Financial News
Couchbase (BASE) To Report Earnings Tomorrow: Here Is What To Expect
Database as a service company Couchbase (NASDAQ: BASE) will be reporting results tomorrow after market hours. Here’s what to expect.
Couchbase beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $51.59 million, up 19.6% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ billings estimates.
Is Couchbase a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Couchbase’s revenue to grow 10.8% year on year to $50.77 million, slowing from the 18.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Couchbase has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 5.2% on average.
Looking at Couchbase’s peers in the data storage segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Commvault Systems delivered year-on-year revenue growth of 16.1%, beating analysts’ expectations by 5.6%, and Snowflake reported revenues up 28.3%, topping estimates by 4.9%. Commvault Systems traded up 18.4% following the results while Snowflake was also up 32.7%.
Read our full analysis of Commvault Systems’s results here and Snowflake’s results here.
There has been positive sentiment among investors in the data storage segment, with share prices up 17% on average over the last month. Couchbase is up 37.2% during the same time and is heading into earnings with an average analyst price target of $23.43 (compared to the current share price of $21.86).
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