Couchbase price target raised to $25 from $24 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on Couchbase to $25 from $24 and keeps a Buy rating on the shares. The company reported “strong” Q3 results, with ARR growth exceeding the high end of guidance and growing by 23% from last year, which is consistent with the growth rate last year, the analyst tells investors in a research note. Capella logo count increased 25% from Q2 as Capella continues to become a larger percentage of “pretty much every metric”, the firm added.