Wells Fargo & Company Lowers Couchbase (NASDAQ:BASE) Price Target to $30.00 (2024)

Posted by ABMN Staff on Jun 8th, 2024

Couchbase (NASDAQ:BASE – Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $37.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 66.94% from the company’s current price.

Several other brokerages also recently weighed in on BASE. Robert W. Baird reduced their price target on Couchbase from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday. DA Davidson raised their price target on Couchbase from $27.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley reduced their price target on shares of Couchbase from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday. UBS Group started coverage on Couchbase in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $31.00 target price for the company. Finally, Barclays lowered their price objective on Couchbase from $33.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Couchbase currently has a consensus rating of “Moderate Buy” and an average target price of $29.36.

View Our Latest Report on Couchbase

Couchbase Trading Down 2.4 %

Shares of BASE stock opened at $17.97 on Thursday. The company’s fifty day moving average price is $25.09 and its 200-day moving average price is $24.64. The stock has a market cap of $902.09 million, a PE ratio of -10.96 and a beta of 0.68. Couchbase has a 12 month low of $13.97 and a 12 month high of $32.00.

Couchbase (NASDAQ:BASE – Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Couchbase had a negative net margin of 41.66% and a negative return on equity of 54.01%. The business had revenue of $50.09 million for the quarter, compared to analyst estimates of $46.56 million. On average, sell-side analysts forecast that Couchbase will post -1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Gregory N. Henry sold 18,747 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.84, for a total transaction of $521,916.48. Following the transaction, the chief financial officer now owns 330,652 shares in the company, valued at $9,205,351.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Margaret Chow sold 1,066 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $27.50, for a total value of $29,315.00. Following the completion of the transaction, the senior vice president now owns 210,429 shares of the company’s stock, valued at $5,786,797.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory N. Henry sold 18,747 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.84, for a total value of $521,916.48. Following the sale, the chief financial officer now directly owns 330,652 shares in the company, valued at approximately $9,205,351.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,256 shares of company stock worth $2,268,200. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BASE. Andar Capital Management HK Ltd purchased a new position in Couchbase in the fourth quarter valued at about $1,216,000. Jump Financial LLC bought a new stake in shares of Couchbase in the 4th quarter valued at about $1,373,000. Federated Hermes Inc. grew its position in shares of Couchbase by 8,574.1% in the 4th quarter. Federated Hermes Inc. now owns 12,404 shares of the company’s stock worth $279,000 after buying an additional 12,261 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in shares of Couchbase by 40.6% during the 3rd quarter. Tudor Investment Corp Et Al now owns 141,261 shares of the company’s stock worth $2,424,000 after acquiring an additional 40,808 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Couchbase by 74.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,352 shares of the company’s stock valued at $2,855,000 after acquiring an additional 70,978 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Couchbase Company Profile

(Get Free Report)

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.

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