Robert W. Baird Reaffirms “Neutral” Rating for Couchbase (NASDAQ:BASE)

Robert W. Baird reissued their neutral rating on shares of Couchbase (NASDAQ:BASE) in a research report report published on Monday morning, MarketBeat.com reports. Robert W. Baird currently has a $25.00 price target on the stock, up from their prior price target of $22.00.

Several other brokerages also recently weighed in on BASE. The Goldman Sachs Group lowered their target price on Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Rosenblatt Securities downgraded Couchbase from a “strong-buy” rating to a “hold” rating and lifted their price target for the stock from $22.00 to $24.50 in a research note on Friday, June 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Couchbase in a research note on Wednesday, June 4th. Guggenheim decreased their price target on Couchbase from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company downgraded Couchbase from a “strong-buy” rating to a “hold” rating and lifted their price target for the stock from $20.00 to $24.50 in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.09.

Couchbase Price Performance

Shares of Couchbase stock opened at $24.12 on Monday. The business has a 50-day moving average of $18.52 and a 200-day moving average of $16.97. The company has a market capitalization of $1.30 billion, a PE ratio of -17.61 and a beta of 0.82. Couchbase has a 1-year low of $12.78 and a 1-year high of $25.16.

Couchbase (NASDAQ:BASE) last announced its earnings results on Tuesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $56.52 million during the quarter, compared to the consensus estimate of $55.59 million. Couchbase had a negative return on equity of 55.25% and a negative net margin of 33.23%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned ($0.10) earnings per share. On average, equities analysts expect that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Couchbase

In other news, CFO William Robert Carey sold 1,321 shares of Couchbase stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $25.00, for a total transaction of $33,025.00. Following the sale, the chief financial officer now owns 92,443 shares of the company’s stock, valued at approximately $2,311,075. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Huw Owen sold 15,938 shares of Couchbase stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $15.43, for a total value of $245,923.34. Following the sale, the senior vice president now directly owns 427,699 shares in the company, valued at approximately $6,599,395.57. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,708 shares of company stock worth $2,463,649 over the last ninety days. Company insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Couchbase

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Couchbase during the fourth quarter valued at approximately $35,000. AlphaQuest LLC raised its holdings in shares of 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 during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Couchbase by 22.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the company’s stock valued at $65,000 after buying an additional 759 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Couchbase by 24.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,161 shares of the company’s stock valued at $65,000 after buying an additional 807 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Couchbase by 272.9% during the first quarter. CWM LLC now owns 4,191 shares of the company’s stock valued at $66,000 after buying an additional 3,067 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

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.