Guggenheim Issues Pessimistic Forecast for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price target reduced by stock analysts at Guggenheim from $45.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 53.61% from the stock’s current price.

Several other brokerages have also recently commented on DAVA. Susquehanna reduced their price objective on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Needham & Company LLC dropped their price objective on Endava from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. upped their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Citigroup dropped their target price on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.21.

Endava Stock Performance

Shares of DAVA traded up $0.09 during mid-day trading on Wednesday, hitting $26.04. The stock had a trading volume of 63,408 shares, compared to its average volume of 527,991. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $1.50 billion, a P/E ratio of 72.08 and a beta of 1.21. Endava has a 52 week low of $23.28 and a 52 week high of $81.06. The business has a fifty day moving average price of $26.99 and a 200-day moving average price of $28.59.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). The business had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. Endava had a return on equity of 2.75% and a net margin of 2.30%. On average, equities research analysts expect that Endava will post 0.77 EPS for the current year.

Institutional Trading of Endava

Institutional investors and hedge funds have recently bought and sold shares of the company. Mawer Investment Management Ltd. grew its position in Endava by 613.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock worth $30,610,000 after purchasing an additional 1,030,403 shares during the period. Paradice Investment Management LLC purchased a new stake in shares of Endava during the second quarter worth about $18,695,000. Fourth Sail Capital LP raised its position in shares of Endava by 36.2% during the 3rd quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after buying an additional 247,418 shares in the last quarter. Millennium Management LLC raised its holdings in Endava by 64.5% during the 2nd quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after buying an additional 223,964 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Endava by 15,560.6% during the first quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock worth $6,511,000 after buying an additional 170,077 shares during the period. 62.23% of the stock is currently 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.