01:21 PM EDT, 06/23/2025 (MT Newswires) -- (Updates with the analyst's commentary.)

RBC downgraded Couchbase ( BASE ) to sector perform rating from outperform and raised its price target to $24.50 from $22 after the company agreed to be acquired by Haveli Investments.

Couchbase ( BASE ) signed a definitive agreement to be acquired by the private equity firm for about $1.5 billion, representing a 29% premium to its June 18 stock price.

The acquisition's price of approximately $24.50 per share in cash also marks a premium of 67% to the company's March 24 stock price prior to Haveli's initial investment, RBC said.

RBC said it does not expect another bidder to emerge given the "fair valuation and Board approval".

Couchbase ( BASE ) has an average rating of overweight and mean price target of $23.61, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 24.51, Change: +0.02, Percent Change: +0.08