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Investing.com - Stifel downgraded Couchbase Inc (NASDAQ:BASE) from buy to hold on Monday, adjusting its price target to $24.50 from $22.00 following the company’s acquisition announcement.
On Friday, June 20, Couchbase announced it had signed a definitive agreement to be acquired by Haveli Investments in an all-cash transaction valued at $1.5 billion. The deal represents approximately 5.5 times Stifel’s calendar year 2026 enterprise value to revenue estimate of about $271 million.
Under the terms of the agreement, Couchbase shareholders will receive $24.50 per share, which represents a 29% premium to the company’s closing price on the last full trading day before the acquisition announcement.
Stifel noted that Haveli Investments first disclosed an approximately 8% ownership stake in Couchbase in March 2025, three months before the acquisition announcement.
The analyst’s price target revision to $24.50 aligns exactly with the per-share acquisition price offered by Haveli Investments in the all-cash deal.
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