Couchbase (NASDAQ:BASE) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Couchbase (NASDAQ:BASE) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $22.00 target price on the stock.

Other research analysts have also issued reports about the company. DA Davidson cut their price objective on Couchbase from $35.00 to $30.00 and set a buy rating on the stock in a research report on Friday, June 7th. Oppenheimer reduced their price objective on Couchbase from $36.00 to $30.00 and set an outperform rating on the stock in a research note on Thursday, June 6th. Robert W. Baird reduced their price objective on Couchbase from $35.00 to $32.00 and set an outperform rating on the stock in a research note on Thursday, June 6th. Wells Fargo & Company reduced their price objective on Couchbase from $37.00 to $30.00 and set an overweight rating on the stock in a research note on Thursday, June 6th. Finally, Morgan Stanley reduced their price objective on Couchbase from $30.00 to $29.00 and set an equal weight rating on the stock in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $28.58.

Couchbase Stock Down 2.5 %

Couchbase stock opened at $18.26 on Wednesday. The firm has a market capitalization of $918.66 million, a P/E ratio of -11.13 and a beta of 0.68. The firm has a fifty day moving average of $22.65 and a 200-day moving average of $24.42. Couchbase has a 52-week low of $13.97 and a 52-week high of $32.00.

Insider Activity at Couchbase

In related news, SVP Margaret Chow sold 1,066 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $27.50, for a total value of $29,315.00. Following the completion of the sale, the senior vice president now directly owns 210,429 shares of the company’s stock, valued at $5,786,797.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Margaret Chow sold 1,066 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $27.50, for a total value of $29,315.00. Following the completion of the sale, the senior vice president now directly owns 210,429 shares of the company’s stock, valued at $5,786,797.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew M. Cain sold 10,053 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $26.58, for a total value of $267,208.74. Following the completion of the sale, the chief executive officer now directly owns 873,405 shares of the company’s stock, valued at $23,215,104.90. The disclosure for this sale can be found here. Insiders sold a total of 67,848 shares of company stock valued at $1,547,562 over the last three months. 16.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Couchbase

Institutional investors have recently made changes to their positions in the stock. Andar Capital Management HK Ltd bought a new position in shares of Couchbase during the fourth quarter valued at approximately $1,216,000. Circumference Group LLC bought a new position in shares of Couchbase during the fourth quarter valued at approximately $4,504,000. Jump Financial LLC bought a new position in shares of Couchbase during the fourth quarter valued at approximately $1,373,000. Federated Hermes Inc. grew its holdings in Couchbase by 8,574.1% in the 4th quarter. Federated Hermes Inc. now owns 12,404 shares of the company’s stock worth $279,000 after buying an additional 12,261 shares in the last quarter. Finally, Tudor Investment Corp Et Al grew its holdings in Couchbase by 40.6% in the 3rd quarter. Tudor Investment Corp Et Al now owns 141,261 shares of the company’s stock worth $2,424,000 after buying an additional 40,808 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

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.