Endava (NYSE:DAVA) Receives “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Endava (NYSE:DAVA) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $40.00 price objective on the stock.

A number of other research analysts also recently weighed in on DAVA. Needham & Company LLC lowered their price target on Endava from $70.00 to $50.00 and set a buy rating on the stock in a report on Friday, March 1st. HSBC downgraded Endava from a buy rating to a hold rating and boosted their target price for the company from $68.00 to $80.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. upgraded Endava from a neutral rating to an overweight rating and set a $49.00 target price on the stock in a research note on Tuesday, March 19th. Guggenheim assumed coverage on Endava in a research note on Tuesday, March 19th. They issued a buy rating and a $60.00 target price on the stock. Finally, TD Cowen lowered their target price on Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Endava currently has a consensus rating of Moderate Buy and a consensus target price of $55.56.

Endava Trading Down 1.1 %

Shares of DAVA stock opened at $29.98 on Monday. Endava has a 1-year low of $29.54 and a 1-year high of $81.06. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 20.68 and a beta of 1.10. The stock’s fifty day simple moving average is $41.39 and its 200-day simple moving average is $57.81.

Endava (NYSE:DAVA) last issued its quarterly earnings results 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). Endava had a net margin of 8.88% and a return on equity of 11.77%. The business had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. On average, sell-side analysts predict that Endava will post 0.62 EPS for the current year.

Institutional Trading of Endava

A number of institutional investors and hedge funds have recently made changes to their positions in DAVA. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Endava in the third quarter worth about $58,433,000. Fourth Sail Capital LP acquired a new stake in shares of Endava in the first quarter worth about $27,622,000. Invesco Ltd. lifted its position in shares of Endava by 156.5% in the third quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $49,669,000 after buying an additional 528,384 shares during the last quarter. Capital World Investors lifted its position in shares of Endava by 39.3% in the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after buying an additional 278,300 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Endava by 16.5% in the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after buying an additional 256,250 shares during the last quarter. Institutional investors and hedge funds 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.