Citigroup Lowers Endava (NYSE:DAVA) Price Target to $105.00

Endava (NYSE:DAVAGet Rating) had its target price reduced by Citigroup from $110.00 to $105.00 in a report released on Monday morning, The Fly reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on DAVA. Wedbush dropped their price target on Endava from $120.00 to $90.00 and set an outperform rating on the stock in a research report on Wednesday, September 28th. Deutsche Bank Aktiengesellschaft dropped their price target on Endava from $94.00 to $78.00 in a research report on Wednesday, September 28th. Susquehanna Bancshares lifted their price target on Endava from $110.00 to $120.00 and gave the company a positive rating in a research report on Wednesday, November 16th. Morgan Stanley dropped their target price on Endava from $130.00 to $95.00 and set an overweight rating on the stock in a report on Wednesday, September 28th. Finally, Susquehanna boosted their target price on Endava from $110.00 to $120.00 in a report on Wednesday, November 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $106.44.

Endava Stock Performance

Shares of DAVA stock opened at $74.63 on Monday. Endava has a fifty-two week low of $61.55 and a fifty-two week high of $170.88. The firm has a market cap of $4.16 billion, a P/E ratio of 35.88 and a beta of 1.21. The business’s 50 day moving average price is $73.79 and its 200-day moving average price is $89.27.

Endava (NYSE:DAVAGet Rating) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. Endava had a return on equity of 22.06% and a net margin of 13.26%. The company had revenue of $226.82 million for the quarter, compared to analyst estimates of $219.99 million. As a group, equities analysts predict that Endava will post 2.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DAVA. Tower Research Capital LLC TRC raised its stake in shares of Endava by 433.3% in the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Endava in the second quarter worth $41,000. Castle Wealth Management LLC purchased a new position in shares of Endava in the second quarter worth $52,000. Harbor Investment Advisory LLC raised its stake in shares of Endava by 23.2% in the second quarter. Harbor Investment Advisory LLC now owns 766 shares of the company’s stock worth $68,000 after purchasing an additional 144 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Endava in the first quarter worth $88,000. Hedge funds and other institutional investors own 52.49% of the company’s stock.

About Endava

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Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. It offers technology and digital advisory services for payments and financial services, and TMT sectors; IT strategies; business analysis services; program management services; digital product strategy services; and architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.

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