Wedbush upgrades Couchbase on ‘game changer’ Capella pivot

Wedbush analyst Daniel Ives upgraded Couchbase to Outperform from Neutral with an unchanged price target of $26 after assuming coverage following a change in analysts. The company has pivoted its business towards Capella both from a product and go-to market perspective with most of the product investments now being focused towards the cloud offering, the analyst tells investors in a research note. The firm clews Capella as a “game changer” for Couchbase with easy adoption or deployment compared to alternative customer managed offerings. It believes Couchbase will see strength across net new logos while the launch of its new products will re-accelerate its growth over the coming quarters.