Endava (NYSE:DAVA) PT Lowered to $50.00

Endava (NYSE:DAVA - Get Free Report) had its price objective dropped by analysts at Wedbush from $65.00 to $50.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's target price points to a potential upside of 61.50% from the company's previous close.

A number of other analysts have also recently commented on DAVA. Guggenheim assumed coverage on shares of Endava in a research note on Tuesday, March 19th. They set a "buy" rating and a $60.00 price target on the stock. Needham & Company LLC cut their price target on Endava from $70.00 to $50.00 and set a "buy" rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. reduced their price target on Endava from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. TD Cowen dropped their price objective on Endava from $85.00 to $52.00 and set an "outperform" rating on the stock in a report on Friday, March 1st. Finally, Citigroup reduced their target price on Endava from $40.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.90.

Endava Stock Performance

NYSE DAVA traded up $1.75 on Thursday, hitting $30.96. 1,632,229 shares of the stock traded hands, compared to its average volume of 595,245. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 21.35 and a beta of 1.14. The business's fifty day moving average is $32.86 and its two-hundred day moving average is $54.45. Endava has a 12 month low of $28.13 and a 12 month high of $81.06.

Endava (NYSE:DAVA - Get Free Report) last posted 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 firm had revenue of $227.96 million for the quarter, compared to the consensus estimate of $231.07 million. Analysts expect that Endava will post 0.62 EPS for the current fiscal year.

Institutional Trading of Endava

A number of hedge funds have recently made changes to their positions in DAVA. Assetmark Inc. raised its position in Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company's stock valued at $40,000 after purchasing an additional 165 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Endava by 34.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company's stock valued at $111,000 after purchasing an additional 368 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Endava by 5.6% during the 1st quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company's stock valued at $353,000 after buying an additional 495 shares in the last quarter. Capital International Sarl lifted its position in Endava by 4.3% in the 4th quarter. Capital International Sarl now owns 16,996 shares of the company's stock worth $1,323,000 after buying an additional 708 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Endava by 194.9% in the third 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. 62.23% of the stock is owned by institutional investors.

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.