Couchbase (NASDAQ:BASE) Trading Up 4.6% – What’s Next?

Couchbase, Inc. (NASDAQ:BASE) shot up 4.6% during trading on Tuesday . The company traded as high as $19.47 and last traded at $19.41. 260,656 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 483,771 shares. The stock had previously closed at $18.55.

Wall Street Analysts Forecast Growth

BASE has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Couchbase from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Morgan Stanley dropped their price objective on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company reduced their price target on Couchbase from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. DA Davidson cut their price target on Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, UBS Group reduced their price objective on Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.13.

Couchbase Stock Performance

The stock’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $18.79. The firm has a market capitalization of $984.32 million, a P/E ratio of -12.06 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) EPS. On average, analysts anticipate that Couchbase, Inc. will post -1.51 earnings per share for the current year.

Insider Transactions at Couchbase

In related news, Director Edward T. Anderson purchased 21,080 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. This trade represents a 32.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,448 shares of company stock valued at $180,742. 16.10% of the stock is currently owned by company insiders.

Institutional Trading of Couchbase

Several hedge funds have recently bought and sold shares of BASE. Wasatch Advisors LP boosted its holdings in shares of Couchbase by 56.4% in the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock worth $15,964,000 after buying an additional 357,169 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Couchbase in the 1st quarter valued at $9,059,000. Vanguard Group Inc. grew its position in Couchbase by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after acquiring an additional 227,828 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Couchbase by 346.2% during the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after buying an additional 204,396 shares in the last quarter. Finally, EVR Research LP increased its stake in shares of Couchbase by 9.4% in the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock valued at $38,010,000 after buying an additional 179,585 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

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.