Endava (NYSE:DAVA) Price Target Cut to $17.00 by Analysts at JPMorgan Chase & Co.

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 - Get Free Report) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 33.39% from the stock's current price.

DAVA has been the topic of several other research reports. 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 objective on the stock. Guggenheim reiterated a "buy" rating and issued a $25.00 price objective on shares of Endava in a research note on Tuesday, June 10th. Cowen downgraded Endava from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Wall Street Zen downgraded Endava from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Susquehanna dropped their target price on Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Endava currently has an average rating of "Hold" and an average price target of $25.11.

Endava Stock Performance

Shares of DAVA stock traded down $0.0550 during trading on Wednesday, hitting $12.7450. The company's stock had a trading volume of 153,042 shares, compared to its average volume of 683,301. The company has a market cap of $752.34 million, a PE ratio of 33.49 and a beta of 1.12. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $14.07 and a 200-day moving average of $18.63. Endava has a 52 week low of $11.63 and a 52 week high of $34.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DAVA. M&T Bank Corp boosted its holdings in shares of Endava by 182.3% during the first quarter. M&T Bank Corp now owns 39,499 shares of the company's stock worth $770,000 after purchasing an additional 25,506 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Endava by 165.0% during the fourth quarter. Two Sigma Investments LP now owns 59,089 shares of the company's stock worth $1,826,000 after purchasing an additional 36,789 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Endava by 1,029.1% during the first quarter. GAMMA Investing LLC now owns 18,144 shares of the company's stock worth $354,000 after purchasing an additional 16,537 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Endava by 85.9% during the first quarter. Janney Montgomery Scott LLC now owns 47,125 shares of the company's stock worth $919,000 after purchasing an additional 21,773 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Endava by 100.7% during the first quarter. Envestnet Asset Management Inc. now owns 251,407 shares of the company's stock worth $4,905,000 after purchasing an additional 126,158 shares during the period. 62.23% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.