Barclays sees ‘comeback’ for Couchbase, upgrades to Overweight

Barclays upgraded Couchbase to Overweight from Equal Weight with an unchanged price target of $19. The firm thinks the current share price level “represents an interesting entry point.” The company’s new cloud product, Capella, is making it easier for customers to adopt the solution, and there is evidence for this in increasing customer growth numbers, the analyst tells investors in a research note. The firm says that while two customer losses pushed shares down after the Q3 results, it sees a “comeback already” in Q4, when the first customer expansions are coming through.