Wedbush Weighs in on Couchbase, Inc.’s Q1 2024 Earnings (NASDAQ:BASE)

Couchbase, Inc. (NASDAQ:BASEGet Rating) – Equities research analysts at Wedbush issued their Q1 2024 earnings estimates for shares of Couchbase in a report issued on Wednesday, March 8th. Wedbush analyst I. Koujalgi forecasts that the company will post earnings of ($0.46) per share for the quarter. Wedbush currently has a “Neutral” rating and a $16.00 target price on the stock. The consensus estimate for Couchbase’s current full-year earnings is ($1.47) per share. Wedbush also issued estimates for Couchbase’s Q2 2024 earnings at ($0.32) EPS, Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.32) EPS, FY2024 earnings at ($1.42) EPS, Q1 2025 earnings at ($0.34) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.30) EPS.

BASE has been the subject of a number of other reports. Guggenheim reissued a “buy” rating and set a $20.00 target price on shares of Couchbase in a research note on Wednesday, March 8th. Royal Bank of Canada boosted their target price on shares of Couchbase from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, March 8th. Barclays boosted their target price on shares of Couchbase from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Morgan Stanley boosted their target price on shares of Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 8th. Finally, Stifel Nicolaus boosted their price target on shares of Couchbase from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.40.

Couchbase Stock Down 7.5 %

Couchbase stock opened at $14.60 on Monday. The firm has a 50-day moving average price of $15.01 and a two-hundred day moving average price of $14.06. The firm has a market capitalization of $659.48 million, a price-to-earnings ratio of -9.54 and a beta of 0.63. Couchbase has a 52-week low of $10.19 and a 52-week high of $19.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY purchased a new position in Couchbase during the first quarter valued at approximately $30,000. Ameritas Investment Partners Inc. grew its position in Couchbase by 145.6% during the first quarter. Ameritas Investment Partners Inc. now owns 1,822 shares of the company’s stock valued at $32,000 after purchasing an additional 1,080 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Couchbase by 65.6% during the third quarter. Tower Research Capital LLC TRC now owns 4,831 shares of the company’s stock valued at $69,000 after purchasing an additional 1,913 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in Couchbase during the first quarter valued at approximately $70,000. Finally, UBS Group AG grew its position in Couchbase by 71.3% during the first quarter. UBS Group AG now owns 4,664 shares of the company’s stock valued at $81,000 after purchasing an additional 1,942 shares in the last quarter. 59.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Gregory N. Henry sold 10,411 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $15.09, for a total value of $157,101.99. Following the sale, the chief financial officer now directly owns 278,975 shares in the company, valued at approximately $4,209,732.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Gregory N. Henry sold 5,071 shares of Couchbase stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $15.03, for a total value of $76,217.13. Following the transaction, the chief financial officer now directly owns 289,386 shares of the company’s stock, valued at $4,349,471.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gregory N. Henry sold 10,411 shares of Couchbase stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $15.09, for a total transaction of $157,101.99. Following the completion of the transaction, the chief financial officer now directly owns 278,975 shares in the company, valued at $4,209,732.75. The disclosure for this sale can be found here. Insiders have sold 18,952 shares of company stock worth $284,253 in the last ninety days. 24.60% of the stock is currently owned by corporate insiders.

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.

Further Reading

Earnings History and Estimates for Couchbase (NASDAQ:BASE)

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