Couchbase rises on upbeat revenue forecast

Couchbase

09/06/2022 16:15

** Shares of Couchbase Inc  BASE.O  up 14.8% at $16.25 in
early trading
    ** BASE on Wednesday after market close forecast Q2 and
annual revenue above Wall Street estimates  urn:newsml:reuters.com:*:nPn1216D8a
    ** Co's Q1 sales also beat expectations, driven by a 21%
rise in subscription revenue
    ** Morgan Stanley, which raises PT to $18 from $17, views Q1
as the strongest set of results since co has gone public
    ** "We await more quantifiable signs that the company is
penetrating the cloud opportunity and for a clearer view on the
timing of operating profitability and reaching cashflow positive
status" - Morgan Stanley
    ** Avg. rating of 8 analysts is "buy"; median PT is $22 -
Refinitiv data
    ** Stock down ~35% YTD

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))