Couchbase (NASDAQ:BASE) Shares Gap Down Following Analyst Downgrade

Couchbase, Inc. (NASDAQ:BASE)’s share price gapped down before the market opened on Wednesday after Morgan Stanley lowered their price target on the stock from $27.00 to $25.00. The stock had previously closed at $21.12, but opened at $18.17. Morgan Stanley currently has an equal weight rating on the stock. Couchbase shares last traded at $16.50, with a volume of 399,251 shares changing hands.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Couchbase in a report on Wednesday. DA Davidson reduced their price objective on shares of Couchbase from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Robert W. Baird cut their target price on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus increased their price target on Couchbase from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price objective on Couchbase from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Couchbase currently has an average rating of “Moderate Buy” and a consensus target price of $23.27.

Insider Activity

In other Couchbase news, Director Edward T. Anderson purchased 21,080 shares of Couchbase stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $14.16 per share, with a total value of $298,492.80. Following the transaction, the director now owns 85,902 shares in the company, valued at $1,216,372.32. This trade represents a 32.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the sale, the senior vice president now owns 373,647 shares of the company’s stock, valued at $5,630,860.29. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,548 shares of company stock worth $163,390 in the last three months. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Couchbase in the third quarter worth approximately $772,000. Horrell Capital Management Inc. grew its holdings in Couchbase by 64.3% during the third quarter. Horrell Capital Management Inc. now owns 230,000 shares of the company’s stock worth $3,708,000 after buying an additional 90,000 shares in the last quarter. 272 Capital LP bought a new position in Couchbase during the 3rd quarter valued at $1,566,000. Bank of New York Mellon Corp lifted its stake in Couchbase by 34.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,149 shares of the company’s stock valued at $2,997,000 after acquiring an additional 42,434 shares in the last quarter. Finally, EVR Research LP boosted its holdings in Couchbase by 9.4% during the 2nd quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after acquiring an additional 179,585 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Couchbase Stock Performance

The company’s 50 day moving average price is $17.37 and its 200-day moving average price is $18.25. The stock has a market cap of $846.78 million, a P/E ratio of -10.38 and a beta of 0.71.

Couchbase (NASDAQ:BASE) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative net margin of 39.51% and a negative return on equity of 54.84%. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.11 million. During the same period in the prior year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, analysts forecast that Couchbase, Inc. will post -1.51 earnings per share for the current fiscal 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.