Royal Bank of Canada Lowers Couchbase (NASDAQ:BASE) Price Target to $31.00

Couchbase (NASDAQ:BASEFree Report) had its target price reduced by Royal Bank of Canada from $35.00 to $31.00 in a research report sent to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. UBS Group started coverage on Couchbase in a report on Wednesday, May 22nd. They set a neutral rating and a $31.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Couchbase from $24.00 to $33.00 and gave the company a buy rating in a research report on Wednesday, March 6th. The Goldman Sachs Group downgraded Couchbase from a neutral rating to a sell rating and decreased their target price for the stock from $30.00 to $18.00 in a research report on Thursday. Oppenheimer upped their price target on Couchbase from $25.00 to $36.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Finally, DA Davidson lifted their price objective on Couchbase from $27.00 to $35.00 and gave the stock a buy rating in a report 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 company’s stock. According to data from MarketBeat, Couchbase presently has an average rating of Moderate Buy and an average price target of $29.82.

Check Out Our Latest Stock Report on Couchbase

Couchbase Price Performance

BASE stock opened at $18.41 on Thursday. The stock has a market capitalization of $924.18 million, a price-to-earnings ratio of -10.83 and a beta of 0.68. The company has a 50-day moving average of $25.09 and a two-hundred day moving average of $24.64. Couchbase has a 52-week low of $13.97 and a 52-week high of $32.00.

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

Insiders Place Their Bets

In other news, SVP Margaret Chow sold 1,066 shares of Couchbase stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $27.50, for a total value of $29,315.00. Following the completion of the transaction, the senior vice president now owns 210,429 shares in the company, valued at $5,786,797.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Couchbase news, CAO William Robert Carey sold 4,431 shares of the business’s stock in a transaction dated 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 directly owns 48,097 shares of the company’s stock, valued at $1,341,906.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Margaret Chow sold 1,066 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $27.50, for a total transaction of $29,315.00. Following the sale, the senior vice president now directly owns 210,429 shares in the company, valued at $5,786,797.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,256 shares of company stock valued at $2,268,200. 16.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BASE. Washington Harbour Partners LP boosted its position in Couchbase by 13.9% in the 1st quarter. Washington Harbour Partners LP now owns 82,000 shares of the company’s stock valued at $2,157,000 after buying an additional 10,000 shares during the last quarter. Comerica Bank acquired a new position in shares of Couchbase during the first quarter valued at $2,077,000. Jacobs Levy Equity Management Inc. boosted its holdings in Couchbase by 21.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 190,103 shares of the company’s stock valued at $5,002,000 after acquiring an additional 33,754 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Couchbase in the first quarter worth about $466,000. Finally, Hood River Capital Management LLC raised its holdings in Couchbase by 4.9% during the 1st quarter. Hood River Capital Management LLC now owns 1,511,521 shares of the company’s stock worth $39,768,000 after purchasing an additional 70,766 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

About Couchbase

(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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