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

Couchbase (NASDAQ:BASE – Get Rating) released its earnings results on Wednesday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07, Briefing.com reports. The company had revenue of $34.90 million during the quarter, compared to analyst estimates of $32.62 million. Couchbase had a negative return on equity of 32.92% and a negative net margin of 48.65%. The company’s revenue 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.

BASE traded up $0.01 during midday trading on Friday, reaching $16.00. 3,606 shares of the company’s stock were exchanged, compared to its average volume of 290,350. The firm has a market capitalization of $712.48 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 business has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $19.87.

A number of institutional investors and hedge funds have recently made changes to their positions in BASE. Morgan Stanley bought a new position in Couchbase during the third quarter worth about $1,693,000. Royal Bank of Canada acquired a new stake in shares of Couchbase during the third quarter worth approximately $682,000. California State Teachers Retirement System acquired a new stake in shares of Couchbase during the third quarter worth approximately $163,000. Citadel Advisors LLC acquired a new stake in shares of Couchbase during the third quarter worth approximately $1,374,000. Finally, Millennium Management LLC acquired a new stake in shares of Couchbase during the third quarter worth approximately $1,149,000. Hedge funds and other institutional investors own 62.93% of the company’s stock.

BASE has been the subject of a number of research analyst reports. Oppenheimer reduced their target price on Couchbase from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday. Zacks Investment Research raised shares of Couchbase from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Stifel Nicolaus lowered their target price on shares of Couchbase from $25.00 to $20.00 in a research report on Thursday. Barclays lowered their target price on shares of Couchbase from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Finally, Royal Bank of Canada lowered their target price on shares of Couchbase from $27.00 to $25.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $22.63.

About Couchbase (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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