Database as a service company Couchbase (NASDAQ: BASE) will be reporting results tomorrow after the bell. Here’s what to expect.
Couchbase beat analysts’ revenue expectations by 3.1% last quarter, reporting revenues of $54.92 million, up 9.6% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ billings estimates but full-year guidance of slowing revenue growth.
Is Couchbase a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Couchbase’s revenue to grow 8.2% year on year to $55.56 million, slowing from the 25.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Couchbase has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Couchbase’s peers in the data storage segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Commvault Systems delivered year-on-year revenue growth of 23.2%, beating analysts’ expectations by 4.8%, and Snowflake reported revenues up 25.7%, topping estimates by 3.4%. Commvault Systems’s stock price was unchanged after the resultswhile Snowflake was up 13.5%.
Read our full analysis of Commvault Systems’s results here and Snowflake’s results here.
There has been positive sentiment among investors in the data storage segment, with share prices up 7.6% on average over the last month. Couchbase’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $20.81 (compared to the current share price of $17.61).
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