JPMorgan Chase & Co. Lowers Endava (NYSE:DAVA) Price Target to $17.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Endava (NYSE:DAVA) from $18.00 to $17.00, while maintaining a "neutral" rating on the stock.
• The average price target for Endava among analysts is currently $25.11, with three analysts rating it as a Buy and seven as a Hold.
• Endava's stock is currently trading at approximately $12.75, which reflects a potential upside of 33.39% to JPMorgan's revised target price.

Endava (NYSE:DAVA - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $18.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently commented on DAVA. Guggenheim restated a "buy" rating and set a $25.00 target price on shares of Endava in a report on Tuesday, June 10th. TD Cowen downgraded Endava from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Endava in a research note on Thursday, July 17th. They issued a "hold" rating and a $14.00 price target on the stock. Cowen cut Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Susquehanna reduced their price target on Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $25.11.

Endava Trading Up 1.5%

Shares of Endava stock traded up $0.2050 during midday trading on Wednesday, reaching $13.8950. 474,493 shares of the company's stock traded hands, compared to its average volume of 686,696. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market cap of $820.22 million, a PE ratio of 36.57 and a beta of 1.12. The stock has a 50 day moving average of $13.88 and a 200-day moving average of $18.12. Endava has a 12 month low of $11.63 and a 12 month high of $34.94.

Hedge Funds Weigh In On Endava

A number of hedge funds have recently bought and sold shares of DAVA. Quantbot Technologies LP purchased a new stake in shares of Endava during the first quarter valued at $25,000. GAMMA Investing LLC boosted its position in shares of Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock valued at $26,000 after buying an additional 753 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Endava by 733.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock valued at $29,000 after buying an additional 1,680 shares during the last quarter. State of Wyoming boosted its position in shares of Endava by 112.7% during the first quarter. State of Wyoming now owns 2,367 shares of the company's stock valued at $46,000 after buying an additional 1,254 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Endava by 23.5% during the first quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after buying an additional 689 shares during the last quarter. Institutional investors own 62.23% of the company's stock.

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.