Shares of Couchbase, Inc. (BASE) plummeted 11.53% in pre-market trading on Wednesday, following a report from Goldman Sachs analyst Kash Rangan, who reiterated a 'Sell' rating on the company's stock.
Rangan cited concerns over revenue growth deceleration and customer churn at Couchbase. The analyst's report highlighted that the company's growth has been slowing down, and there are indications of increasing customer attrition, which could further impact its financial performance.
The analyst's negative outlook has weighed heavily on investor sentiment, leading to the sharp sell-off in Couchbase's shares. The company's ability to address these concerns and regain investor confidence will likely determine the stock's future trajectory.
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