Couchbase slides on dismal 2023 revenue forecast

Couchbase

10/03/2022 16:39

** Shares of database software co  BASE.O  fall as much as
20% to an all-time low of $14.87 after co forecast full-year
revenue below estimates on Wednesday after markets close
    ** Stock last down ~17%, on course for worst day since
September 2021
    ** Multiple brokerages cut PTs on the BASE stock
    ** Co expects 2023 total revenue between $146.5 mln and
$147.5 mln vs Street estimates of $151.5 mln, as per Refinitiv
IBES data  urn:newsml:reuters.com:*:nPn5tk1cja
    ** However, co beat Q4 revenue estimates and posted a
smaller-than-expected loss per share  urn:newsml:reuters.com:*:nASA033UV
    ** Brokerage Barclays cuts PT to $26 from $30, RBC Capital
Markets lowers to $27 from $29 and Baird cuts to $35 from $50 
    ** Stifel lowers PT to $25 from $41 and Oppenheimer cuts to
$36 from $44
    ** Six of eight brokerages rate the stock "buy" or higher
and two "hold"; with a median PT of $27
    ** Stock has fallen ~36% from the its July IPO price 

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))