Brokerages Set Endava plc (NYSE:DAVA) Price Target at $60.78

Shares of Endava plc (NYSE:DAVA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $60.78.

A number of analysts have commented on DAVA shares. Citigroup reissued a "neutral" rating and issued a $40.00 target price (down previously from $90.00) on shares of Endava in a report on Friday, March 1st. HSBC lowered shares of Endava from a "buy" rating to a "hold" rating and boosted their target price for the company from $68.00 to $80.00 in a research note on Monday, January 8th. Morgan Stanley cut Endava from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $68.00 to $80.00 in a report on Wednesday, January 24th. Needham & Company LLC cut their price objective on Endava from $70.00 to $50.00 and set a "buy" rating for the company in a report on Friday, March 1st. Finally, Guggenheim assumed coverage on Endava in a report on Tuesday, March 19th. They issued a "buy" rating and a $60.00 target price on the stock.

Endava Stock Performance

Shares of Endava stock traded down $1.11 during midday trading on Tuesday, reaching $32.94. 1,113,417 shares of the company's stock traded hands, compared to its average volume of 559,158. The stock has a 50 day moving average of $49.99 and a 200-day moving average of $59.90. Endava has a 12 month low of $32.84 and a 12 month high of $81.06. The company has a market cap of $1.90 billion, a PE ratio of 22.72 and a beta of 1.10.

Endava (NYSE:DAVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a return on equity of 11.77% and a net margin of 8.88%. The business had revenue of $227.96 million for the quarter, compared to the consensus estimate of $231.07 million. On average, equities analysts anticipate that Endava will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endava

Several large investors have recently modified their holdings of DAVA. PNC Financial Services Group Inc. grew its holdings in shares of Endava by 18.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company's stock valued at $414,000 after buying an additional 833 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Endava by 2.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 254,301 shares of the company's stock worth $19,797,000 after buying an additional 6,492 shares in the last quarter. Townsquare Capital LLC acquired a new stake in shares of Endava during the 4th quarter valued at about $5,265,000. Legal & General Group Plc increased its position in shares of Endava by 36.2% in the fourth quarter. Legal & General Group Plc now owns 85,089 shares of the company's stock valued at $6,624,000 after buying an additional 22,601 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in Endava in the 4th quarter worth $720,000. 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.