Couchbase (NASDAQ:BASE) Price Target Cut to $22.00 by Analysts at Barclays

Couchbase (NASDAQ:BASE) had its target price decreased by Barclays from $23.00 to $22.00 in a research report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently commented on BASE. Morgan Stanley lowered their target price 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. Stifel Nicolaus increased their target price on shares of Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and issued a $25.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Finally, Robert W. Baird decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Price Performance

Shares of BASE stock opened at $17.65 on Wednesday. The firm has a 50-day moving average of $17.05 and a 200-day moving average of $17.04. The company has a market cap of $923.94 million, a P/E ratio of -11.03 and a beta of 0.81. Couchbase has a one year low of $13.53 and a one year high of $32.00.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.22). The firm had revenue of $54.92 million during 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%. As a group, research analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Margaret Chow sold 15,000 shares of the business’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 completion of the sale, the senior vice president now directly owns 133,067 shares in the company, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock valued at $950,915 over the last quarter. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in Couchbase during the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. grew its stake in Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after acquiring an additional 759 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Couchbase by 24.1% during 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 in the last quarter. Harbor Capital Advisors Inc. grew its stake in Couchbase by 15.9% during 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 in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Couchbase during the fourth quarter valued at approximately $112,000. Hedge funds and other 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.