TD Cowen Lowers Endava (NYSE:DAVA) Price Target to $6.00

Key Points

• TD Cowen cut its price target on Endava from $6.50 to $6.00 while maintaining a "buy" rating, implying roughly a 32.7% upside from the prior close.
• Analyst sentiment is mixed — four Buy, five Hold and one Sell — leaving a MarketBeat consensus rating of "Hold" with a consensus price target of $14.14.
• Endava shares trade around $4.52 (near a 52‑week low of $4.21), have a market cap of about $254M, and a negative PE (-41.14), indicating the company is currently unprofitable.

Endava (NYSE:DAVA - Get Free Report) had its target price dropped by equities research analysts at TD Cowen from $6.50 to $6.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 32.71% from the stock's previous close.

DAVA has been the subject of several other research reports. Wall Street Zen raised shares of Endava from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Needham & Company LLC lowered their price target on shares of Endava from $9.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, February 19th. Guggenheim cut their price objective on shares of Endava from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Endava from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.14.

Endava Price Performance

NYSE DAVA traded down $0.01 during trading hours on Monday, reaching $4.52. The company's stock had a trading volume of 33,540 shares, compared to its average volume of 429,667. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.39 and a current ratio of 2.39. The company's 50-day moving average is $5.10 and its two-hundred day moving average is $6.72. Endava has a fifty-two week low of $4.21 and a fifty-two week high of $21.81. The stock has a market cap of $254.13 million, a PE ratio of -41.14 and a beta of 1.26.

Institutional Investors Weigh In On Endava

Several institutional investors have recently bought and sold shares of DAVA. EverSource Wealth Advisors LLC increased its position in shares of Endava by 733.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock valued at $29,000 after purchasing an additional 1,680 shares during the period. Advisory Services Network LLC acquired a new stake in Endava during the third quarter valued at approximately $28,000. Quadrant Capital Group LLC boosted its holdings in Endava by 901.8% during the fourth quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company's stock worth $39,000 after buying an additional 5,492 shares in the last quarter. Perennial Advisors LLC acquired a new position in Endava in the fourth quarter worth approximately $63,000. Finally, Vident Advisory LLC bought a new position in shares of Endava in the second quarter valued at $160,000. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Company Profile

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.

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