Needham & Company LLC Begins Coverage on Couchbase (NASDAQ:BASE)

Needham & Company LLC began coverage on shares of Couchbase (NASDAQ:BASE) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $22.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. DA Davidson lowered their price target on shares of Couchbase from $35.00 to $30.00 and set a buy rating on the stock in a research report on Friday, June 7th. Wells Fargo & Company reduced their price objective on Couchbase from $37.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, June 6th. Morgan Stanley lowered their price objective on Couchbase from $30.00 to $29.00 and set an equal weight rating on the stock in a research note on Thursday, June 6th. Stifel Nicolaus raised their target price on Couchbase from $24.00 to $33.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, Guggenheim reissued a buy rating and set a $30.00 price target on shares of Couchbase in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $28.58.

Couchbase Stock Down 2.5 %

BASE opened at $18.26 on Wednesday. Couchbase has a 52-week low of $13.97 and a 52-week high of $32.00. The firm’s fifty day simple moving average is $22.65 and its two-hundred day simple moving average is $24.44. The company has a market cap of $918.66 million, a price-to-earnings ratio of -11.13 and a beta of 0.68.

Couchbase (NASDAQ:BASE) last released its earnings results on Wednesday, June 5th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.03). Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.49%. The firm had revenue of $51.33 million during the quarter, compared to analysts’ expectations of $48.52 million. On average, research analysts forecast that Couchbase will post -1.45 EPS for the current year.

Insider Buying and Selling

In other news, SVP Margaret Chow sold 3,934 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.53, for a total transaction of $108,303.02. Following the sale, the senior vice president now owns 210,429 shares of the company’s stock, valued at $5,793,110.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Margaret Chow sold 3,934 shares of Couchbase stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.53, for a total value 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 $5,793,110.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew M. Cain sold 10,053 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $24.15, for a total value of $242,779.95. Following the sale, the chief executive officer now owns 883,458 shares in the company, valued at approximately $21,335,510.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,848 shares of company stock valued at $1,547,562. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Couchbase during the first quarter worth $26,000. AJOVista LLC acquired a new position in shares of Couchbase in the 4th quarter valued at $74,000. Daiwa Securities Group Inc. purchased a new stake in Couchbase in the 4th quarter valued at $92,000. StepStone Group LP acquired a new stake in Couchbase during the 4th quarter worth $133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Couchbase by 21.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,698 shares of the company’s stock worth $151,000 after purchasing an additional 1,203 shares during the last quarter. Institutional investors and hedge funds 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.