Couchbase price target lowered to $19 from $24 at UBS

UBS analyst Austin Dietz lowered the firm’s price target on Couchbase to $19 from $24 and keeps a Neutral rating on the shares. Couchbase posted a better but still mixed Q2 print, and the company has created a more back-end loaded setup to hit the implied Q4/FY25 annual recurring revenue guidance, the analyst tells investors in a research note. While slightly better customer net adds is encouraging, UBS is staying patient on the stock given this setup.