Database as a service company Couchbase (NASDAQ: BASE) will be reporting results tomorrow after the bell. Here's what investors should know.
Last quarter, Couchbase reported revenues of $41 million, up 17.6% year on year, beating analyst revenue expectations by 3.08%. However, it was a weaker quarter for the company, with revenue and operating loss guidance for the next quarter coming in below analysts' expectations.
Is Couchbase buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Couchbase's revenue to grow 4.83% year on year to $41.7 million, slowing down from the 34% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.22 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6.04%.
Looking at Couchbase's peers in the data storage segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. MongoDB (NASDAQ:MDB) delivered top-line growth of 39.6% year on year, beating analyst estimates by 8.42%, and Commvault Systems reported revenues up 0.09% year on year, exceeding estimates by 0.49%. MongoDB traded up 8.5% on the results, and Commvault Systems was down 2.5%.
Read the full analysis of MongoDB's and Commvault Systems's results on StockStory.
Investors in the data storage segment have had steady hands going into the earnings, with the stocks down on average 0.78% over the last month. Couchbase is up 7.88% during the same time, and is heading into the earnings with analysts' average price target of $21.1, compared to share price of $17.25.
One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.
The author has no position in any of the stocks mentioned.
