Couchbase (NASDAQ:BASE) Shares Gap Up – Should You Buy?

Couchbase, Inc. (NASDAQ:BASE)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $16.07, but opened at $16.53. Couchbase shares last traded at $16.50, with a volume of 36,118 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BASE shares. Stifel Nicolaus lifted their price target on Couchbase from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wedbush assumed coverage on Couchbase in a research note on Thursday, October 17th. They issued an “outperform” rating and a $26.00 price target on the stock. Oppenheimer lowered their price objective on Couchbase from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Robert W. Baird reduced their target price on Couchbase from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, Guggenheim restated a “buy” rating and issued a $30.00 target price on shares of Couchbase in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Couchbase Trading Up 3.2 %

The company has a 50 day simple moving average of $17.62 and a 200 day simple moving average of $17.80. The stock has a market capitalization of $868.45 million, a PE ratio of -10.04 and a beta of 0.71.

Insider Buying and Selling at Couchbase

In other Couchbase news, Director Edward T. Anderson bought 21,080 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was acquired at an average cost of $14.16 per share, with a total value of $298,492.80. Following the purchase, the director now owns 85,902 shares in the company, valued at approximately $1,216,372.32. This represents a 32.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Huw Owen sold 6,736 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the transaction, the senior vice president now directly owns 373,647 shares of the company’s stock, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,548 shares of company stock valued at $163,390 in the last ninety days. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Couchbase

Hedge funds have recently bought and sold shares of the stock. Portolan Capital Management LLC grew its position in shares of Couchbase by 77.8% in the third quarter. Portolan Capital Management LLC now owns 874,795 shares of the company’s stock valued at $14,102,000 after purchasing an additional 382,851 shares during the period. Wasatch Advisors LP grew its position in Couchbase by 56.4% during the third quarter. Wasatch Advisors LP now owns 990,331 shares of the company’s stock valued at $15,964,000 after acquiring an additional 357,169 shares during the period. Franklin Resources Inc. grew its position in Couchbase by 27.3% during the third quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock valued at $27,379,000 after acquiring an additional 353,233 shares during the period. 272 Capital LP acquired a new position in shares of Couchbase in the third quarter worth about $3,720,000. Finally, EVR Research LP lifted its stake in shares of Couchbase by 9.4% in the second quarter. EVR Research LP now owns 2,081,585 shares of the company’s stock worth $38,010,000 after acquiring an additional 179,585 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Couchbase Company Profile

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.