Morgan Stanley Cuts Couchbase (NASDAQ:BASE) Price Target to $25.00

Couchbase (NASDAQ:BASE) had its target price reduced by Morgan Stanley from $27.00 to $25.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts have also commented on BASE. Piper Sandler reaffirmed an “overweight” rating and set a $21.00 price target on shares of Couchbase in a research report on Wednesday. Oppenheimer reduced their target price on Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Piper Sandler Companies started coverage on Couchbase in a report on Friday, August 16th. They set an “overweight” rating and a $22.00 price target for the company. UBS Group reduced their price objective on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Wells Fargo & Company lowered their target price on shares of Couchbase from $30.00 to $23.00 and set an “overweight” 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 given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Stock Down 0.5 %

Shares of BASE opened at $16.38 on Wednesday. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The stock has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $18.18. The company has a market capitalization of $840.69 million, a PE ratio of -10.29 and a beta of 0.71.

Couchbase (NASDAQ:BASE) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.11 million. Couchbase had a negative net margin of 39.31% and a negative return on equity of 57.01%. Couchbase’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business earned ($0.44) earnings per share. As a group, equities analysts anticipate that Couchbase will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Couchbase

In other Couchbase news, SVP Huw Owen sold 6,736 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 373,647 shares in the company, valued at $5,630,860.29. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward T. Anderson acquired 21,080 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $14.16 per share, for a total transaction of $298,492.80. Following the completion of the transaction, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. The trade was a 32.52 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 10,548 shares of company stock valued at $163,390. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Couchbase

Several institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Couchbase in the second quarter valued at $47,000. Point72 Hong Kong Ltd purchased a new position in shares of Couchbase in the 2nd quarter valued at about $67,000. Harbor Capital Advisors Inc. raised its position in shares of Couchbase by 23.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,012 shares of the company’s stock worth $110,000 after acquiring an additional 1,125 shares in the last quarter. Arizona State Retirement System lifted its stake in Couchbase by 28.5% during the second 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 last quarter. Finally, Point72 Asset Management L.P. boosted 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 in the last quarter. 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.