William Blair analyst Jason Ader has maintained their neutral stance on BASE stock, giving a Hold rating today.
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Jason Ader has given his Hold rating due to a combination of factors, including the current valuation of Couchbase’s stock and the competitive landscape it faces. The stock is trading at an enterprise value multiple that aligns with its sales estimates for 2026, which suggests it is fairly valued compared to its peers.
Additionally, there are several risks that contribute to the Hold rating. These include competition from cloud-native platforms and independent database vendors, which could impact Couchbase’s market position. Furthermore, challenges such as limited developer awareness and adoption, a developing cloud strategy, and the company’s lack of profitability also weigh on the decision to maintain a Hold rating.
In another report released today, UBS also maintained a Hold rating on the stock with a $24.50 price target.