Couchbase (NASDAQ:BASE) Shares Down 2.5% – What’s Next?

Couchbase, Inc. (NASDAQ:BASE)’s stock price traded down 2.5% during mid-day trading on Wednesday . The stock traded as low as $16.41 and last traded at $16.41. 37,148 shares were traded during mid-day trading, a decline of 93% from the average session volume of 502,424 shares. The stock had previously closed at $16.83.

Analyst Ratings Changes

Several analysts recently weighed in on BASE shares. Morgan Stanley decreased their target price on Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Oppenheimer reduced their price objective on Couchbase from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Couchbase in a report on Thursday, September 5th. Robert W. Baird cut their price target on shares of Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Guggenheim restated a “buy” rating and issued a $30.00 price target on shares of Couchbase in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.93.

Couchbase Stock Down 1.8 %

The stock’s fifty day moving average price is $16.42 and its 200-day moving average price is $19.90. The company has a market capitalization of $831.12 million, a price-to-earnings ratio of -10.26 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same quarter in the prior year, the firm posted ($0.44) EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. Analysts anticipate that Couchbase, Inc. will post -1.5 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Margaret Chow sold 2,290 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total transaction of $45,800.00. Following the transaction, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at approximately $3,849,160. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Margaret Chow sold 2,290 shares of Couchbase stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $20.00, for a total transaction of $45,800.00. Following the completion of the sale, the senior vice president now directly owns 192,458 shares of the company’s stock, valued at approximately $3,849,160. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the sale, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at $5,630,860.29. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,056 shares of company stock valued at $538,135 over the last 90 days. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Couchbase

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Couchbase by 59.0% in the third quarter. Creative Planning now owns 17,335 shares of the company’s stock valued at $279,000 after purchasing an additional 6,433 shares in the last quarter. Dana Investment Advisors Inc. grew its position in Couchbase by 33.7% in the second quarter. Dana Investment Advisors Inc. now owns 74,869 shares of the company’s stock valued at $1,367,000 after acquiring an additional 18,889 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Couchbase by 5.7% during the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after acquiring an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Couchbase by 9.9% in the second 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 last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Couchbase in the 2nd quarter valued at approximately $300,000. Institutional investors own 96.07% of the company’s stock.

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.