Needham & Company LLC Reaffirms “Buy” Rating for Couchbase (NASDAQ:BASE)

Needham & Company LLC reissued their buy rating on shares of Couchbase (NASDAQ:BASE) in a research report released on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock.

BASE has been the subject of a number of other research reports. Guggenheim reaffirmed a “buy” rating and set a $30.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $21.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Truist Financial began coverage on Couchbase in a report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective for the company. Stifel Nicolaus boosted their price objective on Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.19.

Couchbase Stock Performance

Shares of Couchbase stock opened at $17.65 on Wednesday. The stock has a market capitalization of $923.94 million, a P/E ratio of -11.03 and a beta of 0.81. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The stock’s 50-day simple moving average is $17.05 and its 200 day simple moving average is $17.04.

Couchbase (NASDAQ:BASE) last posted its 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). The company had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. Equities research analysts forecast that Couchbase will post -1.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Couchbase news, SVP Huw Owen sold 7,575 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $115,291.50. Following the completion of the sale, the senior vice president now owns 341,709 shares in the company, valued at approximately $5,200,810.98. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 336,679 shares of the company’s stock, valued at $5,097,320.06. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,883 shares of company stock valued at $950,915 over the last quarter. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of Couchbase

Several hedge funds and other institutional investors have recently bought and sold shares of BASE. Creative Planning lifted its position in Couchbase by 59.0% in the third quarter. Creative Planning now owns 17,335 shares of the company’s stock valued at $279,000 after purchasing an additional 6,433 shares during the last quarter. US Bancorp DE lifted its position in Couchbase by 147.8% in the third quarter. US Bancorp DE now owns 19,528 shares of the company’s stock valued at $315,000 after purchasing an additional 11,648 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in 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 purchasing an additional 956 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock valued at $5,951,000 after purchasing an additional 93,301 shares during the last quarter. Finally, Alpha DNA Investment Management LLC raised its holdings in shares of Couchbase by 20.4% during the third quarter. Alpha DNA Investment Management LLC now owns 27,306 shares of the company’s stock valued at $440,000 after acquiring an additional 4,629 shares in the last quarter. 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.