Couchbase (NASDAQ:BASE) Price Target Lowered to $20.00 at Wells Fargo & Company

Couchbase (NASDAQ:BASE) had its price objective cut by equities researchers at Wells Fargo & Company from $23.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.98% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Robert W. Baird reduced their price objective on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. Barclays dropped their price target on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial assumed coverage on shares of Couchbase in a research report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus raised their price objective on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lifted their price objective on Couchbase from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.94.

Couchbase Trading Up 11.9 %

Couchbase stock opened at $18.19 on Wednesday. The firm has a market cap of $951.95 million, a price-to-earnings ratio of -11.37 and a beta of 0.81. Couchbase has a 12 month low of $13.53 and a 12 month high of $32.00. The stock has a fifty day simple moving average of $16.90 and a two-hundred day simple moving average of $17.02.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative return on equity of 57.22% and a negative net margin of 39.31%. The company had revenue of $54.92 million during the quarter, compared to analysts’ expectations of $53.25 million. On average, equities research analysts forecast that Couchbase will post -1.48 EPS for the current fiscal year.

Insider Activity

In other news, SVP Margaret Chow sold 15,000 shares of Couchbase stock in a transaction 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. The trade was a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory N. Henry sold 3,853 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.14, for a total value of $58,334.42. Following the completion of the transaction, the chief financial officer now owns 336,679 shares of the company’s stock, valued at $5,097,320.06. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,883 shares of company stock worth $950,915. 16.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Couchbase

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Couchbase by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 5,126,087 shares of the company’s stock worth $79,916,000 after acquiring an additional 164,563 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of Couchbase by 38.2% in the 4th quarter. Hood River Capital Management LLC now owns 2,738,468 shares of the company’s stock valued at $42,693,000 after purchasing an additional 756,394 shares in the last quarter. EVR Research LP boosted its position in Couchbase by 2.0% during the fourth quarter. EVR Research LP now owns 2,590,000 shares of the company’s stock worth $40,378,000 after purchasing an additional 50,000 shares in the last quarter. Franklin Resources Inc. boosted its position in Couchbase by 26.8% during the fourth quarter. Franklin Resources Inc. now owns 2,089,104 shares of the company’s stock worth $32,569,000 after purchasing an additional 441,770 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Couchbase by 72.0% in the fourth quarter. Wasatch Advisors LP now owns 1,703,267 shares of the company’s stock valued at $26,554,000 after buying an additional 712,936 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.