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

Couchbase (NASDAQ:BASE) had its price objective cut by Morgan Stanley from $25.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also recently weighed in on BASE. Wells Fargo & Company dropped their price target on Couchbase from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial started coverage on shares of Couchbase in a research report on Thursday, December 12th. They issued a “buy” rating and a $21.00 target price on the stock. Barclays reduced their price target on shares of Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Couchbase in a research note on Wednesday, December 4th. Finally, Piper Sandler boosted their target price on shares of Couchbase from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.19.

Couchbase Stock Performance

Shares of NASDAQ:BASE opened at $17.65 on Wednesday. The stock has a market capitalization of $923.94 million, a price-to-earnings ratio of -11.03 and a beta of 0.81. Couchbase has a 1-year low of $13.53 and a 1-year high of $32.00. The company has a 50 day moving average price of $17.05 and a 200 day moving average price of $17.04.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data 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 company had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. On average, sell-side analysts expect that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Couchbase

In related news, SVP Margaret Chow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $18.31, for a total transaction of $274,650.00. Following the transaction, the senior vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,097,320.06. This represents a 1.13 % 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 90 days. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning increased its position in Couchbase by 59.0% during the third quarter. Creative Planning now owns 17,335 shares of the company’s stock worth $279,000 after buying an additional 6,433 shares during the last quarter. US Bancorp DE boosted its stake in shares of Couchbase by 147.8% during the 3rd quarter. US Bancorp DE now owns 19,528 shares of the company’s stock worth $315,000 after acquiring an additional 11,648 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Couchbase by 15.9% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Couchbase by 33.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after acquiring an additional 93,301 shares in the last quarter. Finally, Alpha DNA Investment Management LLC lifted its holdings in Couchbase by 20.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 27,306 shares of the company’s stock worth $440,000 after purchasing an additional 4,629 shares during the last quarter. Institutional investors and hedge funds 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.