Couchbase (NASDAQ:BASE) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Couchbase (NASDAQ:BASEGet Rating) released its earnings results on Wednesday. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07, Briefing.com reports. Couchbase had a negative return on equity of 32.92% and a negative net margin of 48.65%. The business had revenue of $34.90 million for the quarter, compared to the consensus estimate of $32.62 million. Couchbase’s revenue for the quarter was up 24.6% compared to the same quarter last year. Couchbase updated its FY 2023 guidance to EPS and its Q2 2023 guidance to EPS.

Shares of NASDAQ:BASE traded down $0.04 during midday trading on Friday, reaching $15.96. 2,087 shares of the company’s stock traded hands, compared to its average volume of 290,350. The company has a market cap of $710.70 million and a price-to-earnings ratio of -5.56. Couchbase has a one year low of $11.68 and a one year high of $52.26. The stock has a 50 day moving average of $15.69 and a 200 day moving average of $19.87.

Several equities research analysts have commented on the company. William Blair reissued an “outperform” rating on shares of Couchbase in a report on Thursday, March 10th. Barclays dropped their target price on Couchbase from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. Morgan Stanley boosted their target price on Couchbase from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group dropped their target price on Couchbase from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lowered their price target on Couchbase from $25.00 to $20.00 in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Couchbase currently has an average rating of “Buy” and a consensus target price of $22.63.

Hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY purchased a new position in Couchbase in the first quarter worth about $30,000. Ameritas Investment Partners Inc. boosted its position in Couchbase by 145.6% in the first quarter. Ameritas Investment Partners Inc. now owns 1,822 shares of the company’s stock worth $32,000 after purchasing an additional 1,080 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in Couchbase in the first quarter worth about $70,000. UBS Group AG boosted its position in Couchbase by 71.3% in the first quarter. UBS Group AG now owns 4,664 shares of the company’s stock worth $81,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Couchbase by 354.2% in the fourth quarter. Legal & General Group Plc now owns 4,306 shares of the company’s stock worth $108,000 after purchasing an additional 3,358 shares during the last quarter. 62.93% of the stock is currently owned by institutional investors.

Couchbase Company Profile (Get Rating)

Couchbase, Inc provides a database for enterprise applications worldwide. 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 Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++, that allows for a various array of data manipulation functions; and Couchbase Capella, an automated and secure Database-as-a-Service that helps in database management by deploying, managing, and operating Couchbase Server across cloud environments.

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