These Analysts Cut Their Forecasts On Couchbase After Q1 Results

Couchbase, Inc. BASE reported better-than-expected first-quarter financial results and issued guidance on Wednesday.

Couchbase reported quarterly losses of 10 cents per share which beat the analyst consensus estimate for a loss of 15 cents per share. The company reported quarterly sales of $51.33 million which beat the analyst consensus estimate of $48.56 million, according to data from Benzinga Pro.

“We grew ARR by 21% year-over-year, continued to increase our Capella mix, and made meaningful progress in our efforts to improve our operational rigor and efficiency,” said Matt Cain, Chair, President and CEO of Couchbase. “I’m particularly pleased that we delivered revenue and operating loss results that exceeded our outlook and delivered our first quarter of free cash flow positivity. I remain confident in our strategy and ability to achieve our objectives in fiscal 2025.”

Couchbase said it sees second-quarter revenue of $50.6 million to $51.4 million versus market estimates of $50.71 million. The company said it expects FY25 revenue of $204.5 million to $208.5 million versus expectations of $206 million.

Couchbase shares fell 12.2% to trade at $18.91 on Thursday.

These analysts made changes to their price targets on Couchbase after the company reported quarterly results.

• RBC Capital cut the price target on Couchbase from $35 to $31. RBC Capital analyst Matthew Hedberg maintained an Outperform rating.
• Baird slashed Couchbase price target from $35 to $32. Baird analyst Rob Oliver maintained an Outperform rating on the stock.
• Goldman Sachs cut the price target on Couchbase from $30 to $18. Goldman Sachs analyst Kash Rangan downgraded the stock from Neutral to Sell.
• Morgan Stanley slashed the price target on Couchbase from $30 to $29. Morgan Stanley analyst Sanjit Singh maintained an Equal-Weight rating.
• Oppenheimer cut the price target on Couchbase from $36 to $30. Oppenheimer analyst Ittai Kidron maintained an Outperform rating.

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