Couchbase price target lowered to $18 from $19 at UBS

UBS lowered the firm’s price target on Couchbase (BASE) to $18 from $19 and keeps a Neutral rating on the shares. Couchbase closed out fiscal 2025 with a “much better” Q4 print that was marked by 16.5% annual recurring revenue growth, initial FY26 ARR guidance of 16.1% at the midpoint, and a weak FY26 revenue growth guide of just ~10%, a noticeable deceleration from 16% in FY25, the analyst tells investors in a research note. The Community Server-to-Capella migration opportunity did seem to inflect this quarter and while harder to quantify, the potential uplift is “intriguing,” UBS says.