Endava (NYSE:DAVA) Given New $36.00 Price Target at Needham & Company LLC

Endava (NYSE:DAVA) had its target price hoisted by Needham & Company LLC from $33.00 to $36.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Susquehanna reduced their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Citigroup reduced their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Guggenheim cut their price target on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, TD Cowen boosted their price objective on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.91.

Endava Stock Down 5.0 %

Shares of DAVA stock traded down $1.41 on Thursday, hitting $26.85. The stock had a trading volume of 264,155 shares, compared to its average volume of 537,284. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.74. The business has a 50 day moving average of $26.76 and a 200 day moving average of $28.54. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 201.79 and a beta of 1.21.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a net margin of 0.92% and a return on equity of 1.10%. The firm had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $248.65 million. As a group, analysts expect that Endava will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Endava

Several large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in Endava by 6.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,578,646 shares of the company’s stock worth $40,319,000 after buying an additional 98,875 shares in the last quarter. Mawer Investment Management Ltd. grew its position in Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock worth $30,610,000 after acquiring an additional 1,030,403 shares in the last quarter. FMR LLC grew its position in Endava by 1.4% in the third quarter. FMR LLC now owns 952,515 shares of the company’s stock worth $24,327,000 after acquiring an additional 13,106 shares in the last quarter. Fourth Sail Capital LP increased its stake in Endava by 36.2% in the third quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after acquiring an additional 247,418 shares during the last quarter. Finally, Paradice Investment Management LLC purchased a new stake in Endava during the second quarter valued at about $18,695,000. Institutional investors own 62.23% of the company’s stock.

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.