Couchbase (NASDAQ:BASE) Given New $16.00 Price Target at Piper Sandler

Couchbase (NASDAQ:BASE) had its price objective cut by Piper Sandler from $22.00 to $16.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on Couchbase from $18.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Guggenheim lowered their price target on Couchbase from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays reduced their price objective on Couchbase from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Couchbase in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.41.

Couchbase Stock Performance

BASE stock opened at $16.12 on Wednesday. The firm has a 50 day moving average price of $15.59 and a 200-day moving average price of $16.65. Couchbase has a 52-week low of $12.78 and a 52-week high of $28.67. The firm has a market capitalization of $856.08 million, a price-to-earnings ratio of -10.08 and a beta of 0.85.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.22). Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.22%. The company had revenue of $54.92 million for the quarter, compared to analysts’ expectations of $53.25 million. As a group, sell-side analysts forecast that Couchbase will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Margaret Chow sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $18.31, for a total transaction of $274,650.00. Following the completion of the sale, the senior vice president now owns 133,067 shares in the company, valued at approximately $2,436,456.77. This trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Huw Owen sold 15,938 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $15.43, for a total transaction of $245,923.34. Following the completion of the transaction, the senior vice president now directly owns 427,699 shares in the company, valued at $6,599,395.57. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,400 shares of company stock valued at $975,265. 16.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Couchbase

Several large investors have recently made changes to their positions in BASE. Harbor Capital Advisors Inc. grew its holdings in Couchbase by 33.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 8,972 shares of the company’s stock valued at $141,000 after buying an additional 2,240 shares in the last quarter. Congress Asset Management Co. purchased a new position in shares of Couchbase in the first quarter valued at $5,650,000. Mackenzie Financial Corp purchased a new position in shares of Couchbase in the fourth quarter valued at $382,000. Two Sigma Advisers LP raised its stake in Couchbase by 32.4% during the fourth quarter. Two Sigma Advisers LP now owns 47,800 shares of the company’s stock valued at $745,000 after purchasing an additional 11,700 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Couchbase by 36.7% during the fourth quarter. ProShare Advisors LLC now owns 14,828 shares of the company’s stock valued at $231,000 after purchasing an additional 3,979 shares in the last quarter. 96.07% of the stock is owned by 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.