Endava plc (NYSE:DAVA) Receives $46.41 Consensus Target Price from Analysts

Endava plc (NYSE:DAVA) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $46.41.

A number of research firms have recently weighed in on DAVA. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. Needham & Company LLC lowered their price target on Endava from $50.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 24th. Wedbush cut their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Citigroup lowered their target price on shares of Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Finally, HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, May 1st.

Institutional Trading of Endava

A number of hedge funds and other institutional investors have recently made changes to their positions in DAVA. Assetmark Inc. boosted its holdings in Endava by 47.8% in the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Endava in the fourth quarter worth about $81,000. Principal Securities Inc. acquired a new stake in Endava during the fourth quarter worth about $99,000. Headlands Technologies LLC purchased a new position in Endava during the first quarter valued at approximately $49,000. Finally, Quadrant Capital Group LLC lifted its holdings in Endava by 34.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after acquiring an additional 368 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

Endava Price Performance

Shares of DAVA stock opened at $31.27 on Thursday. The stock’s 50-day moving average is $28.52 and its 200 day moving average is $42.82. Endava has a 1-year low of $24.51 and a 1-year high of $81.06. The company has a market cap of $1.81 billion, a P/E ratio of 34.61 and a beta of 1.22.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The firm had revenue of $221.14 million during the quarter, compared to analysts’ expectations of $220.59 million. Endava had a return on equity of 7.13% and a net margin of 5.69%. On average, analysts anticipate that Endava will post 0.51 EPS for the current year.

About Endava

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.