Endava (NYSE:DAVA) Given New $36.00 Price Target at TD Cowen

Endava (NYSE:DAVA) had its price target hoisted by analysts at TD Cowen from $35.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 21.58% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Susquehanna dropped their price objective on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Guggenheim dropped their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC dropped their price objective on shares of Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. increased their price objective on shares of 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 price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Endava has a consensus rating of “Moderate Buy” and a consensus price target of $40.61.

Endava Stock Up 0.4 %

DAVA stock traded up $0.11 during midday trading on Wednesday, hitting $29.61. 236,451 shares of the company’s stock were exchanged, compared to its average volume of 537,933. The firm has a 50 day moving average price of $26.79 and a 200-day moving average price of $28.53. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 211.50 and a beta of 1.21. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.23.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). The company had revenue of $245.30 million during the quarter, compared to analyst estimates of $248.65 million. Endava had a net margin of 0.92% and a return on equity of 1.11%. On average, analysts anticipate that Endava will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently bought and sold shares of the business. Mawer Investment Management Ltd. boosted its position in shares of Endava by 613.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after acquiring an additional 1,030,403 shares in the last quarter. FMR LLC boosted its holdings in Endava by 1.4% during the third quarter. FMR LLC now owns 952,515 shares of the company’s stock valued at $24,327,000 after purchasing an additional 13,106 shares in the last quarter. Fourth Sail Capital LP boosted its holdings in Endava by 36.2% during the third quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after purchasing an additional 247,418 shares in the last quarter. Paradice Investment Management LLC acquired a new stake in Endava during the second quarter valued at approximately $18,695,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Endava by 30.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 601,898 shares of the company’s stock valued at $15,372,000 after purchasing an additional 141,250 shares in 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.