Database as a service company Couchbase (NASDAQ: BASE) will be reporting earnings tomorrow after market close. Here's what to expect.
Last quarter Couchbase reported revenues of $38.6 million, up 25.1% year on year, beating analyst revenue expectations by 5.35%. It was a mixed quarter for the company, with a solid beat of analyst estimates but underwhelming revenue guidance for the next quarter.
Is Couchbase buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Couchbase's revenue to grow 9.04% year on year to $38.2 million, slowing down from the 19.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.34 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6.07%.
Looking at Couchbase's peers in the data storage segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Snowflake delivered top-line growth of 53.5% year on year, beating analyst estimates by 2.36% and DigitalOcean reported revenues up 36.2% year on year, exceeding estimates by 1.18%. Snowflake traded down 3.09% on the results, DigitalOcean was up 4.63%. Read our full analysis of Snowflake's results here and DigitalOcean's results here.
Investors in the software segment have had steady hands going into the earnings, with the stocks down on average 1.58% over the last month. Couchbase is up 1.61% during the same time, and is heading into the earnings with analyst price target of $18.4, compared to share price of $16.4.
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The author has no position in any of the stocks mentioned.