Endava plc (NYSE:DAVA) Receives Average Rating of “Moderate Buy” from Analysts

Endava plc (NYSE:DAVA) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $60.78.

DAVA has been the topic of several research reports. TD Cowen cut their target price on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. raised Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research note on Tuesday, March 19th. HSBC downgraded shares of Endava from a “buy” rating to a “hold” rating and increased their target price for the stock from $68.00 to $80.00 in a research report on Monday, January 8th. Guggenheim started coverage on shares of Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 1st.

Institutional Investors Weigh In On Endava

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Endava by 433.3% during the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares in the last quarter. Assetmark Inc. grew its stake in Endava by 47.8% during the 4th 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. Signaturefd LLC increased 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 purchasing an additional 762 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Endava by 41.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after purchasing an additional 364 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of Endava during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Endava Price Performance

DAVA opened at $30.61 on Tuesday. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 21.11 and a beta of 1.10. Endava has a 12 month low of $29.69 and a 12 month high of $81.06. The business has a 50-day moving average of $46.78 and a two-hundred day moving average of $59.13.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. Equities research analysts anticipate that Endava will post 0.66 earnings per share for the current year.

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.