Couchbase, Inc. (NASDAQ:BASE) exceeded Q3 earnings expectations with an adjusted loss of 8 cents per share versus the estimated 18 cents and reported sales of $45.81 million against the expected $43.10 million. The company also provided a strong FY24 revenue outlook of $176.2 to $176.8 million, surpassing the $173.52 million estimate. Despite the positive results, Couchbase shares dropped 3.8% to $19.18. Following the earnings report, Morgan Stanley and RBC Capital raised their price targets on Couchbase to $21 and $26, respectively, with Morgan Stanley maintaining an Equal-Weight rating and RBC Capital maintaining an Outperform rating.