Endava (NYSE:DAVA) Shares Gap Up to $29.21

Endava plc (NYSE:DAVA - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $29.21, but opened at $31.74. Endava shares last traded at $32.90, with a volume of 383,802 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HSBC upgraded shares of Endava from a "hold" rating to a "buy" rating and set a $45.00 target price for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Endava from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Morgan Stanley reiterated an "equal weight" rating and issued a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. Wedbush decreased their price objective on shares of Endava from $65.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, TD Cowen decreased their price objective on shares of Endava from $85.00 to $52.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Endava currently has an average rating of "Moderate Buy" and a consensus target price of $50.90.

Endava Trading Up 6.0 %

The firm's 50-day moving average is $32.86 and its two-hundred day moving average is $54.45. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 21.35 and a beta of 1.14.

Endava (NYSE:DAVA - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share 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 company had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. On average, analysts predict that Endava plc will post 0.62 earnings per share for the current year.

Institutional Trading of Endava

Large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Endava during the 3rd quarter worth approximately $697,000. Signaturefd LLC lifted its holdings in Endava by 194.9% during the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company's stock worth $66,000 after buying an additional 762 shares in the last quarter. NBC Securities Inc. acquired a new stake in Endava during the 3rd quarter worth approximately $277,000. abrdn plc raised its holdings in shares of Endava by 37.8% in the 3rd quarter. abrdn plc now owns 178,366 shares of the company's stock valued at $10,229,000 after purchasing an additional 48,885 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Endava in the 3rd quarter valued at $313,000. 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.