Couchbase (NASDAQ:BASE) Shares Gap Up – Time to Buy?

Couchbase, Inc. (NASDAQ:BASE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $16.32, but opened at $17.10. Couchbase shares last traded at $16.94, with a volume of 55,744 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on BASE shares. Barclays raised Couchbase from an “equal weight” rating to an “overweight” rating and set a $19.00 price target for the company in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Couchbase in a research report on Thursday, September 5th. Stifel Nicolaus dropped their target price on Couchbase from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Robert W. Baird reduced their price target on Couchbase from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, UBS Group dropped their price objective on Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.13.

Couchbase Stock Up 1.8 %

The stock has a market capitalization of $874.39 million, a price-to-earnings ratio of -10.60 and a beta of 0.59. The business’s 50-day moving average is $16.38 and its two-hundred day moving average is $19.79.

Couchbase (NASDAQ:BASE) last issued its earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.11 million. During the same period in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, analysts forecast that Couchbase, Inc. will post -1.5 EPS for the current fiscal year.

Insider Transactions at Couchbase

In related news, SVP Huw Owen sold 6,736 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jeff Epstein sold 7,277 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $20.10, for a total transaction of $146,267.70. Following the completion of the transaction, the director now directly owns 28,027 shares in the company, valued at approximately $563,342.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $15.07, for a total transaction of $101,511.52. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders have sold a total of 29,056 shares of company stock worth $538,135 in the last quarter. Company insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Couchbase

A number of institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in Couchbase in the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Couchbase in the 2nd quarter valued at $47,000. Point72 Hong Kong Ltd purchased a new stake in shares of Couchbase in the 2nd quarter valued at $67,000. Harbor Capital Advisors Inc. boosted its holdings in Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock valued at $110,000 after acquiring an additional 1,125 shares during the period. Finally, Arizona State Retirement System grew its position in Couchbase by 28.5% in the 2nd quarter. Arizona State Retirement System now owns 11,032 shares of the company’s stock valued at $201,000 after acquiring an additional 2,445 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

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.