Couchbase (NASDAQ:BASE) Stock Price Up 4.6% – Time to Buy?

Couchbase, Inc. (NASDAQ:BASE) shares shot up 4.6% during trading on Tuesday . The company traded as high as $19.47 and last traded at $19.41. 260,656 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 483,771 shares. The stock had previously closed at $18.55.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Couchbase in a research note on Thursday, September 5th. Piper Sandler cut their price target on shares of Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, UBS Group lowered their price objective on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Couchbase Stock Performance

The business has a 50 day moving average price of $15.89 and a two-hundred day moving average price of $18.83. The stock has a market cap of $1.00 billion, a PE ratio of -12.31 and a beta of 0.59.

Couchbase (NASDAQ:BASE) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.11 million. During the same period in the previous year, the business earned ($0.44) EPS. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, research analysts anticipate that Couchbase, Inc. will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Couchbase

In other news, Director Edward T. Anderson purchased 21,080 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the purchase, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Couchbase news, SVP Huw Owen sold 6,736 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward T. Anderson bought 21,080 shares of Couchbase stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $14.16 per share, with a total value of $298,492.80. Following the purchase, the director now directly owns 85,902 shares in the company, valued at $1,216,372.32. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 11,448 shares of company stock valued at $180,742. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. grew its holdings in Couchbase by 5.7% in the second quarter. Point72 Asset Management L.P. now owns 13,000 shares of the company’s stock valued at $237,000 after purchasing an additional 700 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Couchbase by 15.9% during the third quarter. Harbor Capital Advisors Inc. now owns 6,968 shares of the company’s stock worth $112,000 after buying an additional 956 shares during the last quarter. Swiss National Bank grew its holdings in shares of Couchbase by 2.3% in the first quarter. Swiss National Bank now owns 61,700 shares of the company’s stock valued at $1,623,000 after purchasing an additional 1,400 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Couchbase by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,770 shares of the company’s stock worth $379,000 after buying an additional 1,865 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Couchbase by 28.5% during the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock worth $201,000 after purchasing an additional 2,445 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

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.