Couchbase price target raised to $35 from $32 at RBC Capital

RBC Capital raised the firm’s price target on Couchbase to $35 from $32 and keeps an Outperform rating on the shares. The company’s Q4 results were “strong”, highlighted by its annual recurring revenue, or ARR, growth rate of 25% and shrinking losses as consumption trends improved, the analyst tells investors in a research note. Couchbase results continued to be driven by Capella, which reached 11% of ARR and should continue to grow in the mix, the firm added.