm’s fifty day simple moving average is $17.01 and its two-hundred day simple moving average is $17.03. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The company has a market cap of $917.66 million, a price-to-earnings ratio of -10.96 and a beta of 0.81.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $53.25 million. On average, research analysts forecast that Couchbase will post -1.48 EPS for the current year.

Insider Buying and Selling at Couchbase

In other news, CFO Gregory N. Henry sold 3,853 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 336,679 shares in the company, valued at approximately $5,097,320.06. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Huw Owen sold 7,575 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $115,291.50. Following the completion of the transaction, the senior vice president now directly owns 341,709 shares in the company, valued at $5,200,810.98. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,883 shares of company stock worth $950,915 over the last three months. Insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

Several institutional investors and hedge funds have recently made changes to their positions in BASE. Daiwa Securities Group Inc. grew its stake in Couchbase by 22.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after buying an additional 759 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of 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. Harbor Capital Advisors Inc. boosted its holdings in shares of 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. Ceera Investments LLC grew its position in shares of Couchbase by 3.0% during the fourth quarter. Ceera Investments LLC now owns 32,920 shares of the company’s stock worth $513,000 after acquiring an additional 960 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Couchbase by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,361 shares of the company’s stock valued at $349,000 after acquiring an additional 1,076 shares during the period. 96.07% of the stock is owned by hedge funds and other 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.