Couchbase (NASDAQ:BASE) Shares Up 4.6% – Time to Buy?

Couchbase, Inc. (NASDAQ:BASE) was up 4.6% on Tuesday . The company traded as high as $19.47 and last traded at $19.41. Approximately 260,656 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 483,771 shares. The stock had previously closed at $18.55.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler Companies assumed coverage on shares of Couchbase in a research report on Friday, August 16th. They set an “overweight” rating and a $22.00 price target on the stock. Piper Sandler reduced their price target on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Robert W. Baird cut their target price on Couchbase from $32.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company cut their target price on Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Barclays raised shares of Couchbase from an “equal weight” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Couchbase has a consensus rating of “Moderate Buy” and a consensus price target of $23.13.

Couchbase Price Performance

The stock’s 50-day moving average is $15.98 and its 200 day moving average is $18.79. The stock has a market cap of $984.32 million, a price-to-earnings ratio of -12.06 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.11 million. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) earnings per share. Analysts anticipate that Couchbase, Inc. will post -1.51 EPS for the current year.

Insider Activity at Couchbase

In other news, SVP Huw Owen sold 6,736 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward T. Anderson purchased 21,080 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the acquisition, the director now directly owns 85,902 shares of the company’s stock, valued at $1,216,372.32. This represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 11,448 shares of company stock worth $180,742. 16.10% of the stock is currently owned by company insiders.

Institutional Trading of Couchbase

Several institutional investors have recently made changes to their positions in BASE. Acadian Asset Management LLC lifted its position in shares of Couchbase by 346.2% in the 1st quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after acquiring an additional 204,396 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Couchbase during the 1st quarter valued at $9,059,000. Vanguard Group Inc. grew its holdings in Couchbase by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after purchasing an additional 227,828 shares during the period. Sei Investments Co. raised its position in shares of Couchbase by 918.4% during the first quarter. Sei Investments Co. now owns 119,717 shares of the company’s stock worth $3,150,000 after purchasing an additional 107,962 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Couchbase by 21.6% in the 1st 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 in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Company Profile

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.