Couchbase price target raised by $2 at Oppenheimer, here’s why

Oppenheimer raised the firm’s price target on Couchbase to $25 from $23 and keeps an Outperform rating on the shares. The firm comes away from Couchbase’s inaugural Investor Day positive on growing adoption of its DBaaS platform, which is gaining mindshare and is expected to drive top-line growth back over 20%. The company also provided medium-term growth targets and expects to be free cash flow positive in FY26 and non-GAAP op. margin positive in FY27. Oppenheimer believes these targets are achievable and speak to Couchbase’s success with Capella and operating leverage.