Couchbase’s (BASE) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Couchbase (NASDAQ:BASE) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

BASE has been the subject of several other research reports. UBS Group started coverage on shares of Couchbase in a research report on Wednesday, May 22nd. They set a neutral rating and a $31.00 price target for the company. Wells Fargo & Company cut their price objective on Couchbase from $37.00 to $30.00 and set an overweight rating for the company in a research note on Thursday, June 6th. Oppenheimer cut their price objective on Couchbase from $36.00 to $30.00 and set an outperform rating for the company in a research note on Thursday, June 6th. Royal Bank of Canada cut their price objective on Couchbase from $35.00 to $31.00 and set an outperform rating for the company in a research note on Thursday, June 6th. Finally, The Goldman Sachs Group downgraded Couchbase from a neutral rating to a sell rating and cut their price objective for the company from $30.00 to $18.00 in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $28.58.

Couchbase Stock Up 6.4 %

NASDAQ BASE opened at $18.72 on Tuesday. Couchbase has a 52 week low of $13.97 and a 52 week high of $32.00. The firm has a market capitalization of $941.80 million, a P/E ratio of -11.41 and a beta of 0.68. The company has a 50-day moving average price of $22.74 and a 200-day moving average price of $24.45.

Insider Activity

In other news, SVP Margaret Chow sold 3,934 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $27.53, for a total transaction of $108,303.02. Following the completion of the transaction, the senior vice president now directly owns 210,429 shares in the company, valued at approximately $5,793,110.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Gregory N. Henry sold 3,982 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $16.52, for a total transaction of $65,782.64. Following the sale, the chief financial officer now owns 393,060 shares in the company, valued at approximately $6,493,351.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Margaret Chow sold 3,934 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.53, for a total value of $108,303.02. Following the sale, the senior vice president now owns 210,429 shares in the company, valued at approximately $5,793,110.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,848 shares of company stock worth $1,547,562. 16.10% of the stock is currently owned by insiders.

Institutional Trading of Couchbase

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Couchbase by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,029,423 shares of the company’s stock valued at $106,014,000 after buying an additional 227,828 shares during the period. Hood River Capital Management LLC raised its holdings in Couchbase by 4.9% during the 1st quarter. Hood River Capital Management LLC now owns 1,511,521 shares of the company’s stock valued at $39,768,000 after buying an additional 70,766 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Couchbase in the first quarter worth $9,059,000. Acadian Asset Management LLC increased its stake in Couchbase by 346.2% in the first quarter. Acadian Asset Management LLC now owns 263,439 shares of the company’s stock worth $6,928,000 after purchasing an additional 204,396 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Couchbase by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 250,472 shares of the company’s stock worth $5,641,000 after purchasing an additional 19,256 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

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.