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

Needham & Company LLC reissued their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note published on Thursday, Benzinga reports. Needham & Company LLC currently has a $22.00 target price on the stock.

Several other research firms have also weighed in on BASE. Wells Fargo & Company lowered their target price on Couchbase from $37.00 to $30.00 and set an overweight rating on the stock in a report on Thursday, June 6th. Guggenheim reaffirmed a buy rating and issued a $30.00 target price on shares of Couchbase in a research note on Tuesday, June 25th. Piper Sandler started coverage on Couchbase in a report on Friday, August 16th. They issued an overweight rating and a $22.00 price target for the company. Piper Sandler Companies started coverage on Couchbase in a research note on Friday, August 16th. They set an overweight rating and a $22.00 price objective on the stock. Finally, Oppenheimer reduced their target price on shares of Couchbase from $36.00 to $30.00 and set an outperform rating on the stock in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $22.93.

Couchbase Trading Down 1.6 %

Shares of BASE stock opened at $15.85 on Thursday. Couchbase has a 12-month low of $14.12 and a 12-month high of $32.00. The company has a market cap of $797.41 million, a price-to-earnings ratio of -9.66 and a beta of 0.61. The stock has a 50 day simple moving average of $18.22 and a 200-day simple moving average of $22.29.

Couchbase (NASDAQ:BASE) last released its earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.49% and a negative net margin of 41.66%. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same quarter last year, the company earned ($0.44) earnings per share. Couchbase’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities analysts forecast that Couchbase will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Couchbase

In related news, CFO Gregory N. Henry sold 3,982 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $16.52, for a total value of $65,782.64. Following the completion of the sale, the chief financial officer now directly owns 393,060 shares of the company’s stock, valued at $6,493,351.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Couchbase news, CEO Matthew M. Cain sold 8,953 shares of Couchbase stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $20.01, for a total value of $179,149.53. Following the completion of the transaction, the chief executive officer now owns 776,437 shares of the company’s stock, valued at $15,536,504.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory N. Henry sold 3,982 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $16.52, for a total transaction of $65,782.64. Following the sale, the chief financial officer now owns 393,060 shares in the company, valued at approximately $6,493,351.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,987 shares of company stock valued at $668,568 in the last three months. Corporate insiders own 16.10% of the company’s stock.

Institutional Trading of Couchbase

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dana Investment Advisors Inc. grew its stake in Couchbase by 33.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 74,869 shares of the company’s stock worth $1,367,000 after buying an additional 18,889 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Couchbase by 5.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after acquiring an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Couchbase by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock worth $379,000 after acquiring an additional 1,865 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Couchbase in the second quarter worth $300,000. Finally, EVR Research LP increased its holdings in shares of Couchbase by 9.4% during the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after purchasing an additional 179,585 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.