Couchbase (NASDAQ:BASE) Price Target Cut to $22.00 by Analysts at Oppenheimer

Couchbase (NASDAQ:BASEGet Rating) had its price target cut by equities researchers at Oppenheimer from $25.00 to $22.00 in a research report issued on Thursday, The Fly reports. Oppenheimer’s price objective suggests a potential upside of 55.48% from the stock’s current price.

Other research analysts have also issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of Couchbase from $41.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 10th. Morgan Stanley decreased their price objective on shares of Couchbase from $22.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. The Goldman Sachs Group reduced their price target on shares of Couchbase from $37.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, April 14th. Zacks Investment Research upgraded shares of Couchbase from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Royal Bank of Canada reduced their price target on shares of Couchbase from $27.00 to $25.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $24.75.

BASE opened at $14.15 on Thursday. The company has a fifty day simple moving average of $15.72 and a 200 day simple moving average of $19.99. Couchbase has a twelve month low of $11.68 and a twelve month high of $52.26.

Couchbase (NASDAQ:BASEGet Rating) last released its quarterly earnings results on Wednesday, June 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. The firm had revenue of $34.90 million for the quarter, compared to analyst estimates of $32.62 million. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts forecast that Couchbase will post -1.64 earnings per share for the current year.

A number of large investors have recently modified their holdings of BASE. BlackRock Inc. bought a new stake in Couchbase in the 3rd quarter valued at about $18,290,000. Citigroup Inc. bought a new stake in Couchbase in the 3rd quarter valued at about $49,000. Geode Capital Management LLC bought a new stake in Couchbase in the 3rd quarter valued at about $5,055,000. Franklin Resources Inc. bought a new stake in Couchbase in the 3rd quarter valued at about $21,768,000. Finally, Penserra Capital Management LLC bought a new stake in Couchbase in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 62.93% of the company’s stock.

About Couchbase (Get Rating)

Couchbase, Inc provides a database for enterprise applications worldwide. 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 Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++, that allows for a various array of data manipulation functions; and Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments.

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