Wells Fargo & Company Cuts Couchbase (NASDAQ:BASE) Price Target to $20.00

Couchbase (NASDAQ:BASE) had its target price decreased by Wells Fargo & Company from $23.00 to $20.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts also recently commented on the company. Guggenheim restated a “buy” rating and set a $30.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Couchbase in a report on Wednesday. Truist Financial initiated coverage on Couchbase in a report on Thursday, December 12th. They set a “buy” rating and a $21.00 price objective on the stock. DA Davidson restated a “buy” rating and set a $25.00 price objective on shares of Couchbase in a report on Wednesday, December 4th. Finally, Barclays cut their price target on Couchbase from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.19.

Couchbase Stock Performance

Shares of BASE stock opened at $17.65 on Wednesday. Couchbase has a 52-week low of $13.53 and a 52-week high of $32.00. The firm has a market capitalization of $923.94 million, a P/E ratio of -11.03 and a beta of 0.81. The stock has a 50 day moving average price of $17.05 and a 200 day moving average price of $17.04.

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

Insider Buying and Selling

In related news, CFO Gregory N. Henry sold 3,853 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.14, for a total transaction of $58,334.42. Following the transaction, the chief financial officer now directly owns 336,679 shares in the company, valued at $5,097,320.06. The trade was a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Huw Owen sold 2,993 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.02, for a total value of $47,947.86. Following the transaction, the senior vice president now owns 325,993 shares in the company, valued at approximately $5,222,407.86. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,883 shares of company stock worth $950,915 in the last ninety days. 16.10% of the stock is owned by insiders.

Institutional Trading of Couchbase

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Couchbase by 242.9% during the 3rd quarter. Barclays PLC now owns 75,602 shares of the company’s stock worth $1,218,000 after acquiring an additional 53,555 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Couchbase by 33.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 369,190 shares of the company’s stock worth $5,951,000 after acquiring an additional 93,301 shares during the period. JPMorgan Chase & Co. lifted its position in Couchbase by 169.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 192,216 shares of the company’s stock worth $3,099,000 after acquiring an additional 120,975 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Couchbase during the 3rd quarter worth about $772,000. Finally, 272 Capital LP acquired a new stake in Couchbase during the 3rd quarter worth about $3,720,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.