Why Is Couchbase Stock Trading Down Today?

Couchbase, Inc. BASE shares are down Wednesday after the company issued second-quarter guidance below estimates.

What To Know: The company announced first-quarter financial results Tuesday after market hours. It reported a quarterly loss of 27 per share, beating the analyst consensus estimate of a loss of 32 cents. Quarterly sales were $41.00 million, beating the analyst consensus estimate of $39.67 million.

However, the company issued second-quarter revenue guidance of between $41.2 million and $41.8 million, below estimates of $43.31 million.

Matt Cain, Chair, President and CEO of Couchbase still found much to celebrate, saying, "We delivered a solid start to the fiscal year and are pleased that our results exceeded our guidance on all metrics. I am proud of the progress our team is making on our commitment to drive continued growth, increase Capella adoption, improve sales and marketing efficiency, and accelerate the pace of leverage in our model as we innovate for an exciting future."

On Wednesday, several analysts raised their price targets on the stock.

Related Link: What's Going On With Thor Industries Stock Today?

BASE Price Action: Shares of BASE were down 26.6% at $16.33 at the time of publication, according to Benzinga Pro.

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