Couchbase (NASDAQ:BASE) Downgraded to Sell at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Couchbase (NASDAQ:BASEFree Report) from a neutral rating to a sell rating in a report issued on Thursday morning, Marketbeat.com reports. They currently have $18.00 target price on the stock, down from their previous target price of $30.00.

Several other brokerages have also recently issued reports on BASE. Oppenheimer increased their target price on Couchbase from $25.00 to $36.00 and gave the company an outperform rating in a research report on Wednesday, March 6th. Wells Fargo & Company raised their price target on shares of Couchbase from $26.00 to $34.00 and gave the company an overweight rating in a report on Tuesday, March 5th. DA Davidson lifted their price objective on shares of Couchbase from $27.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Royal Bank of Canada increased their target price on shares of Couchbase from $32.00 to $35.00 and gave the company an outperform rating in a research report on Wednesday, March 6th. Finally, Guggenheim raised their target price on shares of Couchbase from $27.00 to $32.00 and gave the company a buy rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Couchbase presently has an average rating of Moderate Buy and an average target price of $29.82.

Get Our Latest Research Report on BASE

Couchbase Trading Down 14.5 %

Shares of BASE stock opened at $18.41 on Thursday. Couchbase has a twelve month low of $13.97 and a twelve month high of $32.00. The stock has a fifty day simple moving average of $25.09 and a two-hundred day simple moving average of $24.64. The stock has a market capitalization of $924.18 million, a price-to-earnings ratio of -10.83 and a beta of 0.68.

Couchbase (NASDAQ:BASEGet Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Couchbase had a negative net margin of 44.54% and a negative return on equity of 54.61%. The business had revenue of $50.09 million for the quarter, compared to the consensus estimate of $46.56 million. Research analysts predict that Couchbase will post -1.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew M. Cain sold 18,101 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.05, for a total transaction of $399,127.05. Following the completion of the transaction, the chief executive officer now owns 855,304 shares of the company’s stock, valued at $18,859,453.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Couchbase news, CAO William Robert Carey sold 4,431 shares of Couchbase stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.90, for a total value of $123,624.90. Following the completion of the transaction, the chief accounting officer now owns 48,097 shares of the company’s stock, valued at $1,341,906.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew M. Cain sold 18,101 shares of Couchbase stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.05, for a total transaction of $399,127.05. Following the completion of the transaction, the chief executive officer now directly owns 855,304 shares of the company’s stock, valued at approximately $18,859,453.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,256 shares of company stock valued at $2,268,200. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BASE. NBC Securities Inc. purchased a new position in Couchbase in the first quarter valued at $26,000. AJOVista LLC purchased a new position in Couchbase in the fourth quarter valued at $74,000. Daiwa Securities Group Inc. purchased a new position in Couchbase in the fourth quarter valued at $92,000. StepStone Group LP purchased a new position in Couchbase in the fourth quarter valued at $133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Couchbase by 21.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,698 shares of the company’s stock valued at $151,000 after purchasing an additional 1,203 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Couchbase (NASDAQ:BASE)

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