Stifel analyst Brad Reback raised the firm’s price target on Couchbase to $33 from $24 and keeps a Buy rating on the shares after Q4 top-line results that beat expectations. The firm notes that FY25 revenue and ARR, or annual recurring revenue, guidance came just in-line with expectations, as management “remains conservative” in Capella consumption assumptions, but the firm believes the ongoing shift in database spend toward next-generation NoSQL technologies and Capella momentum should allow Couchbase to sustain roughly 20% ARR growth.
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