Couchbase (NASDAQ:BASE) Sees Strong Trading Volume on Analyst Upgrade

Couchbase, Inc. (NASDAQ:BASE) shares saw unusually-strong trading volume on Monday after Barclays raised their price target on the stock from $22.00 to $24.50. Barclays currently has an overweight rating on the stock. Approximately 1,618,632 shares traded hands during mid-day trading, an increase of 149% from the previous session’s volume of 650,908 shares.The stock last traded at $24.48 and had previously closed at $24.49.

A number of other research firms also recently commented on BASE. DA Davidson downgraded Couchbase from a “strong-buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $24.50 in a report on Friday. Guggenheim decreased their price objective on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Couchbase in a report on Wednesday, June 4th. Morgan Stanley upped their price target on shares of Couchbase from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 4th. Finally, Robert W. Baird raised their price objective on shares of Couchbase from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Couchbase presently has a consensus rating of “Hold” and an average price target of $22.74.

Insider Activity

In other Couchbase news, Director Lynn M. Christensen sold 7,933 shares of Couchbase stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $20.01, for a total value of $158,739.33. Following the completion of the sale, the director now owns 11,987 shares in the company, valued at $239,859.87. The trade was a 39.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Huw Owen sold 15,938 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $15.43, for a total value of $245,923.34. Following the sale, the senior vice president now owns 427,699 shares of the company’s stock, valued at approximately $6,599,395.57. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,904 shares of company stock worth $622,343 over the last 90 days. 16.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Couchbase during the 4th quarter worth about $35,000. AlphaQuest LLC lifted its position in Couchbase by 20.5% during the first quarter. AlphaQuest LLC now owns 3,631 shares of the company’s stock valued at $57,000 after buying an additional 617 shares in the last quarter. Daiwa Securities Group Inc. grew 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 buying an additional 759 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Couchbase by 24.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock worth $65,000 after acquiring an additional 807 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Couchbase by 272.9% in the 1st quarter. CWM LLC now owns 4,191 shares of the company’s stock valued at $66,000 after acquiring an additional 3,067 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Couchbase Trading Down 0.1%

The firm has a market cap of $1.32 billion, a PE ratio of -17.86 and a beta of 0.82. The stock’s 50 day moving average price is $17.95 and its 200 day moving average price is $16.81.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The company had revenue of $56.52 million for the quarter, compared to analyst estimates of $55.59 million. During the same period last year, the company posted ($0.10) earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Couchbase, Inc. will post -1.48 earnings per share for the current year.

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.