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Investing.com - Guggenheim downgraded Couchbase Inc (NASDAQ:BASE) from Buy to Neutral following the company’s second-quarter fiscal 2026 results and its pending acquisition by Haveli Investments. The database software company, currently valued at $1.35 billion, has demonstrated strong financial health with an impressive gross profit margin of 88% and maintains more cash than debt on its balance sheet.
The database software company reported quarterly results that exceeded consensus expectations across all metrics, according to Guggenheim’s analysis.
Couchbase did not host an earnings conference call to discuss the results and declined to provide financial guidance due to the pending acquisition.
Guggenheim described the downgrade as "an administrative matter" given the acquisition is nearing completion, with the transaction expected to close soon.
The firm removed its previous price target of $26 per share, which was close to Haveli Investments’ acquisition offer of $24.50 per share for Couchbase.
In other recent news, Couchbase Inc has announced its agreement to be acquired by Haveli Investments in an all-cash transaction valued at approximately $1.5 billion. Under the agreement terms, Couchbase stockholders will receive $24.50 per share. This acquisition deal has prompted several financial firms to adjust their ratings on Couchbase. Oppenheimer downgraded Couchbase from Outperform to Perform, citing limited upside potential after the acquisition announcement. Similarly, Baird downgraded the stock from Outperform to Neutral, while raising its price target to $25.00. William Blair also downgraded Couchbase from Outperform to Market Perform, noting the enterprise-value-to-sales multiple of 5.7 times its 2025 estimate. Rosenblatt Securities followed suit, downgrading the stock from Buy to Neutral and adjusting its price target to $24.50. Upon completion of the transaction, Couchbase will transition to a privately-held company.
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