Needham & Company LLC Boosts Endava (NYSE:DAVA) Price Target to $20.00

Endava (NYSE:DAVA - Get Free Report) had its price objective upped by Needham & Company LLC from $18.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would suggest a potential upside of 18.10% from the stock's previous close.

Several other research firms have also recently issued reports on DAVA. Susquehanna reduced their price objective on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research report on Tuesday, May 20th. TD Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a report on Thursday, May 15th. Cowen cut shares of Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $18.00 target price on shares of Endava in a report on Monday, May 19th. Finally, Guggenheim decreased their target price on Endava from $40.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Endava currently has a consensus rating of "Hold" and a consensus target price of $26.63.

Endava Stock Performance

Endava stock traded up $0.36 during midday trading on Tuesday, hitting $16.94. The stock had a trading volume of 1,245,795 shares, compared to its average volume of 544,250. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Endava has a 52-week low of $14.00 and a 52-week high of $34.94. The company has a market capitalization of $999.69 million, a PE ratio of 153.95, a P/E/G ratio of 2.26 and a beta of 1.15. The firm's fifty day moving average is $17.20 and its two-hundred day moving average is $24.46.

Hedge Funds Weigh In On Endava

Institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Endava by 36.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company's stock valued at $120,939,000 after buying an additional 1,665,735 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Endava by 80.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock worth $55,807,000 after acquiring an additional 805,903 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Endava by 187.5% during the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock valued at $26,540,000 after acquiring an additional 560,190 shares during the last quarter. Fourth Sail Capital LP boosted its stake in Endava by 52.9% in the first quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company's stock valued at $27,435,000 after acquiring an additional 486,604 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Endava in the fourth quarter worth $14,698,000. Hedge funds and other 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.