Couchbase Analysts Boost Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Couchbase, Inc. (NASDAQ:BASE) exceeded Q4 sales expectations and provided positive Q1 sales guidance. Despite a GAAP loss of 44 cents per share, sales reached $50.1 million, surpassing estimates. The company anticipates Q1 revenue between $48.1 million and $48.9 million, above the expected $47.0 million. Following the report, Couchbase shares dropped by 3.8%. Analysts from Wells Fargo and Guggenheim raised their price targets for BASE, citing the company's strong performance and growth potential.
March 06, 2024 | 12:32 pm
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Couchbase reported strong Q4 results, surpassing sales estimates and providing positive Q1 guidance. Analysts raised price targets despite a share price drop.
Couchbase's better-than-expected Q4 results and optimistic Q1 guidance signal strong business performance and growth potential. Analysts' raised price targets reflect confidence in the company's future, potentially offsetting the short-term negative impact of the share price drop. The positive outlook and analyst endorsements are likely to bolster investor confidence and support a positive short-term price trajectory.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100