These Analysts Increase Their Forecasts On Couchbase After Upbeat Results

Couchbase, Inc. BASE reported upbeat results for its third quarter and issued strong revenue outlook for FY24.

Couchbase posted adjusted loss of 8 cents per share, compared to market estimates for a loss of 18 cents per share. The company’s quarterly sales came in at $45.81 million versus expectations of $43.10 million, according to Benzinga Pro.

The company said it sees FY24 revenue of $176.2 million to $176.8 million, versus estimates of $173.52 million.

Couchbase shares fell 3.8% to trade at $19.18 on Thursday.

These analysts made changes to their price targets on Couchbase following earnings announcement.

• Morgan Stanley raised the price target on Couchbase from $20 to $21. Morgan Stanley analyst Sanjit Singh maintained an Equal-Weight rating.
• RBC Capital increased the price target on Couchbase from $25 to $26. RBC Capital analyst Matthew Hedberg maintained an Outperform rating.

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