Endava (NYSE:DAVA) PT Lowered to $33.00

Endava (NYSE:DAVA) had its target price lowered by Citigroup from $40.00 to $33.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also commented on the stock. Guggenheim began 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. TD Cowen dropped their price target on shares of Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research report on Friday, March 1st. HSBC lowered shares of Endava from a buy rating to a hold rating and raised their price target for the company from $68.00 to $80.00 in a research report on Monday, January 8th. JPMorgan Chase & Co. upgraded shares of Endava from a neutral rating to an overweight rating and set a $49.00 price target on the stock in a research report on Tuesday, March 19th. Finally, Needham & Company LLC dropped their price target on shares of Endava from $70.00 to $50.00 and set a buy rating on the stock in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $55.56.

Endava Price Performance

NYSE:DAVA opened at $29.98 on Monday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 20.68 and a beta of 1.10. Endava has a 1-year low of $29.54 and a 1-year high of $81.06. The company’s fifty day moving average price is $41.39 and its 200-day moving average price is $57.81.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $227.96 million during 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 analysts anticipate that Endava will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Endava

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Endava during the 3rd quarter worth $58,433,000. Fourth Sail Capital LP acquired a new stake in Endava during the 1st quarter worth $27,622,000. Invesco Ltd. boosted its stake in Endava by 156.5% during the 3rd quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $49,669,000 after purchasing an additional 528,384 shares during the last quarter. Capital World Investors boosted its stake in Endava by 39.3% during the 4th quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after purchasing an additional 278,300 shares during the last quarter. Finally, FMR LLC boosted its stake in Endava by 16.5% during the 3rd quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after purchasing an additional 256,250 shares during the last quarter. Institutional investors and hedge funds 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.