Robert W. Baird Forecasts Strong Price Appreciation for Couchbase (NASDAQ:BASE) Stock

Couchbase (NASDAQ:BASE) had its price target raised by equities research analysts at Robert W. Baird from $20.00 to $22.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 18.53% from the company’s current price.

A number of other brokerages have also issued reports on BASE. Morgan Stanley cut their price target on shares of Couchbase from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada cut their price objective on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on shares of Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Couchbase in a report on Monday. Finally, Piper Sandler lifted their price target on shares of Couchbase from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Couchbase has a consensus rating of “Moderate Buy” and an average target price of $21.47.

Couchbase Stock Performance

Shares of BASE opened at $18.56 on Wednesday. The company has a 50 day moving average price of $16.75 and a 200-day moving average price of $16.85. Couchbase has a fifty-two week low of $12.78 and a fifty-two week high of $21.99. The stock has a market capitalization of $1.00 billion, a PE ratio of -11.60 and a beta of 0.83.

Couchbase (NASDAQ:BASE) last posted its earnings results on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $55.59 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Couchbase’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Couchbase will post -1.48 EPS for the current year.

Insider Transactions at Couchbase

In other Couchbase news, SVP Huw Owen sold 15,938 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $15.43, for a total value of $245,923.34. Following the transaction, the senior vice president now directly owns 427,699 shares in the company, valued at approximately $6,599,395.57. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Couchbase during the 4th quarter worth about $35,000. AlphaQuest LLC grew its position in shares of Couchbase by 20.5% during the first quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock worth $57,000 after buying an additional 617 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock worth $65,000 after purchasing an additional 759 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after purchasing an additional 807 shares during the last quarter. Finally, CWM LLC lifted its stake in Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company’s stock worth $66,000 after purchasing an additional 3,067 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

About Couchbase

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.