Endava (NYSE:DAVA) Sets New 1-Year Low After Earnings Miss

Endava plc (NYSE:DAVA - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $14.50 and last traded at $15.60, with a volume of 6931065 shares traded. The stock had previously closed at $21.41.

The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.06). Endava had a net margin of 0.74% and a return on equity of 0.89%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Guggenheim reduced their price objective on Endava from $40.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday. Morgan Stanley increased their target price on Endava from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Susquehanna cut their target price on Endava from $55.00 to $50.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Finally, Needham & Company LLC cut their target price on Endava from $43.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Endava presently has an average rating of "Moderate Buy" and a consensus target price of $37.31.

Institutional Investors Weigh In On Endava

Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Endava during the 1st quarter valued at $25,000. Assetmark Inc. grew its stake in Endava by 93.1% during the fourth quarter. Assetmark Inc. now owns 985 shares of the company's stock worth $30,000 after buying an additional 475 shares during the period. Blue Trust Inc. boosted its position in shares of Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock worth $46,000 after buying an additional 331 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Endava by 114.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock worth $46,000 after buying an additional 786 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Endava by 23.5% in the first quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock worth $72,000 after buying an additional 689 shares during the period. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Price Performance

The company has a 50-day moving average price of $19.26 and a two-hundred day moving average price of $25.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $920.88 million, a PE ratio of 141.82, a P/E/G ratio of 2.26 and a beta of 1.25.

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.

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