Wedbush Lowers Endava (NYSE:DAVA) Price Target to $50.00

Endava (NYSE:DAVA) had its target price cut by research analysts at Wedbush from $65.00 to $50.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 58.63% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC dropped their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Guggenheim began coverage on shares of Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price objective for the company. HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday, May 1st. Citigroup reduced their price target on shares of Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Endava from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.90.

Endava Trading Up 7.9 %

Shares of NYSE:DAVA traded up $2.31 on Thursday, reaching $31.52. 988,125 shares of the company’s stock were exchanged, compared to its average volume of 588,470. The company has a fifty day moving average of $32.86 and a 200-day moving average of $54.45. Endava has a twelve month low of $28.13 and a twelve month high of $81.06. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 21.74 and a beta of 1.14.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. As a group, equities research analysts forecast that Endava will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Endava

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Endava during the 1st quarter valued at $596,000. Silvercrest Asset Management Group LLC boosted its position in Endava by 9.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after buying an additional 27,797 shares during the period. Lazard Asset Management LLC boosted its position in Endava by 15,560.6% during the 1st quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock valued at $6,511,000 after buying an additional 170,077 shares during the period. Quadrature Capital Ltd purchased a new stake in Endava during the 1st quarter valued at $841,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Endava by 42.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 166,310 shares of the company’s stock valued at $6,267,000 after buying an additional 49,511 shares during the period. 62.23% of the stock is currently owned by institutional investors.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.