Couchbase, Inc. (NASDAQ:BASE) reported better-than-expected sales for its fourth quarter and issued upbeat sales guidance for the first quarter.
Couchbase posted GAAP loss of 44 cents per share, versus market estimates for a loss of 40 cents per share. The company’s quarterly sales came in at $50.100 million, beating market estimates of $46.658 million, according to data from Benzinga Pro.
“We finished fiscal 2024 on a strong note, highlighted by 25% ARR growth, and marking a historical year for Couchbase,” said Matt Cain, Chair, President and CEO of Couchbase. “In addition to delivering results that exceeded the high end of our guidance range on all metrics, we achieved an important milestone with Capella, which now represents 11% of our ARR and over 25% of our customer base. As we look ahead towards fiscal 2025, I’m confident that we have the differentiated platform and operational rigor to achieve our next phase of growth.”
Couchbase said it sees first-quarter revenue of $48.1 million to $48.9 million, versus estimates of $47.0 million.
Couchbase shares fell 3.8% to close at $26.90 on Tuesday.
These analysts made changes to their price targets on Couchbase after the company reported quarterly results.
- Wells Fargo raised the price target on Couchbase from $34 to $37. Wells Fargo analyst Andrew Nowinski maintained an Overweight rating.
- Guggenheim boosted the price target on Couchbase from $27 to $32. Guggenheim analyst Howard Ma maintained a Buy rating.
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