Couchbase price target raised to $35 from $27 at DA Davidson

DA Davidson raised the firm’s price target on Couchbase to $35 from $27 and keeps a Buy rating on the shares. The company’s Q4 results were “strong” with accelerating annual recurring revenue, while its Capella business drove record net new logo additions in Q4, the analyst tells investors in a research note. The firm added that Couchbase management also called out examples of customers who are expanding rapidly on Capella.