UBS Starts Couchbase Inc (BASE) at Neutral

UBS analyst Austin Dietz initiates coverage on Couchbase Inc (NASDAQ: BASE) with a Neutral rating and a price target of $31.00.

The analyst comments: "We’re launching coverage on NoSQL database firm Couchbase with a Neutral rating and $31 PT. While we like Couchbase Capella's potential to accelerate new logo growth and and support sustainable 20%+ ARR growth over the coming years, Capella's growth to date still appears to be primarily driven by existing installed base conversions. Net, we just didn’t pick up enough signs that Couchbase’s traction amongst developers is inflecting for us to make a more constructive call on the stock. We see a balanced risk/reward from here."

For an analyst ratings summary and ratings history on Couchbase Inc click here. For more ratings news on Couchbase Inc click here.

Shares of Couchbase Inc closed at $28.14 yesterday.

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