Couchbase (NASDAQ:BASE) Shares Down 7.8% – What’s Next?

Couchbase, Inc. (NASDAQ:BASE) shares dropped 7.8% during trading on Monday . The stock traded as low as $14.53 and last traded at $14.44. Approximately 155,177 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 524,796 shares. The stock had previously closed at $15.67.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BASE shares. Morgan Stanley reduced their price objective on Couchbase from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. UBS Group cut their target price on Couchbase from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler raised their price target on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. DA Davidson reiterated a “buy” rating and set a $25.00 price objective on shares of Couchbase in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada lowered their target price on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.19.

Couchbase Stock Up 2.5 %

The company has a market capitalization of $857.57 million, a PE ratio of -10.09 and a beta of 0.81. The stock’s 50 day moving average is $16.73 and its two-hundred day moving average is $16.65.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). The business had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.25 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. On average, sell-side analysts predict that Couchbase, Inc. will post -1.48 EPS for the current fiscal year.

Insider Transactions at Couchbase

In related news, SVP Huw Owen sold 15,938 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the transaction, the senior vice president now owns 427,699 shares in the company, valued at $6,599,395.57. The trade was a 3.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gregory N. Henry sold 9,820 shares of the firm’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 sale, the chief financial officer now owns 304,555 shares of the company’s stock, valued at approximately $5,366,259.10. This trade represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,393 shares of company stock valued at $1,023,213. Corporate insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Couchbase by 242.9% during the third quarter. Barclays PLC now owns 75,602 shares of the company’s stock valued at $1,218,000 after acquiring an additional 53,555 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Couchbase by 169.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock valued at $3,099,000 after purchasing an additional 120,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Couchbase by 33.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock worth $5,951,000 after buying an additional 93,301 shares during the last quarter. 272 Capital LP acquired a new stake in shares of Couchbase during the third quarter worth $3,720,000. Finally, Geode Capital Management LLC grew 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 valued at $15,228,000 after buying an additional 88,068 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other 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.