Couchbase (NASDAQ:BASE) Stock Price Up 5% – Still a Buy?

Couchbase, Inc. (NASDAQ:BASE)’s share price was up 5% during mid-day trading on Friday . The stock traded as high as $15.85 and last traded at $15.40. Approximately 400,129 shares traded hands during trading, a decline of 22% from the average daily volume of 510,288 shares. The stock had previously closed at $14.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $25.00 target price on shares of Couchbase in a report on Wednesday, December 4th. Wells Fargo & Company cut their target price on shares of Couchbase from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on Couchbase from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Barclays cut their price objective on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial began coverage on Couchbase in a report on Thursday, December 12th. They set a “buy” rating and a $21.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.19.

Couchbase Stock Up 6.9 %

The firm has a market capitalization of $820.29 million, a price-to-earnings ratio of -9.79 and a beta of 0.81. The company’s fifty day moving average is $16.75 and its two-hundred day moving average is $16.62.

Couchbase (NASDAQ:BASE) last posted its quarterly 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). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million during the quarter, compared to analyst estimates of $53.25 million. On average, equities research analysts expect that Couchbase, Inc. will post -1.48 EPS for the current year.

Insider Activity

In related news, CFO Gregory N. Henry sold 9,820 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.62, for a total transaction of $173,028.40. Following the completion of the transaction, the chief financial officer now owns 304,555 shares in the company, valued at approximately $5,366,259.10. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret Chow sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 owns 133,067 shares in the company, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,455 shares of company stock valued at $777,289 in the last ninety days. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Couchbase by 242.9% during the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock worth $1,218,000 after purchasing an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 buying an additional 93,301 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Couchbase by 169.8% in the third quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock valued at $3,099,000 after buying an additional 120,975 shares during the period. 272 Capital LP bought a new stake in shares of Couchbase during the third quarter worth $3,720,000. Finally, Geode Capital Management LLC raised its holdings in shares of Couchbase by 10.3% during the third quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock worth $15,228,000 after acquiring an additional 88,068 shares during the period. 96.07% of the stock is currently owned by institutional investors.

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.