Couchbase (NASDAQ:BASE) Shares Gap Down on Analyst Downgrade

Couchbase, Inc. (NASDAQ:BASE) gapped down prior to trading on Wednesday after Morgan Stanley lowered their price target on the stock from $27.00 to $25.00. The stock had previously closed at $21.12, but opened at $18.17. Morgan Stanley currently has an equal weight rating on the stock. Couchbase shares last traded at $16.50, with a volume of 399,251 shares changing hands.

Several other research firms also recently commented on BASE. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Couchbase in a research note on Wednesday. DA Davidson cut their price objective on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Robert W. Baird lowered their target price on shares of Couchbase from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays raised their price target on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $21.00 price objective on shares of Couchbase in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.27.

Insider Activity at Couchbase

In related news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the transaction, the senior vice president now directly owns 373,647 shares in the company, valued at $5,630,860.29. The trade was a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward T. Anderson acquired 21,080 shares of Couchbase stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the transaction, the director now directly owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. This represents a 32.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 10,548 shares of company stock worth $163,390 over the last 90 days. Company insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Hedge funds have recently made changes to their positions in the business. Comerica Bank purchased a new stake in Couchbase in the 1st quarter valued at about $2,077,000. Harbor Capital Advisors Inc. raised its stake in Couchbase by 23.0% during the second quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after purchasing an additional 1,125 shares during the period. SG Americas Securities LLC acquired a new position in shares of Couchbase in the 2nd quarter valued at $1,283,000. Bank of New York Mellon Corp grew its stake in shares of Couchbase by 34.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock valued at $2,997,000 after buying an additional 42,434 shares during the period. Finally, Pembroke Management LTD grew its stake in shares of Couchbase by 18.1% during the 2nd quarter. Pembroke Management LTD now owns 809,876 shares of the company’s stock valued at $14,788,000 after buying an additional 123,927 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Couchbase Stock Performance

The firm has a market capitalization of $845.24 million, a price-to-earnings ratio of -10.29 and a beta of 0.71. The business has a fifty day moving average price of $17.54 and a 200 day moving average price of $18.19.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 57.01% and a negative net margin of 39.31%. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.11 million. During the same period last year, the business posted ($0.44) EPS. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, analysts expect that Couchbase, Inc. will post -1.51 earnings per share for the current year.

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.