The Goldman Sachs Group Cuts Couchbase (NASDAQ:BASE) Price Target to $25.00

Posted by on Jun 9th, 2022

Couchbase (NASDAQ:BASE – Get Rating) had its price objective decreased by stock analysts at The Goldman Sachs Group from $28.00 to $25.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 76.68% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays lowered their price target on Couchbase from $26.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, May 20th. William Blair reiterated an “outperform” rating on shares of Couchbase in a report on Thursday, March 10th. Royal Bank of Canada lowered their target price on Couchbase from $27.00 to $25.00 in a report on Monday. Oppenheimer lowered their target price on Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Zacks Investment Research upgraded Couchbase from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Couchbase currently has a consensus rating of “Buy” and a consensus price target of $23.75.

Shares of NASDAQ:BASE opened at $14.15 on Thursday. The business has a fifty day moving average of $15.72 and a two-hundred day moving average of $19.99. Couchbase has a 52-week low of $11.68 and a 52-week high of $52.26.

Couchbase (NASDAQ:BASE – Get Rating) last released its quarterly earnings results on Wednesday, June 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $32.62 million. The company’s revenue was up 24.6% on a year-over-year basis. As a group, equities analysts expect that Couchbase will post -1.64 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. West Rim Capital Associates II L.P. acquired a new stake in shares of Couchbase during the 4th quarter worth about $85,017,000. Vanguard Group Inc. increased its position in Couchbase by 170.4% during the first quarter. Vanguard Group Inc. now owns 2,070,537 shares of the company’s stock worth $36,069,000 after buying an additional 1,304,895 shares during the period. Brown Advisory Inc. increased its position in Couchbase by 6.9% during the first quarter. Brown Advisory Inc. now owns 1,689,422 shares of the company’s stock worth $29,496,000 after buying an additional 109,600 shares during the period. First Trust Advisors LP increased its position in Couchbase by 25.3% during the first quarter. First Trust Advisors LP now owns 1,494,952 shares of the company’s stock worth $26,042,000 after buying an additional 302,069 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in Couchbase by 34.3% during the first quarter. Frontier Capital Management Co. LLC now owns 1,390,395 shares of the company’s stock worth $24,221,000 after buying an additional 355,145 shares during the period. 62.93% of the stock is currently owned by institutional investors.

Couchbase Company Profile (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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