Barclays Increases Couchbase (NASDAQ:BASE) Price Target to $23.00

Couchbase (NASDAQ:BASE) had its price target lifted by equities research analysts at Barclays from $19.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 17.05% from the company’s previous close.

Several other research firms also recently commented on BASE. Wedbush began coverage on shares of Couchbase in a research report on Thursday, October 17th. They set an “outperform” rating and a $26.00 target price for the company. UBS Group decreased their price objective on Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. DA Davidson cut their target price on Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Oppenheimer decreased their price target on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.40.

Couchbase Trading Up 2.5 %

BASE stock traded up $0.47 during trading on Friday, reaching $19.65. 84,890 shares of the stock were exchanged, compared to its average volume of 481,058. The firm’s 50 day moving average is $15.98 and its 200 day moving average is $18.79. The firm has a market cap of $1.01 billion, a P/E ratio of -12.36 and a beta of 0.59. Couchbase has a twelve month low of $13.53 and a twelve month high of $32.00.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. During the same period in the prior year, the firm earned ($0.44) earnings per share. Couchbase’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, analysts predict that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Couchbase

In other news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward T. Anderson purchased 21,080 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the purchase, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. This represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 11,448 shares of company stock worth $180,742 in the last quarter. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC bought a new position in shares of Couchbase in the second quarter worth $47,000. Point72 Hong Kong Ltd purchased a new stake in Couchbase during the 2nd quarter worth about $67,000. Harbor Capital Advisors Inc. lifted its holdings in Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after purchasing an additional 1,125 shares in the last quarter. ProShare Advisors LLC bought a new position in Couchbase in the 1st quarter worth about $230,000. Finally, Arizona State Retirement System grew its holdings in Couchbase by 28.5% during the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after buying an additional 2,445 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Couchbase Company Profile

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.