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

Couchbase, Inc. (NASDAQ:BASE) shares gapped down before the market opened on Tuesday . The stock had previously closed at $20.64, but opened at $20.02. Couchbase shares last traded at $20.02, with a volume of 236 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DA Davidson reduced their price target on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies assumed coverage on shares of Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 price target on the stock. Wedbush assumed coverage on shares of Couchbase in a research report on Thursday, October 17th. They set an “outperform” rating and a $26.00 price target on the stock. Morgan Stanley reduced their price target on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Finally, Piper Sandler reduced their price target on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Couchbase Trading Up 0.0 %

The company has a market capitalization of $1.06 billion, a PE ratio of -12.98 and a beta of 0.59. The company’s 50 day moving average price is $16.72 and its 200-day moving average price is $18.45.

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 54.84% and a negative net margin of 39.51%. 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. As a group, analysts predict that Couchbase, Inc. will post -1.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Huw Owen sold 6,736 shares of the business’s 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 approximately $5,630,860.29. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward T. Anderson acquired 21,080 shares of Couchbase stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $14.16 per share, with a total value of $298,492.80. Following the completion of the transaction, the director now owns 85,902 shares of the company’s stock, valued at approximately $1,216,372.32. This trade represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 11,448 shares of company stock worth $180,742 over the last quarter. 16.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its position in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock worth $237,000 after purchasing an additional 700 shares during the period. Harbor Capital Advisors Inc. lifted its position in Couchbase by 15.9% in the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after purchasing an additional 956 shares during the period. The Manufacturers Life Insurance Company lifted its position in 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 purchasing an additional 1,865 shares during the period. Arizona State Retirement System lifted its position in Couchbase by 28.5% in the second quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after purchasing an additional 2,445 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Couchbase in the second quarter valued at $47,000. 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.