On October 7, 2024, Barclays analyst Raimo Lenschow upgraded Couchbase's stock rating from Equal-weight to Overweight. The analyst also assigned a price target of $19 for the company's shares.
This upgrade was primarily driven by the analyst's assessment of Couchbase's Capella offering. Capella, a modern database for enterprise applications, was highlighted as a key driver for the company's future performance.
The positive re-rating from Barclays indicates a more optimistic outlook on Couchbase's business trajectory and its ability to capitalize on its cloud-based database platform.
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